WeDoctor and Industrial Bank Xiamen Branch Announce Strategic Partnership to Advance Digital Healthcare and Financial Innovation

VCBeat (WeChat ID: vcbeat) has learned that on September 8, during the China International Fair for Investment and Trade held in Xiamen, Industrial Bank Co., Ltd. Xiamen Branch and WeDoctor Group (Zhejiang) Co., Ltd. (hereinafter referred to as “WeDoctor”) formally signed a strategic cooperation agreement, establishing a comprehensive long-term strategic partnership. Through this collaboration, both parties will fully leverage their respective advantages in finance and digital healthcare to provide technology-driven financial services for Xiamen’s medical and health industry, thereby supporting the in-depth development of healthcare reform and the medical and health sector in Fujian Province, Xiamen City, and across China.

As a leading digital health platform of international scale, WeDoctor has accumulated extensive resources, technological expertise, and operational experience in the “Internet + Healthcare” sector. It has established China’s largest appointment-based diagnosis and treatment platform, the country’s first internet hospital, and a tripartite coordination platform linking medical care, health insurance, and pharmaceuticals. Its centralized drug procurement platform and smart health insurance platform have provided long-term support for national healthcare reforms, particularly the “Sanming Model” in Fujian Province.

Recently, the Huli District Government of Xiamen City signed a strategic cooperation framework agreement with WeDoctor, introducing its new technologies in digital healthcare and medical artificial intelligence to build Xiamen into an innovation hub for the health industry. As planned, WeDoctor is rapidly advancing initiatives including establishing its regional headquarters in Xiamen, upgrading the Haixi Pharmaceutical Trading Center, preparing for the construction of the WeDoctor (Xiamen) Health Town, and founding the Strait Internet Hospital. These efforts aim to attract WeDoctor’s ecosystem partners and business segments—such as health finance, pharmaceutical trading, and smart medical insurance—to settle in Xiamen.

Bank-enterprise cooperation will provide strong support for the rapid development of Xiamen’s healthcare industry and accelerate the implementation of the aforementioned industrial projects. Under the agreement, the Xiamen Branch of Industrial Bank will design comprehensive financial service solutions for WeDoctor (including its series of subsidiaries registered in Xiamen), covering “integrated, one-stop” financial services such as comprehensive credit facilities, supply chain financing for the Haixi Pharmaceutical Trading Center, capital preservation and appreciation, efficient fund management services, and exclusive value-added services for employees. Among these, the Xiamen Branch of Industrial Bank will provide an indicative financing facility totaling RMB 3 billion to WeDoctor and the pharmaceutical distribution enterprises under its Haixi Pharmaceutical Trading Center.

Under this strategic cooperation, the Xiamen Branch of Industrial Bank will provide comprehensive financial service solutions to WeDoctor and enterprises stationed in its industrial technology base. In particular, by leveraging credit facilities to accelerate drug transaction settlement to T+1, the bank aims to further amplify the platform’s three core values of “lowering drug prices,” “improving efficiency,” and “facilitating regulation,” thereby strengthening the Haixi Pharmaceutical Trading Center’s support for centralized procurement of drugs and medical consumables in Fujian Province and across China.

It is reported that the Haixi Pharmaceutical Trading Center, under WeDoctor, is currently the only integrated platform in China based on the coordinated linkage of pharmaceuticals, medical insurance, and healthcare services (“Three-Medical” linkage). The platform comprehensively facilitates joint procurement, price negotiation, trading, settlement, and supervision of drugs and medical consumables. With an annual transaction volume exceeding RMB 100 billion, it helps partner regions reduce procurement costs by an average of 20%–40% each year. During this year’s Two Sessions, the Haixi Pharmaceutical Trading Center facilitated the implementation of Xiamen’s first order under the national “4+7” centralized drug procurement program and won the bid for the “National Medical Insurance Drug and Medical Consumable Procurement Management Subsystem” project commissioned by the National Healthcare Security Administration.

As the first joint-stock commercial bank to establish a presence in Xiamen, Industrial Bank’s Xiamen Branch has been fully committed to supporting the development of the city’s healthcare sector. In recent years, the bank has actively explored a new service model integrating “Internet + Healthcare + Finance,” pioneering the launch of a “Smart Healthcare” financial solution in China. This initiative has enabled major hospitals to develop “Mobile Hospital” platforms, thereby improving the efficiency of medical resource utilization and alleviating the difficulty of accessing medical care. Recently, the bank, in collaboration with CIB Fintech, has introduced its mature electronic agreement signing system—widely adopted in the financial industry—into the healthcare sector. This move aims to enhance the digital capabilities of medical insurance administration and address the challenges associated with traditional manual management of paper contracts.