Meinian Onehealth Reports H1 2019 Revenue of RMB 3.641 Billion, Demonstrating Steady Operations and Promising Growth Outlook

On August 28, Meinian Onehealth (SZ: 002044) disclosed its performance report for the first half of 2019. The data showed that during the reporting period, the company achieved a total operating revenue of RMB 3.641 billion, representing a year-on-year increase of 2.93%.

Analysts at Pacific Securities’ healthcare division believe that Meinian Onehealth enjoys significant scale advantages. As group examination contracts are gradually signed toward the end of Q2 and the off-peak season for health checkups comes to an end, coupled with strengthened medical quality management and enhanced service offerings, the company’s performance is expected to stabilize and rebound, with the core drivers of volume and pricing remaining unchanged. The analysis further points out that, due to management’s focus on strengthening internal capabilities, medical expertise, and talent development, overall internal controls and quality systems have improved significantly. Combined with Meinian’s existing advantages in equipment, management, products, and post-examination management, a clear trend of performance recovery is evident for the full year.

The report indicates that Meinian Onehealth has continued to implement disease prevention and health management services, maintaining substantial investments in equipment, quality control, and products. In the first half of this year, the rate of major positive findings among its checkup clients reached 5.44%. Meinian Onehealth believes that achieving early detection, prevention, treatment, and rehabilitation through health screenings constitutes the first line of defense in health management and holds significant importance for improving the national health status.

The Company continues to strengthen medical quality management by adopting smart medical quality control measures. It has fully implemented authentication compliance and a facial recognition management system for physicians, technicians, and nurses; deployed a real-time blood testing tracking system; and continuously upgraded its radiology imaging and laboratory quality control systems. These initiatives enable real-time alerts and supervision of daily operations at health examination centers across China. Furthermore, the Company has deepened strategic collaborations with renowned Grade 3A hospitals in academia, scientific research, and talent development, intensified the recruitment and training of medical professionals, and introduced Japan’s high-end health examination service system. These measures enhance technical barriers and ensure steady improvements in service quality and operational excellence.

Not long ago, Meinian Onehealth took the lead in introducing the JCI “Gold Standard” accreditation, benchmarking against top-tier international standards to build a professional health examination institution of international quality. In addition, the company jointly invested in the third-party independent medical laboratory Adicon through a partnership with The Carlyle Group, integrating upstream and downstream industry chain resources to further elevate testing standards.

Notably, on August 28, Meinian Onehealth innovatively launched an upgraded health management product—the Meinian Good Doctor X Series. Focusing on single diseases and the eight major human body systems, this series provides personalized and targeted screening for health risks based on consumers’ diverse symptoms and health needs, enabling them to experience physical examinations tailored to individual conditions, comprehensive end-to-end health management, and worry-free health protection. According to the introduction, the “Meinian Good Doctor” product builds multi-dimensional health management around the “physical examination + insurance” model, establishing a medical service system that covers medical care services, family doctors, health management, and insurance. It innovatively offers three types of insurance coverage: post-examination critical illness insurance, re-examination cost insurance, and examination accident insurance. Meanwhile, Meinian Onehealth has entered into a strategic partnership with PICC Property and Casualty Company Limited to innovatively provide richer health insurance services, meeting consumers’ diversified needs for health protection.

In June this year, Meinian Onehealth and the Zhongshan Ophthalmic Center of Sun Yat-sen University jointly announced the establishment of the “Ophthalmology Specialty Medical Consortium for Health Checkups,” aiming to extend high-quality medical resources to grassroots levels, enhance image interpretation and diagnostic efficiency through innovative technologies, and explore efficient, cost-effective models for the prevention, control, screening, and diagnosis of eye diseases. Meanwhile, Meinian Onehealth has been actively pursuing product innovation, continuously launching technologically advanced premium health checkup offerings such as capsule endoscopy for gastrointestinal examination, genetic testing, coronary magnetic resonance imaging (MRI), early detection of Alzheimer’s disease (AD), and artificial intelligence-based fundus examination, thereby continuously optimizing user experience.

In the field of private healthcare, Meinian Onehealth has also entered into a strategic partnership with Shanghai Mixi Network, which focuses on family doctors in China. Together, they are jointly developing initiatives such as early disease screening, sharing of medical equipment, and sharing of medical resources, thereby further implementing and deepening healthcare system reforms and promoting the construction and development of regional medical consortia.

On August 28, the China Economic Information Service of Xinhua News Agency and Meinian Onehealth Healthcare Holdings Co., Ltd. jointly released the “Healthy China: Big Data Map of Diabetes from Health Checkups,” with the Meinian Public Health Research Institute of Peking University Health Science Center serving as the academic support unit. Based on an analysis of over 13 million adult records with complete blood glucose data collected from 447 Meinian health checkup centers across China between April 1, 2018, and March 31, 2019, the detection rate of diabetes among the national checkup population was 9.98% (adjusted to 8.63% after calibration against the national population distribution). Diabetes showed a strong positive correlation with obesity, and its distribution exhibited the following characteristics: higher in the north than in the south, higher in males than in females, higher in the elderly than in the young, and higher in winter than in summer.

