Honghua Healthcare Files IPO Prospectus to Become China's Leader in Premium yet Affordable Integrated Medical and Elderly Care

“Having chosen entrepreneurship, we must set aside our past achievements, stay grounded in developing products and services, and move forward with diligence. Only in this way can we overcome the challenges in the healthcare industry and provide accessible, high-quality services to the public,” said Zeng Renxiong, founder of OASIS Healthcare. He noted that during his transition from investor to entrepreneur, while “challenges” evolved daily, his sense of accomplishment grew steadily.

One day in 2013, a long-time friend visited Zeng Renxiong and got straight to the point, expressing his desire to establish a hospital that would reconfigure medical scenarios and service models to address people’s emerging needs for healthcare services.

This conversation became the catalyst for Zeng Renxiong's entrepreneurial venture.

Founding OASIS Healthcare was not a “whim” on the part of Zeng Renxiong; rather, it was a decision made after carefully weighing multiple factors, including over a decade of investment experience, as well as market and policy environments. In fact, during his investment exchanges with numerous entrepreneurs and successful business leaders, the seed of entrepreneurship had already taken root quietly in Zeng Renxiong’s mind.

As a seasoned industry veteran with extensive experience in healthcare investment, high-end medical services, and hospital operations management, Zeng Renxiong spearheaded the investment and establishment of Beijing United Family Hospital and led equity investments at China Asset Management Co., Ltd. He also participated in multiple equity investments and post-investment management activities for companies such as Alibaba and Taikang Life Insurance. It was through these projects that he developed his own insights into the development trends and future direction of the healthcare industry.

Zeng Renxiong believes that as people’s economic standards rise, their demand for medical services has shifted from “curing diseases” to “preventing illnesses and staying healthy,” creating a contradiction with the traditional medical service system. Furthermore, private medical institutions occupy an important position in China’s healthcare service system and serve as a vital force in meeting the diverse healthcare needs of different populations while expanding the overall supply of medical services for society.

Based on the above factors, OASIS Healthcare was established.

OASIS Healthcare, established in 2013, is an international comprehensive medical technology company. It is designated as a Beijing-based pilot enterprise for the national “Internet + Healthcare” initiative and recognized as a National High-Tech Enterprise. Furthermore, OASIS Healthcare operates three flagship brand applications: “OASIS Doctor,” “OASIS Nurse,” and “Yiqile.” These platforms have enabled over 200,000 licensed physicians and more than 300,000 nurses to practice independently through various models, while also onboarding over 30,000 healthcare institutions.

How Did OASIS Healthcare Achieve Such Remarkable Results in Just Seven Years? And How Will It Adapt to the Times and Maintain Its Leading Position? The Answers May Lie in Our Conversation with Zeng Renxiong.

“Traditional healthcare tends to address issues from a societal perspective, often overlooking personalized and human-centric elements. However, medical products and services must be patient-centered,” Zeng Renxiong told VCBeat, stating that OASIS Healthcare has always adhered to international JCI standards to build a multi-tiered medical safety and quality service system. “Our goal is to become the ‘Mayo Clinic of China plus the Alibaba of healthcare,’ striving to emerge as a leader in providing high-end yet accessible medical and elderly care services in China.”

Under the leadership of its founders, OASIS Healthcare has assembled a management team comprising interdisciplinary professionals from the fields of medicine, internet technology, and industry. Its core technical talent hails from prestigious universities and renowned companies worldwide, bringing extensive experience in internet operations and channel management.

Zeng Renxiong introduced that a complete medical service delivery requires six key elements: first, the setting where medical services are provided, such as physical institutions like hospitals and clinics; second, the providers delivering the care, including physicians and nurses; third, the recipients of the care, namely patients; fourth, the payers covering the costs, such as social insurance and commercial insurance; fifth, the logistics and distribution system for pharmaceuticals and other supplies; and sixth, information system support.

Guided by the overall strategic development plan of OASIS Healthcare, Zeng Renxiong chose to begin by establishing offline clinics.

In 2014, OASIS Healthcare opened its first high-end clinic in Beijing’s Chaoyang Park. A year later, the state vigorously promoted a tiered diagnosis and treatment system, prompting numerous internet healthcare companies to leverage favorable policies and expand into offline hospitals and clinics, leading to a proliferation of brick-and-mortar clinics. Meanwhile, OASIS Healthcare’s clinics were already thriving.

After years of consolidation and accumulation, OASIS Healthcare has established a mature operational management system for its chain of physical medical institutions. It has planned and built multiple intelligent international health hospitals, rehabilitation centers, community clinics, and nursing stations across China, providing patients with multidisciplinary services including basic clinical diagnosis and treatment in general practice, internal medicine, surgery, gynecology, pediatrics, and traditional Chinese medicine, as well as health guidance and vaccination services.

