Miaoshou Doctor Completes RMB 500 Million Series C+ Financing Led by Celestial Capital and Joined by Sequoia Capital China

VCBeat (WeChat: vcbeat) has exclusively learned that on January 7, 2019, Beijing Yuanxin Technology Co., Ltd. (Miaoshou Doctor) officially announced the completion of its C+ round financing, amounting to RMB 500 million. The round was led by Xingjie Capital, with follow-on investments from Sequoia Capital China and others. The funds will be used to comprehensively upgrade businesses such as the “Miaoshou Internet Hospital,” disease course management services, and specialty department development, so as to provide users with higher-quality medical and health services.

Miaoshou Doctor, established in 2015, currently comprises business segments including Miaoshou Internet Hospital, Yuanxin Pharmacy Chain, the Miaoshou Doctor App, the Miaoshou B2C Mall, and a Hospital Prescription Sharing Platform. Miaoshou Doctor has developed into a nationwide professional platform for physician-patient follow-up consultations and a secure medication dispensing center. Leveraging internet technologies, it has pioneered a novel health management model integrating “Internet + Healthcare + Pharmaceuticals,” earning widespread acclaim from hospitals, physicians, patients, and pharmaceutical manufacturers alike.

In April 2018, Miaoshou Doctor secured nearly RMB 500 million in its Series C financing round, which was led by Tencent Industrial Win-Win Fund, with participation from Kunling Capital, Sequoia Capital China, and Qiming Venture Partners.

He Tao, Founder and CEO of Miaoshou Doctor, stated that in 2018, Miaoshou Doctor solidly delivered clinical pharmaceutical services across 20 provinces and 63 cities; launched follow-up consultation and medication management services for four specialty lines; initiated collaborations with numerous Grade A tertiary hospitals to develop and operate internet hospitals and facilitate prescription platform circulation; and gained recognition from many leading domestic and international pharmaceutical companies, achieving rapid business growth. He added that 2019 would be a year of rapid development for the healthcare industry, during which Miaoshou Doctor would focus on “service delivery” to provide professional value to doctors, hospitals, patients, and the pharmaceutical industry.

Zheng Tuo, Managing Partner and CEO of Xingjie Capital, stated, “We are honored to participate as an investor in Miaoshou Doctor’s current funding round. As a newly established private equity investment firm, Xingjie Capital is committed to investing in high-quality enterprises within the new economy sector. ‘Internet + Healthcare’ is one of the key emerging industries vigorously promoted by the government. To thrive amidst the current wave of healthcare reform, companies must possess systematic industry insights and stable service delivery capabilities. We believe that Miaoshou Doctor is a platform-based company with precise industry understanding and scalable growth potential, aligning closely with our investment philosophy. We are confident that Miaoshou will grow into a leading enterprise in the ‘Internet + Healthcare’ industry.”

Zhou Kui, Partner at Sequoia Capital China, stated: “Steady and solid progress” has been my impression of Miaoshou Doctor over our many years of collaboration. Each interaction has revealed Miaoshou Doctor’s deepening understanding of its business and the rapid advancement of its operations. They are building a startup that is “one centimeter wide and one kilometer deep” through concrete actions. In an era of significant industry transformation, Miaoshou is well-prepared.