Who Will Be the Next Decade's Unicorn? Insights from the 2019 Future Healthcare 100 Summit

Since its inception in 2015 as the “Internet Healthcare Power Rankings,” the Top 100 Future Healthcare Companies list has become a bellwether for investment in the healthcare sector, guiding development and investment trends in China’s healthcare innovation landscape both currently and in the foreseeable future, while providing valuable reference for follow-on financing by innovative enterprises.

Total Valuation of Listed Companies from 2016 to 2018Over 1 Trillion, with the total valuation of companies listed in 2018 aloneOver 400 billion yuan。Over the past three years, the cumulativeOver 130Companies have successively secured financing, and those on the 2018 list100 companiesEnterprises, withMore than 50Secured a new round of financing.

What is the key element model for the growth of these unicorn companies? What are the key competitive elements for companies in their startup, growth, and maturity stages, respectively?How toBuilding a Closed-Loop Business ModelWidening the Gap with Peers？How Do the Top 100 Companies Interpret Their Growth Trajectories?

December 20, 2019, in2019 Future Healthcare Top 100Held in conjunction with the Future Healthcare Top 100 rankings, focusing on the Innovative Enterprises List and the Sub-sector Lists as the main themes,VCBeat, in collaboration with innovative enterprises, medical institutions, and securities investment firms that have been listed in the "Top 100 Future Healthcare Companies" over the years, delve deeply intoKey Drivers of Growth for the Top 100 Enterprises。

Confirmed Attendees:

*Listed in speaking order

“The Climbers”: Listed for three consecutive years without pause, challenging only the Mount Everest in their hearts

Climb Your Own Mountain. This year, the hit film *The Climbers* brought together a group of people who, through perseverance and resilience, accomplished something extraordinary. Among the companies listed in VCBeat’s “Top 100 Future Healthcare Companies” over the past three years, there are also individuals who, driven by their own persistence and tenacity, have never ceased moving forward, continually challenging themselves to reach their personal Mount Everest.

WeDoctor: From ranking third on the 2016 Top 100 List to climbing to second place on the 2018 list with a valuation exceeding RMB 38 billion, WeDoctor has evolved significantly. Starting as an internet hospital that connected patients with healthcare facilities, it has achieved integration of online and offline diagnosis and treatment. This year, WeDoctor has begun vertically connecting cities and villages while horizontally expanding across healthcare services, pharmaceuticals, health insurance, and elder care, thereby forming a data-driven digital healthcare network.

Miao Health: From Focusing on National Health Management to Building a Closed Loop of “Healthcare, Medical Services, Pharmaceuticals, and Insurance”Through model innovation, data accumulation, and integration of the closed loop, Miao Health is gradually emerging as a prominent player. In the 2018 Top 100 Ranking, Miao Health climbed to the 25th position. What results will Miao Health deliver in the upcoming year of 2020?

DXY, which has been on the list since 2016, has been developing steadily. In April this year, DXY and Zhonghui Mutual Insurance Cooperative jointly launched the "DXY Renyi Mutual Insurance Plan," which is the first mutual insurance in China specifically designed for healthcare professionals. In addition to focusing on the personal health protection of medical staff, DXY's positioning in the internet healthcare industry is further shifting towards the broader health industry.

Xinyi International, building on its continuous integration of physical hospitals, provides multi-dimensional medical cloud application services by sharing an efficient cloud healthcare network. On the Top 100 list released in 2018, Xinyi International saw significant improvements in both valuation and ranking. At the year-end Top 100 Conference, how will Xinyi International evaluate its performance this year?

Haodf Online, deeply committed to serving doctors and patients, rose from 16th place in 2016 to 9th place in 2018, with its corporate valuation doubling. This year, Haodf Online began to leverage physician resources and entered the era of team-based care. As of August this year, 3,395 doctor teams had joined the platform, covering more than 30 primary medical specialties.

It is evident that in exploring specific business operations, some companies have pursued vertical depth, others have expanded horizontally, and still others have gradually shifted their focus. Different enterprises have moved beyond initial broad concepts to identify paths better suited to their needs, each building a business ecosystem with distinct characteristics and competitive advantages. What possibilities will these companies carry forward as they head in their respective directions in 2020?

“Deep Divers”: Technology-Driven, Rooted in the Deep Waters of the Healthcare Industry

Every enterprise has a period dedicated to establishing its roots. During this time, it must clearly define its positioning and identify the right direction for future development. In the deep waters of the healthcare sector, only by diving deep can companies go further. These firms regard technology as their creed, taking root in specific domains and leading the industry in exploring uncharted depths.

Since its debut on the list in 2017, United Imaging has topped the rankings with a valuation exceeding RMB 30 billion, establishing itself as an undisputed leader in the medical device sector. This year, United Imaging continues to deepen its engagement in artificial intelligence, leveraging proprietary algorithms to target the early prevention and treatment of Alzheimer’s disease.

As shown in the chart, Yitu has been listed since 2017 and jumped to fourth place in 2018. In the field of artificial intelligence, Yitu has evolved from point-solution products to comprehensive scenario-based solutions. At the recently held Annual National Academic Conference on Radiology, Yitu made simultaneous strides in early screening and scientific research, unveiling the one-year achievements of its “AI Cancer Prevention Map.”

QuanYu Medical has been deeply engaged in the informatization and comprehensive solutions for oncology radiotherapy, pursuing precision radiotherapy technologies and innovative models. Compared with its ranking in 2016, QuanYu Medical rose by nearly 40 places on the “Top 100 Future Healthcare Companies” list in 2018. How will it respond in the upcoming year of 2020?

Harbour BioMed, a company founded in 2016, ranked 23rd on the 2018 pharmaceutical list. Early this year, Harbour BioMed integrated the Beacon Single-Cell Photoconductive System platform to enhance its antibody drug discovery capabilities. How would they evaluate their own performance?

Taimei Medical, ranked 19th on the Top 100 List in 2018, recently secured an $80 million Series E financing round earlier this year and integrated Ruan Su Technology in June. As a leading provider of cloud-based solutions for pharmaceutical marketing management, how does Taimei Medical achieve a closed-loop digitalization and informatization system for marketing in the life and health sector?

Whether through dedicated research in professional expertise and technical capabilities, or through the deep integration of industry resources, an increasing number of healthcare companies are preparing to take root and venture into deeper waters. Looking back at 2018, the National Healthcare Security Administration, the National Health Commission, and the National Medical Products Administration were established successively. The healthcare sector presents both opportunities and challenges. It is believed that more companies will withstand pressure and risks as they continue to delve deeper into the market.

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