Yiya Platform Officially Launches: Empowering New Vitality in the Medical Device Industry and Reshaping the Distribution Landscape

VCBeat (WeChat ID: vcbeat) has learned that on the afternoon of June 6, the national media press conference for the official launch of the Yiya Platform, themed “Empowering New Vitality in the Medical Device Industry and Reconstructing a New Pattern of Medical Device Distribution,” was held at the Pullman Beijing South Hotel. The event was hosted by Lianmeng Medical. Distinguished attendees included Mr. Lin Lei, General Manager of CCB International Healthcare Fund; Ms. Liu Jiangjun, President of China Construction Bank’s Beijing Airport Sub-branch; Mr. Liu Zhenghang, Founder of Tiantang Capital; Mr. Deng Limeng, General Manager of Beibo Medical; Mr. Zhang Jiapeng, General Manager of Boermei Medical; Mr. Zhang Liqiang, Founding Partner of Leifeng Capital; and Ms. Zhang Xiaosi, Founder of Remi, among others. More than 250 participants, including media representatives, attended the event.

Live from the National Media Launch Event for the Official Debut of the Yiya Platform

At the conference, Mr. Yang Kejian, Founder, Chairman, and CEO of Lianmeng Medical, along with other company executives, took the stage to deliver speeches. They provided a detailed interpretation of the company’s commercial operating model for building a full industry chain in the medical device distribution sector, which has brought significant conveniences to the medical device industry.

Yiya Platform Launches Official Go-Live Ceremony

Market Size of China's Domestic Medical Device Industry

Since 2009, driven by factors such as increased government investment under the new healthcare reform and expanded health insurance coverage, China’s medical device industry has experienced rapid growth in recent years. The total market size grew from RMB 128.4 billion in 2010 to RMB 276 billion in 2014, representing a 1.15-fold increase over five years, with a compound annual growth rate (CAGR) of 20.8%. According to forecasts by the China Pharmaceutical Industry Information Center, the market size for medical devices in China is expected to exceed RMB 600 billion in 2019, with a projected CAGR of 16.8%, maintaining a relatively fast growth trajectory.

Mr. Yang Kejian, Founder, Chairman, and CEO of Lianmeng Medical, Delivers a Speech

Throughout the medical device industry chain, the distribution segment serves as a critical link connecting manufacturers with healthcare institutions at all levels, playing a pivotal role in bridging upstream and downstream operations. According to Yang Kejian, founder of Lianmeng Medical, who provided an analysis at the conference, China’s medical device industry currently comprises over 16,000 suppliers, more than 410,000 distributors, and over 1 million end-user institutions. The number of distributors is 25.6 times that of suppliers; however, their average annual gross sales volume accounts for only 10% of the suppliers’ average annual output value, falling far short of overall supply-demand equilibrium. The primary cause of this imbalance lies in the traditional distributor agency model, which is characterized by fragmented distribution, small scale, and multiple hierarchical layers. These issues result in persistently high circulation costs and consistently low service efficiency within the industry.

Mr. Yang Kejian, Founder, Chairman and CEO of Lianmeng Medical, accepted an exclusive media interview at the conference venue.

Since 2016, with the implementation of the national “Two-Invoice System,” intensified government regulation, and the deepening integration of “Internet + Healthcare,” traditional distribution models have become increasingly unsustainable, making innovative transformation in the medical device circulation sector an urgent imperative.

“While ‘Internet Plus’ has permeated nearly every industry, the medical device sector has not yet been truly transformed by it,” stated Mr. Yang Kejian. He emphasized that the integration of the internet and medical devices is an inevitable trend in the development of today’s information society. Its advantage lies in the ability to precisely meet all demands of customers across the entire upstream and downstream supply chain, efficiently optimize various costs, and thereby significantly enhance the overall service efficiency of the industry.

Mr. Gao Quan, General Manager of the National Operations Center of Lianmeng Medical, Delivers a Speech

According to Mr. Gao Quan, General Manager of Operations at the company, Yiya, the first full-category medical device platform in China meticulously built by Lianmeng Medical, is a comprehensive medical device platform integrating incubation, marketing, investment promotion, supply and procurement, and services. It aims to optimize distribution channels, reduce circulation costs, and enhance industry efficiency. “The Yiya platform collaborates with upstream and downstream partners through precise ‘one-on-one’ contractual onboarding. To date, it has signed contracts with 2,027 brands, covering 23,351 product varieties, acquired 300 channel members per month, and accumulated over 100,000 total page views.” Relevant operational data of the platform were showcased on-site.

On-Site Exchange Meeting for Yiya’s Contracted Suppliers and Channel Partners

The service model of the Yiya platform has been widely recognized by industry insiders. “By conducting transactions through the Yiya platform, we not only reduce circulation costs and improve industry efficiency, but also enjoy a range of value-added services provided by the platform. This creates a win-win situation for us!” Partners present at the event unanimously affirmed that the Yiya platform has indeed brought them significant convenience.

Mr. Liu Zhenghang, Founder of Tiantang Capital and Investor in the Lianmeng Medical – Yiya Project, Delivers Remarks

Currently, as a “medical devices + Internet” startup venture, the Yiya Platform has successfully completed its angel round of financing, raising RMB 20 million. At the event, Mr. Liu Zhenghang, founder of Tiantang Capital, the investor in the project, stated, “The Yiya Platform is a project I hold in high regard. The team is highly professional, rich in industry resources, and features a highly innovative business model. I believe its development prospects are very promising.”

It is reported that within less than two years since its establishment, Lianmeng Medical has developed the Yiya Platform into a substantial operation, integrating upstream and downstream resources comprising 14,820 suppliers and 150,000 distributors. Mr. Yang Kejian, the founder of the company, stated, “In the future, we will strive to build Yiya into a comprehensive service platform covering the entire medical device industry chain, providing precise and in-depth medical services to more professionals in the medical device sector.”