Fangcun Doctor Files IPO Prospectus: Pioneering ADHD Post-Diagnosis Management with 60% Patient Satisfaction Rate

What Happens When a Child at Home Has “ADHD”? The crying, fussing, and sighing never cease; the school frequently calls parents to come in; parents never have time for themselves, enduring countless trials and tribulations from their child every single day…

Pediatric hyperactivity, also known as Attention Deficit Hyperactivity Disorder (ADHD) or minimal brain dysfunction syndrome, is a common behavioral disorder in children. It is primarily characterized by inattention, excessive physical activity, frequent emotional impulsivity, difficulties in interpersonal communication and interaction, and poor academic performance. Children with ADHD generally have normal intelligence; however, their inability to concentrate often leads to learning difficulties.

According to relevant reports, the prevalence of attention-deficit/hyperactivity disorder (ADHD) abroad ranges from 5% to 10%. A meta-analysis indicates that the overall prevalence of ADHD among children in China is 5.7%, with an estimated 20 million affected children nationwide. However, only about one-third of these patients receive standardized treatment, reflecting a low consultation rate. This situation stems not only from insufficient parental awareness of ADHD but also from objective realities such as the inadequate supply of medical resources in China.

“The market pain points are obvious, which means we have ample opportunities,” Chen Xiang, founder of Fangcun Doctor, told VCBeat. Compared with conditions such as autism and depression, ADHD can be more clearly modeled in terms of diagnosis and treatment, and its interventions or therapies are better suited to internet-based platforms. Therefore, it represents a vast blue-ocean market.

Since its establishment in March 2015, Fangcun Doctor has undergone five years of development to become a professional innovative medical enterprise specializing in pediatric brain science. It provides clients with comprehensive, digitalized diagnostic and treatment solutions that integrate online and offline services. Currently, the company operates an internet hospital and physical pharmacies, holds national quality certifications, and participates in national specialty projects. It boasts comprehensive qualifications, capabilities, and government endorsements within its specialty field. Its offline behavioral training centers and clinics are also scheduled to launch this summer.

“To take root in the healthcare industry, one must identify where the core medical value lies.” This was a point Chen Xiang repeatedly emphasized during the exclusive interview.

Before founding Fangcun Doctor, Chen Xiang studied at Peking University Health Science Center for seven years, spent over a decade writing code at well-known enterprises, and served as the Chief Technology Officer (CTO) of MySpace China. He later joined Haodafu, where he independently managed projects and began engaging with the internet healthcare industry.

“I have always wanted to contribute to the development of the healthcare industry.” After resigning, Chen Xiang decided to launch a startup focusing on post-consultation care. “We found that the medical value of post-consultation services is well-defined. For instance, while managing patients who had undergone coronary stent implantation at Haodf.com, we were pleasantly surprised to discover that mortality rates among patients under our management decreased by 80%.”

Building on this foundation, Fangcun Doctor initiates its services with post-diagnosis management. For patients with confirmed diagnoses, it employs an Online-Merge-Offline (OMO) model—integrating online consultations and follow-up visits, external prescription fulfillment, and offline behavioral training centers—to deliver proactive interventions. Furthermore, it integrates upstream supply chains to establish comprehensive, full-lifecycle healthcare solutions.

ADHD was the first choice. In Chen Xiang’s view, this was due to two reasons: first, he had prior experience in this area and possessed a relatively mature understanding of the field; second, specialized conditions like ADHD offer greater operational feasibility in their commercialization pathways compared to chronic diseases.

“Our goal is to be sufficiently vertical,” said Chen Xiang, emphasizing that deep cultivation of a specific sector holds immense value. Taking Aier Eye Hospital, the leading enterprise in the ophthalmology chain sector, as an example, it entered the market through specialized care, established strong ties with physicians, and provided ophthalmology-related medical services. By prioritizing offline operations while integrating online channels, and by consolidating the upstream and downstream supply chain to maximize gross margins—coupled with a robust profit-sharing mechanism—the company has achieved rapid growth.

Fangcun Doctor focuses on the field of brain science. Currently, diagnosis and treatment in this area rely heavily on a limited number of behavioral scales, along with substantial intuition and subjective judgment. This leads to significant pain points, such as lack of parental confidence, suboptimal and imprecise therapeutic outcomes, leaving considerable room for improvement. Taking attention-deficit/hyperactivity disorder (ADHD) as an example, treatment processes and data are fragmented across different institutions, resulting in non-standardized and less-than-ideal treatment efficacy.

To this end, Fangcun Doctor’s first step is to provide online services for physicians, the second step is to extend to prescription needs, and the third step is to offer offline behavioral interventions for children. Specifically, the massive patient population can be easily managed through Fangcun Doctor’s disease management service platform. Moreover, customizable management workflows enable more personalized operations.

(Fangcun Doctor Online Post-Consultation Management)

To date, on the physician side, Fangcun Doctor has successfully enabled over 2,000 physicians across more than 600 hospitals to manage nearly 100,000 patients, reducing physicians’ workload by 15%, significantly improving patient adherence, and achieving a patient satisfaction rate as high as 60%. On the patient side, Fangcun Doctor has provided standardized post-consultation medical care services to 100,000 patients, resulting in an 80% treatment rate, a 40% increase in treatment efficiency, and a reduction of 0.5 days in chemotherapy-related hospital stays.

Moreover, Fangcun Doctor has established two offline intervention centers—one in Guangzhou and one in Wenzhou—aimed at providing patients with more personalized intervention plans.

(Fangcun Doctor Wenzhou Offline Intervention Center)

Fangcun Doctor has earned a strong industry reputation through its high-quality services and was designated as a "Demonstration Center for Post-Consultation Patient Management" by the Chinese Medical Education Association. Additionally, it has established in-depth collaborations with international pharmaceutical companies such as Eli Lilly and Company.

The results are promising. Fangcun Doctor has experienced rapid revenue growth over the past three years, with its prescription outflow business reaching tens of millions of yuan in 2019.

Behind a high-quality enterprise lies a high-quality team. Currently, the entire Fangcun Doctor team comprises approximately 60 members.

Among them, Chen Xiang, the founder and CEO, holds a Master’s degree in Clinical Medicine from Peking University Health Science Center. He previously served as a technical lead at Yahoo! China and Alibaba, CTO of MySpace China, head of the Haodaifu follow-up business division, and senior product and operations manager in Baidu’s Healthcare Division.

“Currently, the number of active physicians on our platform accounts for 15–20% of the entire industry, while active patients cover 50% of diagnosed pediatric cases, amounting to approximately 100,000 individuals,” said Chen Xiang. He attributed the strong market performance to meticulous attention to detail. “We have devoted substantial time to comparing behavioral patterns at each stage against baseline metrics, thereby identifying the most suitable intervention plans for pediatric patients.”

With a high-quality team and strong commercial performance, Fangcun Doctor has secured investment from prominent institutions including Shunwei Capital, Kaifeng Venture Capital, and Sina Fund.

Regarding future development, Chen Xiang stated that the company plans to expand into more offline venues and offer additional services, such as novel game-based therapy approaches. “As we continue to broaden our service offerings, the company’s competitive moat will deepen. In this vertical sector, success hinges on a firm’s professionalism, focus, and endurance.”

It is reported that Fangcun Doctor has financing plans in the near future.