Operating a nationwide chain of hospital clinics and physical stores is one of OASIS Healthcare’s core businesses. Since 2015, the company has extended its reach through an internet platform to provide home-based medical and elderly care services, primarily featuring in-home nursing care, medication delivery, and video consultations.

“Based on our assessment of future healthcare services, with technological advancements, approximately 50% of medical interventions will be delivered in home settings, around 35% can be managed within communities, and only about 15% will require treatment at large hospitals,” emphasized Zeng Renxiong. He highlighted that OASIS Healthcare does not compete with traditional medical institutions for market share but is committed to providing innovative, differentiated services.

To this end, OASIS Healthcare has built a one-stop health service platform that connects doctors, nurses, and patients. Through a mobile app, medical professionals and healthcare institution managers provide home-based medical services, such as in-home care and home hospital beds, to patients in 2,300 districts and counties across 350 cities in China. The platform also offers one-stop healthcare services globally, including 24/7 video consultations and nationwide medication delivery to patients’ homes.

Zeng Renxiong introduced that this service model is an improved version based on North American home care services, adapted to China’s national conditions and in compliance with policy regulations. This service model not only extends the reach of hospital services and eliminates the physical distance between doctors and patients, but also enables real-time communication between them. Furthermore, it plays a positive role in resource integration, service efficiency, and doctor-patient harmony within the healthcare industry.

Currently, OASIS Healthcare has preliminarily established a home-based medical and elderly care ecosystem, with version 2.0 of its video consultation platform set to launch soon. Zeng Renxiong stated that OASIS Healthcare will subsequently integrate wearable smart devices to gradually enrich its home-based medical and elderly care applications.

“Work diligently, open clinics one by one, and develop products individually. We aim to expand from offline to online services, and from clinic-based care to home healthcare. The medical industry is a hard-core sector, and we are committed to persevering until the end,” stated Zeng Renxiong. He noted that OASIS Healthcare has integrated the mobile terminals of its medical information system with those of doctors, nurses, patients, and healthcare institutions, thereby establishing a complete healthcare industry chain. This integration addresses information asymmetry in healthcare and enhances the efficiency of medical services.

Since its establishment, OASIS Healthcare has built a unique internet-based intelligent medical self-ecosystem centered on home-based medical and elderly care, leveraging its foundation in physical medical facilities, remote consultations, and in-home services.

OASIS Healthcare has integrated cloud-based Hospital Information Systems (HIS) with mobile applications, building an internet-enabled smart healthcare platform on the foundation of its physical hospitals, clinics, and home-based medical and elderly care services. This platform optimizes supply-demand matching across the healthcare industry chain, thereby empowering numerous clinics, elderly care institutions, pharmacies, medical device providers, and insurance companies.

“Liberating productivity through market mechanisms and enabling doctors to establish their own ‘studios’ helps improve the efficiency of medical services and alleviate doctor-patient conflicts.” To this end, OASIS Healthcare facilitates independent practice for doctors and nurses through its network of physical hospitals, clinics, and an intelligent internet-based medical platform, thereby promoting real-time and comprehensive communication between healthcare providers and patients. The platform currently boasts over 500,000 nationally certified professionals, including physicians, pharmacists, psychological counselors, and nurses. Among them are more than 200 experts from the Central Health Care Committee and over 10,000 chief and associate chief physicians.

As previously mentioned, a complete medical service delivery requires six key elements, among which the payer, pharmaceutical logistics, and information systems are important components.

It is reported that OASIS Healthcare’s internet-based intelligent medical and health platform has amassed over 30 million users, empowered more than 30,000 healthcare institutions, and established innovative service collaborations with over 20 domestic and international insurance companies, including direct claims payment, value-added services for insurance products, and joint development of insurance products. The company has explored and built managed care application scenarios and established bilateral referral and remote consultation partnerships with 501 overseas medical institutions.

To address the pain point of “difficulty in cost control for social and commercial insurance,” OASIS Healthcare has established direct-billing partnerships with over 100 insurers worldwide, providing cost-containment services for both government-sponsored social insurance and commercial health insurance. OASIS Healthcare has also begun expanding into the TPA (Third-Party Administrator) sector for health insurance, launching three collaboration models: embedded product services, direct-purchase medical services, and employee benefits services. The company has achieved system integration at the middle-platform level with several mainstream insurers, including Ping An Insurance, PICC, and Taikang Online, and has introduced exclusive products.

Currently, OASIS Healthcare is planning and building community clinics, community medical and elderly care facilities, rehabilitation centers, international medical centers, and smart health hospitals across China. It will securitize its heavy assets to achieve an asset-light operation model, fully leveraging the synergies of its group structure and the advantages of its internet platform. Institutions interested in the company should contact the financing assistant, Xiao Yun, at: DongMai_Investent