Binglitong Technology Files IPO Prospectus: Empowering Over 1,000 Medical Institutions with Customized Healthcare IT Solutions

2013 marked the dawn of medical informatization in China. The introduction of substantive policies, such as the 12th Five-Year Plan for Health and Medical Informatization, the “3521 Project,” and the Guiding Opinions on the Construction of Primary Healthcare Information Systems, propelled medical informatization into a fast-track development phase.

At that time, Chen Chen had just resigned from a medical information software development company and co-founded Chongqing Binglitong Technology Co., Ltd. (hereinafter referred to as “Binglitong Technology”), focusing on the research and development and sales of Hospital Information Systems (hereinafter referred to as “HIS systems”) and fully structured Electronic Medical Record systems (hereinafter referred to as “EMR systems”).

Over the past five years, Binglitong Technology has successively developed a range of healthcare informatics systems—including Laboratory Information Systems (LIS), Picture Archiving and Communication Systems (PACS), Medical Record Management Systems, Queueing and Triage Systems, medical WeChat official accounts, and healthcare service platform systems—building upon its foundational Hospital Information System (HIS) and Electronic Medical Record (EMR) system.Provided multi-tier, multi-level information technology construction services to over 1,000 medical institutions.

Chen Chen graduated from Chongqing University with a major in Measurement Technology and Instrumentation. During his university years, he developed a strong interest in software development through coursework in programming languages and independently mastered various software development technologies. After graduation, Chen joined a medical device company to engage in the research and development of image analysis systems, marking the beginning of his journey in the healthcare industry.

Later, Chen Chen joined a healthcare IT company, where he was responsible for the research and development of hospital management systems and electronic medical record (EMR) systems. Subsequently, Chen Chen co-founded Binglitong Technology with his friends.

Chen Chen stated, “At that time, the information systems in use at various hospitals only included basic functionalities such as registration and billing modules, financial management modules, and inventory management modules. However”70% to 80% of small and medium-sized hospitals lack clinical care modules and electronic medical record (EMR) modules, resulting in relatively primitive work patterns for clinicians and nurses and a low level of informatization.“, so the market demand in this field was very high at that time.” Therefore, Chen Chen decided to develop an information system tailored for small and medium-sized private hospitals, with clinical healthcare informatization and electronic medical records (EMR) as its core.

Recalling his entrepreneurial journey, Chen Chen stated, “The first year of starting a business was the most difficult. Looking back now, I feel both fortunate and apprehensive.”

Lack of brand recognition, an established customer base, and sales experience were the primary challenges faced by Binglitong Technology at its inception. To break into the market, Chen Chen served as both a R&D engineer and a sales representative. He stayed up late at night debugging code and optimizing features, while spending his days visiting medical institutions to promote the company’s products.

Chen Chen braved the scorching sun of Chongqing, traveling from Zhongliang Mountain to Dadukou, from Shiqiaopu to Dadukou, and from Yangjiaping to Dadukou, visiting clinics, outpatient departments, community health stations, community health centers, and hospitals one by one. Although only a handful of clients agreed to sign contracts, he did not give up. After several months of effort, the number of contracts gradually increased, Binglitong Technology began to expand its team, and the company’s workforce steadily grew.

In 2014 and 2015, the system developed by Binglitong Technology successfully entered the market of primary-level public hospitals and clinics.

Chen Chen stated, “The information technology systems of primary-level public medical institutions are largely procured centrally by the government, making it difficult for small start-ups to secure a share of this market.” In 2014, through a referral from a friend, Binglitong Technology successfully secured its first primary-level public medical institution client: the Longshi Town Health Center in Dazu District.

At the request of Longshi Town Health Center, Binglitong Technology customized its Hospital Information System (HIS) and Electronic Medical Record (EMR) system. Following the official launch, the health center witnessed significant improvements in work efficiency and quality of care among clinical staff as well as administrative and logistical personnel, earning high praise from the director and staff.

“After learning about the informatization achievements of Longshi Town Health Center, leaders from the Dazu District Health Bureau (now known as the Health Commission) specifically organized a site visit for directors of other township hospitals in the district. Binglitong Technology’s HIS and EMR systems have been implemented in more than 10 township hospitals across Dazu District.” Chen Chen still vividly recalls this episode.

For Bingli Tong Technology, 2015 also held special significance.

By chance, Binglitong Technology provided a Hospital Information System (HIS) to a clinic in Shapingba.

In 2015, governments at all levels successively introduced a range of policies to encourage private capital investment in healthcare, triggering a wave of clinic startups and driving sustained growth in demand for Hospital Information Systems (HIS) among clinics. Chen Chen stated, “At that time, large enterprises were predominantly focused on public hospitals and paid little attention to the development of IT systems for clinics.” For Binglitong Technology, this presented an excellent opportunity.

