YaoJiKe Secures RMB 10 Million Seed Funding to Drive Pharmacy Digital Transformation and Build an Integrated 'Medical Care + Pharmaceuticals + Services' Ecosystem
On January 13, 2021, VCBeat learned that Shenzhen Yaogeke Technology Co., Ltd. (hereinafter referred to as “Yaogeke”) announced the completion of its seed financing round amounting to RMB 10 million. The proceeds from this round will be used for the research and development of its SaaS system and for market implementation and promotion.
Yaojike was established on February 14, 2019. As a digital transformation service provider for pharmaceutical retail, it is dedicated to serving the upstream, midstream, and downstream segments of the pharmaceutical retail industry chain. By building a business middle platform oriented toward end-users, Yaojike provides one-stop solutions integrating “medical care + pharmaceuticals + services,” thereby offering consumers better and safer medication purchasing experiences.
"In recent years, with the continuous advancement of China’s new healthcare reforms, factors such as upgraded health demands and the outflow of hospital prescriptions have contributed to the expansion of the pharmaceutical retail market, while shifts in consumer habits and the breaking down of geographical barriers have driven a redistribution of terminal traffic. 'Furthermore, as population aging becomes increasingly severe, how to better provide services for the elderly and patients with chronic diseases (such as those with hypertension, hyperglycemia, and hyperlipidemia) will become a key consideration in the transformation of the pharmaceutical retail industry,' said Li Jianhua, founder of YaoGeek."
“The pharmaceutical retail industry remains entrenched in traditional retail practices centered on ‘low prices and free gifts.’ Compounded by market pressure from leading pharmacy chains, aggressive competition from online pharmaceutical platforms, and policy shifts, brick-and-mortar pharmacies are experiencing sluggish operational growth and urgently need to transform and break through.” Li Jianhua believes that, in the face of future industry uncertainties, pharmaceutical retail enterprises must urgently adjust their positioning, comprehensively upgrading their role from “drug sellers” to “service providers.”
Given the substantial business opportunities and growth potential in the pharmaceutical retail industry, coupled with an in-depth familiarity with the domestic healthcare market, serial entrepreneur Li Jianhua has embarked on a new venture, co-founding YaoGeek with his team.
The Yaojike team believes that under the pressure of hospital pricing, pharmacies’ strategy of attracting customers with low prices has become obsolete, and consumers may shift back to hospitals.“"Therefore, retail pharmacies need to strengthen their pharmacist service systems and pharmaceutical care infrastructure, equipping themselves with capabilities in health, nutrition, and even medical consultation. They should further develop chronic disease management services and implement refined digital membership management, thereby building sustainable and robust operational capabilities."
Li Jianhua, founder of YaoGeek, brings nearly a decade of experience in the health and wellness industry and internet project operations, with profound expertise in marketing, product development, and business model creation. He has successfully spearheaded nationally renowned health initiatives such as “Maple Leaves Turning Red.” YaoGeek’s technical team comprises talent from Alibaba and other leading industry-related enterprises, offering systematic technical solutions and innovative capabilities, along with in-depth exploration and understanding of the pharmaceutical sector. Additionally, YaoGeek has established a mature offline sales network and cultivated extensive resources within the pharmacy industry, demonstrating thorough familiarity with pharmacy operational dynamics.
After two years of development, Yaogeek has successfully established three strategic business pillars and independently developed solutions including the Yaodao Cloud Electronic Prescription Platform, the Yaokangfu Health Service Platform, the Yaogeek B2B Chronic Disease Procurement Platform, and O2O Pharmaceutical E-commerce System Solutions, thereby forming a closed-loop business ecosystem encompassing “medical care–pharmaceuticals–chronic disease management services.”At this stage, Yaojike has established basic collaborations and signed agreements with industry-related resources such as Chunyu Doctor, Lianou Health, Dakanghua Pharmaceutical, and Chuangmei Pharmaceutical, making ample preparations to empower its corporate brand and products.
YaoGeek fully incorporates “cash flow businesses, core competency businesses, and future sustainable development businesses” into its commercial considerations, integrating industry resources and complementary related products to enhance its business ecosystem. It has now completed its strategic layout across three major sectors: internet medical services, traditional pharmaceutical services, and digital marketing and big data services, initially forming its own product matrix comprising eight major services, including the Yaodao Cloud Electronic Prescription Platform, the Yaokangfu Health Service Platform, the B2B Chronic Disease Procurement Platform, and O2O Pharmaceutical E-commerce System Solutions.
Internet Medical Services:The Yaodaoyun Electronic Prescription Cloud Platform provides electronic prescription services to pharmacies during the sale of prescription drugs, supporting operations for both traditional Chinese medicine and Western medicine prescriptions. It enables real-time data sharing with the monitoring systems of drug regulatory authorities to ensure prescription compliance. The Yaokangfu Health Service Platform offers technical functional modules such as intelligent triage, online physician consultations, medication guidance, and procurement assistance for scarce medications, thereby enhancing the professionalism of pharmaceutical purchases and extending online medical services.
Traditional Medicine Services:Yaojike holds a medical device license and boasts a robust base of pharmacy terminal clients. Its comprehensive pharmacy distribution channels and systematic sales promotion support provide Yaojike with stable cash flow. Through its B2B chronic disease procurement platform, Yaojike empowers pharmacies via a chronic disease management service system, fostering close collaborative relationships. Leveraging Yaojike’s supply chain and distribution network, the company meets pharmacies’ procurement needs for associated products. Additionally, Yaojike offers managed services for O2O pharmaceutical e-commerce, official WeChat accounts, and traditional marketing campaign planning, thereby establishing a complementary service ecosystem. This approach not only supplements operating revenue but also further strengthens customer relationships with pharmacy terminals.
Digital Marketing and Big Data Services:O2O Pharmaceutical E-commerce System Solutions Focused on Pharmacy Chain Services: This solution focuses on pharmacy chain services, integrating online doctors associated with Yaojike to provide pharmaceutical consultation services. It also features independently deployed pharmacy terminals to support the digital transformation of pharmacy chains, empowering both their franchise and directly-operated store networks to expand sales reach.Digital Precision Marketing System for Members: Targeting the member base, this system creates user profiles and tags to build visible digital membership assets for pharmacy chains.Visualization of Data Assets for Pharmacy Chains: Leveraging BI big data systems, this module assists pharmacy managers in decision-making and enables visualized management of pharmacy assets.
Currently, Yaojike has independently developed the “Chronic Disease Management + Intelligent Information System Solution” based on internationally advanced chronic disease management concepts and integrating professional guidance from health managers and chronic disease specialists. This solution provides pharmacies with precise member services to address the “last mile” challenge, enhances their operational competitiveness, and supports the digital transformation and development of the pharmaceutical retail industry.
Yaojike empowers pharmacies to transform their services by enhancing operational efficiency and reducing costs through the provision of internet-based medical services, O2O e-commerce solutions, and support for pharmaceutical procurement, product sales activation, and digitalization tools.In 2020, YaoGeek began its comprehensive rollout in Guangdong Province, serving over 3,000 pharmacies and establishing strategic channel partnerships with leading local pharmaceutical enterprises in ten cities, including Guangzhou, Dongguan, Foshan, Huizhou, and Zhuhai.
It was revealed that YaoJike would comprehensively launch market expansion and chronic disease management services in 2021. Meanwhile, YaoJike will also initiate a nationwide investment promotion project, aiming to empower more practitioners in the broader health industry through an integrated model of “SaaS systems + chronic disease management services (pharmaceutical care services).”