GuaTian Tech Files IPO Prospectus: Building an Integrated Medical-Pharma-Insurance Service Ecosystem from a Comprehensive Platform

The narrative of building a closed-loop service model has been continuously unfolding in the healthcare sector.

With the rise in public consumption levels and health awareness, the growth potential of the healthcare industry has been further unlocked. Catalyzed by the pandemic, interest in internet healthcare has also surged, with integration across business segments and ecosystem development becoming key trends in the health industry. Notably, the industrial ecosystem chain of “health management + pharmaceuticals and insurance” is becoming increasingly refined.

Beyond shifts in user demand, robust policy support is accelerating the optimization of China’s healthcare delivery, medication usage, and payment systems. Meanwhile, a growing number of entrepreneurs are entering the field, focusing on the deep integration of pharmaceuticals, healthcare, and insurance across products, data, and business operations, while gradually exploring the construction of an ecological closed loop.

Against this backdrop, Guatian Technology (Beijing) Co., Ltd. (hereinafter referred to as “Guatian Technology”), established in 2020, has adopted the creation of an open platform for integrated applications across pharmaceuticals, healthcare, and insurance as its entry point. This approach not only empowers traditional insurers, pharmaceutical manufacturers, pharmaceutical retailers, medical institutions, and other enterprises along the value chain, but also enhances the linkage efficiency among these stakeholders across the pharmaceutical, healthcare, and insurance sectors through an S2B2C model. Consequently, it provides users with comprehensive one-stop health service solutions encompassing, but not limited to, health insurance, health management, online medication purchases, and cross-border medical services.

In recent years, the market size of China’s healthcare industry has continued to expand. According to a report by PwC, it has reached RMB 13 trillion, registering a compound annual growth rate (CAGR) of 13% over the past eight years and making China the world’s second-largest healthcare market.

Corresponding to the continuously expanding scale of the healthcare market, the health insurance market has experienced rapid development in recent years. According to data from the China Banking and Insurance Regulatory Commission (CBIRC), the original premium income from health insurance business reached RMB 817.27 billion in 2020, a year-on-year increase of RMB 110.67 billion, representing a growth rate of 15.7%. This growth rate exceeded that of major insurance categories such as life insurance, property insurance, and accident insurance.

Amid market development, the industry is also grappling with issues such as high product homogenization and significant challenges inherent in traditional sales models. A growing consensus holds that integrating health management capabilities with insurance services through a “product + service” model may be the key to breaking the current impasse and shaping the industry’s future growth.

In the “Opinions on Deepening the Reform of the Medical Security System” issued by the State Council in February 2020, it was further clarified that efforts should be accelerated to establish a multi-tiered medical security system and to promote reforms in payment methods and on the supply side of pharmaceutical and healthcare services.

Driven by a vast market and supportive policies, an increasing number of innovative enterprises are entering the field to explore the construction of a closed-loop ecosystem integrating pharmaceuticals, healthcare, and insurance, while continuously building competitive barriers based on their respective areas of expertise. However, according to Dong Daokuan, Co-founder of Guatian Technology, who has many years of experience in the pharmaceutical industry, the integration of pharmaceuticals, healthcare, and insurance in China is still in the stage of model validation. Although companies along the health service chain have substantial demand for integrated services, differences in standards among them make it difficult to integrate services and quickly meet certain needs. Therefore, the participation of diverse enterprises remains essential for the industry.

Furthermore, from the perspective of meeting public health needs, one-stop platform solutions that cover the entire user journey—from disease prevention, diagnosis, and treatment to medication, rehabilitation, and innovative pharmaceutical payment methods—are clearly more likely to gain favor and trust.

It is precisely for this reason that, at its inception, Guatian Technology chose to start by exporting solutions to enhance the integration efficiency of partner enterprises, gradually accumulating platform data and product customization capabilities to feed back into these partners and users, thereby forming a closed-loop business model.

In terms of resource integration and supply chain consolidation, although the successful models of UnitedHealth Group and Kaiser Permanente in the United States offer valuable references, and domestic innovators have continuously entered the field and gained market recognition, it remains a challenging endeavor at this stage. Guatian Technology’s confidence in deeply cultivating this sector is clearly underpinned by its team’s support and accumulated resources.

It is understood that the core team members of Guatian Technology all come from well-known internet companies, pharmaceutical companies, and industry chain companies such as Huawei, Tencent, JD Health, Taikang Insurance, Yuanxin Technology, and Daxiang Insurance. They have solid accumulations in insurance technology capabilities, internet hospital capabilities, and basic business resources, which fully guarantee the construction of the operation system and the implementation of services.

Meanwhile, the Guatian Technology team has joined forces with universities, insurance companies, and pharmaceutical firms to jointly promote the establishment of the Guatian Institute for Pharmaceutical Insurance and Health Applications, aiming to explore issues related to the integrated development model of pharmaceutical insurance services and to provide support for product research and design.

It is precisely for this reason that, since its establishment, Guatian Technology has entered into business collaborations with multiple enterprises, including Taikang Online, Guoren Property & Casualty Insurance, Allinpay Insurance Brokers, Shuyu Pingmin Pharmacy, and Ruyi Xinte Pharmacy, thereby advancing the implementation of pharmaceutical insurance products and services in retail pharmacy settings.

In terms of business implementation, leveraging its team’s years of accumulated expertise in the insurance and pharmaceutical services sectors, Guatian Technology has developed the IDMx Open Platform for Integrated Pharmaceutical and Insurance Applications by harnessing technologies such as big data, blockchain, and AI. The platform delivers enterprise-oriented solutions, providing standardized offerings—including product support, operational support, technical support, data analytics, marketing standardization, and OEM customization—to commercial insurers, health service providers, and pharmaceutical retail terminals. This approach not only facilitates demand matching and service integration among stakeholders but also helps enterprises reduce costs and improve efficiency, thereby indirectly serving end consumers through an S2B2C model.

In addition, Guatian Technology can collaborate with service providers to deliver one-stop comprehensive health services to users. To better support these services, Guatian Technology has also established the “Luming Health” brand for the consumer market.

Throughout the service process, Guatian Technology also conducts real-time data mining and analytical processing across various workflows, delivering intelligent data-driven insights to support front-end business marketing, product customization (such as the design of insurance solutions for chronic disease management and service packages tailored to specific populations like cancer patients), and the enhancement of insurance underwriting capabilities. This ensures the full utilization of the data capabilities accumulated at the foundational layer of the open platform.

Looking ahead, Guatian Technology also has a clear roadmap.

Moving forward, Guatian Technology will continue to increase its R&D investment and persistently integrate its existing insurance technology, internet hospital, and pharmaceutical e-commerce systems into a unified SaaS platform, thereby deepening multi-party integration.

In terms of business operations, leveraging its continuously iterated and optimized systems and services, Guatian Technology will actively pursue strategic collaborations with pharmaceutical manufacturers and retail pharmacy endpoints, extending its insurance marketing capabilities to a broader range of scenarios and delivering customized health service solutions to more clients.

Meanwhile, at the market level, Guatian Technology plans to gradually export its system and service capabilities, targeting county-level health terminal markets, and expand its presence across China through regional franchising and investment promotion. In this process, Guatian Technology also seeks to establish partnerships with capital entities that offer complementary resources, aiming to pool resources and jointly drive the industry forward.