Miao Health Files IPO Prospectus After Securing $350M in Funding and Forging Closed-Loop Partnerships with Online Pharmacies and Insurers

VCBeat (WeChat ID: vcbeat)It is reported that on July 6, the mobile health management platform Miao Jiankang held a press conference to announce strategic partnerships with Da Te Bao and Renhe Pharmacy Network. By leveraging their complementary strengths, the three parties have established a closed-loop health management system integrating health behavior management, insurance, and medical-pharmaceutical services, marking a significant emergence in the health management sector.

Looking back over the past three months, Miao Health has been highly active. It first completed a RMB 250 million Series B financing round in April this year, then signed a strategic cooperation agreement with Mass General Brigham International on June 29. Coupled with the recent announcement of partnerships with Da Te Bao and Renhe Pharmacy Network, Miao Health is building its “Miao Planet Initiative” health ecosystem.

Looking at the achievements of Miao Health since its establishment,RMB 350 million in funding over two years, partnerships with several renowned companies, and over 20 million registered platform users, it seems that Miao Health is growing in line with the trend of “no slowing down,” as described by its CEO Kong Fei.

Miao Health CEO Kong Fei at the press conference

From the industry’s perspective, this company, which achieved a 40-fold increase in valuation within 20 months, has fully demonstrated its success in exploring business models. To attain even greater success,In the future, Miao Health needs to continue creating value for the industry in areas such as product development, data utilization, service delivery, and ecosystem construction.. The vast untapped potential in the broader health sector, Miao Health’s ambitious vision, and CEO Kong Fei’s cross-industry mindset have all driven the company to continuously seek partnerships with leading enterprises throughout its development.

At this press conference, Miao Health announced that the three-party strategic cooperation with Da Te Bao and Renhe Pharmacy Network includes three parts:

First, applied research in insurance product development.The three parties jointly developed the “Human Health Index” on the Miaojiankang platform, leveraging comprehensive personal health data and medication records. By capitalizing on DataSure’s expertise in the insurance industry, this index is applied to the research, development, and promotion of individual health insurance products. It enables the design of insurance solutions for specific populations, particular diseases, and even emerging risk groups, thereby achieving individualized health-based pricing and establishing a comprehensive insurance service framework.

Second, applied research and promotion in health management.Beijing More Health Technology Group Co., Ltd. provides user data on blood pressure, blood lipids, body fat, sleep, and exercise. The three parties jointly offer services including health assessments, chronic disease management, family care, parenting support, health-focused social networking, self-check medication guidance, and medical navigation. By leveraging gamified operations and social promotion strategies that align with users’ fragmented usage habits, they incentivize users to take charge of their own health, enhance the engagement of health management, and establish a comprehensive health management service framework.

3. Development and Integration of Medical and Pharmaceutical ResourcesBy leveraging Miaojiankang’s existing domestic medical resources and Data Tebao’s global medical resources, and integrating them with the overseas diagnosis and treatment and telemedicine services provided by Renhe Pharmaceutical Network, we offer users medical services such as medical consultations, appointment scheduling, and accompanied consultations. Furthermore, by drawing on Renhe Drug Network’s years of expertise and accumulated resources in the pharmaceutical sector, we provide users with scientifically grounded medication services.

Three Parties Sign Strategic Cooperation Agreement

Previously, Kong Fei, CEO of Miao Health, stated, “With the advent of the mobile internet era, health management is transitioning from the ‘health education’ 1.0 era to the Health Management 2.0 era, underpinned by big data and artificial intelligence.” This three-party collaboration aims to create a closed-loop service ecosystem encompassing “insurance, health, and medical pharmaceuticals,” providing users with comprehensive lifecycle health services. All three collaborations are based on integrating relevant resources into Miao Health’s health management platform, thereby enhancing the health management ecosystem through service diversification.

In addition to integrating service resources in this collaboration, Miaojiankang has also made its own efforts in hardware integration. “Health management cannot be achieved through single-dimensional data analysis and management alone; instead, it requires comprehensive analysis and management of various health-related data,” Kong Fei revealed to VCBeat.To help users import health data from various smart hardware devices, Miao Health has established an open health data platform, [Miao+], which provides SDK (Software Development Kit) interfaces to eligible industry users worldwide.

Currently, the Miaojiankang platform has integrated smart bands, blood pressure monitors, blood glucose meters, body fat scales, thermometers, fetal heart rate monitors, and other devices.Data from over 300 smart wearable devices across 13 categories. It is expected that by the end of 2017, the open interfaces of the Miao+ Data SDK will support thousands of smart health hardware products.At that time, enterprises integrating the [Miao+] SDK will gain access to China’s largest intelligent hardware database service, eliminating the need to negotiate individually with smart hardware manufacturers for data integration and collaboration.。

After navigating numerous collaborations, Miao Health is continually mapping out its corporate landscape. Under the leadership of Kong Fei, Miao Health appears to have surpassed Validic and Welltok—the two U.S. companies once used as benchmarks—in terms of business model. Now, he is steering Miao Health toward becoming a world-class enterprise.

Amidst the landscape where tech giants such as Baidu, Alibaba, and Tencent are aggressively positioning themselves in the healthcare market, Miao Health is no longer operating in isolation. Instead, it is continuously seeking partnerships to expand its health platform services, building an ecosystem that integrates “Big Health,” insurance, and medical-pharmaceutical services. Beyond promoting the concept of health management, Miao Health is, as Kong Fei previously stated, engaged in a “business close to the money.”