In light of the actual conditions and needs of clinics, Binglitong Technology has made numerous improvements to the hospital information system developed by the company.

At the end of 2015, Chen Chen met a person who had a significant impact on the development of Bingli Tong Technology—Dr. Shi Jitao from the Jiayi Community Health Service Station in Dadukou.

Dr. Shi previously worked for many years at Southwest Hospital and Xinqiao Hospital. After leaving his position, he established a community health service station and partnered with Binglitong Technology to provide medical informatics software solutions.

Dr. Shi, who had previously worked at a Grade 3A hospital, held exceptionally high standards for health information systems. He identified shortcomings in Binglitong Technology’s products and offered numerous suggestions for improvement. Through in-depth discussions with Dr. Shi, Chen Chen gained valuable insights into advanced concepts, which enabled targeted product optimizations. These enhancements better aligned the system with the operational workflows of healthcare professionals, making the company’s product more user-friendly and efficient.

In 2017, with the addition of partner Wu Songlou, Binglitong Technology achieved a qualitative leap in its technical capabilities. Building upon its existing products, the company developed new offerings such as a Laboratory Information System (LIS), a Medical Imaging System, and a Regional Cloud Platform.

Chen Chen stated, “With the rapid advancement of healthcare informatization, medical institutions are no longer limited to the standalone use of HIS and EMR systems,”Laboratory Information Systems (LIS), Medical Imaging Systems, and Regional Cloud Platforms will become important components of the next phase of healthcare informatization.。”

Leveraging its existing customer base, Binglitong Technology successively piloted several laboratory information system (LIS) projects and picture archiving and communication system (PACS) projects. Meanwhile, with strong support from Yongchuan Huimin Hospital of Traditional Chinese Medicine, Binglitong Technology successfully implemented its first comprehensive digital hospital project.

In 2018, leveraging the opportunity presented by the Nanchuan District Smart Healthcare Platform project, Binglitong Technology successfully implemented the Nanchuan District Regional Medical Imaging System and the Regional Laboratory Information System. The company subsequently replicated the Nanchuan model in Daozhen County and Bozhou District of Zunyi City.

In the private healthcare sector, Binglitong Technology has partnered with Huamei Medical Aesthetics Group, with the group’s medical institutions progressively implementing Binglitong’s electronic medical record (EMR) system, regional laboratory information system, and regional medical imaging system.

As of now,More than 150 institutions have adopted Binglitong’s laboratory information system, and over 100 institutions use its medical imaging system.

Binglitong Technology serves a diverse clientele spanning various tiers, including township hospitals, clinics, community outpatient departments, small private hospitals, and chain medical groups. Its user base exhibits significant heterogeneity, with varying age demographics and differing levels of computer literacy. In response, the company has optimized its system to cater to different types of healthcare institutions and user profiles, thereby further enhancing usability, stability, versatility, and user-friendliness.

Chen Chen noted, “The hospital information systems of many large enterprises are procured centrally by the government and follow a productized approach, which precludes customized development to meet client needs and results in untimely after-sales service. These factors have significantly impaired the user experience for clients.”

Customization is a major highlight of Binglitong Technology. “Even for the same feature, there are different ways to implement it. During R&D, Binglitong Technology has designed multiple operational modes for the same feature to meet the personalized needs of different customers. The company also provides customized medical software development services for its clients.”

Chen Chen stated, “Many companies prioritize sales while neglecting after-sales service; when system failures occur, support personnel often take several days to respond.” Binglitong Technology has made software after-sales service one of its distinguishing features. Upon reporting a system failure, service personnel will respond within five minutes, with general issues resolved within four hours. Additionally, the company has established an emergency response team to provide 24/7 emergency support. Furthermore, in regions with high business volume, Binglitong Technology has set up local service centers to enable support staff to deliver prompt after-sales service to customers in those areas.

Currently,Binglitong Technology’s products have been deployed in over 800 clinics and more than 300 hospitals.Well-known medical institutions, including Chongqing Qingdetang Chain TCM Clinics, Chongqing Chunmiao Pediatric Chain, Chongqing Quanshun Chain Clinics, Chongqing Yongjia Community Medical Chain, Chongqing Sihuan Chain Clinics, and Chongqing Yuzhengtang Chain Medical Care, have all become clients of Binglitong Technology.

Chen Chen frankly stated, “Fifty percent of Binglitong Technology’s new customers come from referrals by existing clients.” The strong reputation Binglitong Technology has built within the industry has become a driving force and valuable asset for the company’s continued growth.