Professor Han Jisheng, an academician of the Chinese Academy of Sciences and faculty member at Peking University Health Science Center, believes that the launch of the Big Data Diabetes Map based on health checkups is an encouraging and inspiring development for the domestic industry. Comprehensive research and scientific achievements regarding major chronic diseases can provide new insights for future R&D efforts. For instance, despite the overall trend of higher diabetes detection rates in northern China compared to the south, there are significant differences between Heilongjiang Province and its neighboring Inner Mongolia Autonomous Region, warranting further investigation into the various influencing factors.

Data analysis by Meinian Onehealth reveals that among the 30 million professional health check-up clients served annually, there is no effective trend of curbing mainstream chronic diseases such as cardiovascular and cerebrovascular disorders and diabetes. This indicates that public health awareness remains relatively weak, and many chronic diseases have not been effectively prevented or controlled, posing significant challenges in the field of public health. In the future, Meinian Onehealth will continue to conduct research on other high-profile chronic diseases, including cancer, cardiovascular and cerebrovascular diseases, and respiratory diseases. By mining hundreds of millions of underlying health check-up data points to extract key data sources for index compilation, the company will further explore bottom-up index construction models, thereby laying a solid foundation and establishing the framework for the development of health check-up indices.

Industry insiders believe that this is an innovative move by the health checkup industry based on health big data, which will comprehensively quantify and evaluate the overall health status and health trends of Chinese residents, provide a data observation window for the prevention and control of chronic diseases in China, and help achieve the national strategic goal of “Healthy China.”

Meinian Health Research Institute focuses on data standardization, mining data value, leveraging data to support routine operations, and promoting improvements in healthcare quality through academic research. In the first half of the year, the Institute participated in major projects funded by the National Natural Science Foundation and key technological programs under the Ministry of Science and Technology, providing specific work planning and academic guidance in areas such as health big data utilization, brain health early warning, cerebral aneurysm screening, diabetic retinopathy examination, diabetes screening, and cancer screening.

Meinian Onehealth believes that “data + technology” is a crucial driver for the development of the healthcare industry, and that major breakthroughs in artificial intelligence, big data, and telemedicine will bring about significant changes to the field of life sciences.

In the first half of this year, Meinian Onehealth and Philips collaborated on the development of the “AI Breast Intelligent Ultrasound System” based on the Philips Ultrasound AI Platform, targeting breast diseases. Built upon the Philips EPIQ 5 intelligent ultrasound diagnostic system, it provides healthcare professionals with robust decision support through visualization. It is reported that Meinian Onehealth has taken the lead in introducing 15 units of this equipment for its Meizhao brand, addressing key customer pain points. According to a field research report by securities firms, improvements in ultrasound efficiency and service quality will boost the healthy development of the entire health checkup industry.

During the same period, at the Conference on Ultrasound Big Data and Artificial Intelligence Applications hosted by Meinian Onehealth, Meinian Onehealth partnered with the Hangzhou Innovation Center of the National Engineering Laboratory for Big Data Algorithms and Analysis and the Zhejiang Society of Mathematical Medicine to collaborate in the field of ultrasound AI and jointly establish a large-scale ultrasound database. Meanwhile, the Medical Imaging AI Cooperative Development Alliance, initiated by Meinian Onehealth Group, was officially launched at the conference. The alliance calls on the industry and society to actively promote the efficient allocation of resources and the practical implementation of medical imaging AI technologies. Through joint research and development, it aims to facilitate the project initiation, application, and execution of major national, provincial, and municipal special projects, as well as industrialization funds and science and technology development funds, thereby achieving an advantageous integration of industry, academia, and research.

In addition to AI-powered ultrasound, as a leading enterprise in China’s preventive medicine sector, Meinian Onehealth has profoundly recognized the pivotal role of AI across various preventive healthcare domains while spearheading industry development. The company’s 2018 annual report disclosed that it would establish a wholly-owned subsidiary, Meinian Onehealth Artificial Intelligence Technology Co., Ltd., in 2019. This subsidiary will focus on AI-assisted diagnosis for medical imaging, AI-based ultrasound systems, fundus scanning and AI analysis, intelligent early-warning platforms for brain health (including Alzheimer’s disease), intelligent traditional Chinese medicine (TCM) physical examinations, intelligent design of health checkup packages and report interpretation, intelligent optimization systems for checkup processes, and early screening technologies for major diseases. These initiatives aim to provide customers with high-quality, personalized, customized, and intelligent health management services.