The Inevitable Has Arrived: Unveiling the 'Future Healthcare 100'
The unknown is the common starting point for the healthcare industry, yet there are always those who break free from rigid mindsets, undaunted by challenges, to seek answers to the medical issues of our time.
Navigating a path strewn with thorns and fraught with difficulties, as China’s vast healthcare market conceals countless “pain points” and “hidden reefs.” The primary healthcare system remains critically weak and is increasingly failing; doctor-patient relations are tense and adversarial, undermining physicians’ professional confidence; medical resources are severely unevenly distributed, with large hospitals overcrowded while smaller facilities operate at the limit of their capabilities; the mechanism of subsidizing healthcare providers through drug markups persists, and a scientifically sound compensation system has yet to be established; the threat of population aging is imminent, while the foundation for chronic disease management remains unstable; and despite an economic downturn, healthcare costs continue to rise.
We face a “prisoner’s dilemma,” with no one telling us what is right. Yet new technological breakthroughs and innovations are quietly transforming the world and reshaping the new healthcare ecosystem.
In 2014, the “Internet Plus” wave swept across the industry, drawing in “barbarians at the gate,” pharmaceutical commerce companies, hospitals, pharmaceutical manufacturers, and medical information technology firms, all eager to cultivate the untapped frontier of internet healthcare.
In 2015, internet healthcare companies advanced by leaps and bounds, bringing disruptive changes to medical consultation methods, the doctor-patient ecosystem, patient experience, and medication purchasing practices. The hospital system, insurance framework, and pharmaceutical industry faced restructuring. Unicorn companies that accurately seized the opportunities emerged in large numbers, enjoying a period of immense prominence. This surge was driven by technological advancements, the gradual opening of national policies, the inherent rigid demand for healthcare services, and, inevitably, the frenzied pursuit of capital.
In 2016, the market gradually returned to rationality, with both investors and practitioners clearly sensing a stark and desolate chill of winter.
As Bert Roberts once said, “We run forward madly, then suddenly change direction.” Yet no one can say for certain where the future of healthcare is headed or what the full landscape of innovative healthcare in China will look like. Nevertheless, we believe that a powerful force is reshaping the future of healthcare. Emerging from the wild, untamed realm of innovation, these actors are breaking through traditional barriers and establishing new rules. They constitute the core driving force of China’s future healthcare industry—the Future Healthcare Top 100!
"Top 100 Future Healthcare Companies" is divided into two sections: domestic and overseas. The purpose of the "Top 100 Future Healthcare Companies" 2016 China List is to select Chinese innovative healthcare enterprises that truly represent the future of healthcare within the healthcare industry, identifying the core forces driving China's future healthcare sector. Perhaps one day in the future, when people look back on 2016, they will inadvertently realize that this year was the starting point for everything, with the key driving force being these outstanding enterprises we have selected. This list uses company valuations verified by VCBeat based on comprehensive information from various sources as the sole evaluation criterion. It selects 100 non-listed companies (including those listed on the New Third Board) in China's healthcare sector, ranking them in descending order by market valuation.
The “Future Healthcare Top 100” 2016 Overseas List targets overseas healthcare and medical enterprises, selecting them based on their latest valuations and ranking them from highest to lowest. It aims to identify global industry trends and provide important references for the development of China’s healthcare and medical industry.
This is China’s first ranking list targeting unlisted companies in the innovative healthcare sector. The list uses company valuations verified by VCBeat through comprehensive information from various sources as the sole evaluation criterion. It selects 100 unlisted enterprises in China’s healthcare industry (including companies listed on the National Equities Exchange and Quotations, or NEEQ) and ranks them in descending order based on market valuation. Each year, the top 100 most valuable unlisted companies in the future healthcare industry are selected, and awards such as “Most Watched Company,” “Most Promising Company,” and “Top 5 in Golden Tracks” are presented.
All participating companies must meet the following conditions:
1. Non-listed companies in the healthcare sector
2. Capability for Sustained Operations
3. Secured at least angel-round financing
4. Nominated by at least one expert advisor on this list
5. Still operational as of December 15, 2016
6. Primary operations are based in mainland China
Following the nomination and review processes, the final ranking is determined based on corporate valuations to publish the list.
We have established a total of six awards to recognize enterprises, institutions, or individuals that have demonstrated innovation across various fields.
1. “Top 100 Future Healthcare Companies” – Top 5 Golden Tracks
This award targets the specific sectors represented by companies on the “Top 100 Future Healthcare Companies” list, selecting winners based on a comprehensive assessment of market activity, total financing amounts, and the number of financing events within each sector. It aims to identify the year’s most promising growth avenues in China’s healthcare industry and provide valuable insights for future healthcare investment.
2. “Top 100 Future Healthcare Companies” Most Watched Enterprise Award
This award aims to identify leading enterprises across various sectors of future healthcare, with a total of 10 companies selected. The comprehensive ranking is based on criteria including market activity, industry influence, and technological and product innovation.
3. “Top 100 Future Healthcare Companies” Most Promising Enterprise Award
This award will rank companies by sub-sector, selecting up to two enterprises per sub-sector. The comprehensive ranking is based on factors such as the degree of business model innovation, technological innovation, founding team background, and market entry strategy, with the aim of identifying dark horse enterprises in each sub-sector.
Sub-sectors
Technology-Driven: Artificial Intelligence, AR/VR, Medical Robotics, Medical Imaging, Genetic Testing, Healthcare Big Data, Healthcare SaaS, etc.
Service-Driven Categories: Cross-Border Healthcare, Tiered Diagnosis and Treatment, Rehabilitation and Nursing, Medical Consultation Services, Medical Aesthetics, Pharmaceutical E-commerce, Oncology, Maternal and Child Health, Traditional Chinese Medicine (TCM), Smart Medical Devices, etc.
4. “Top 100 Future Healthcare” Most Influential Investment Institution
This award is designed for investment institutions. Based on a comprehensive ranking that considers the number of invested companies, investment amounts, and the market performance of portfolio companies, it aims to identify the most influential capital drivers in China’s healthcare market.
5. “Top 100 Future Healthcare” Most Innovative Hospital President
This award is dedicated to hospital presidents in China who demonstrate the most innovative thinking and are committed to driving innovation practices. Against the backdrop of the rapid development of the healthcare industry, candidates are selected based on a comprehensive evaluation of their strategic vision, innovative mindset, practical execution capabilities, and industrial influence. The aim is to improve the future healthcare industry environment, address key bottlenecks, and drive industrial transformation.
6. “Top 100 Future Healthcare Companies” Most Influential Listed Enterprise
This award targets listed companies across the industrial chain, with a maximum of two enterprises selected from each segment. Based on comprehensive criteria—including business model innovation, technological advancement, and industry consolidation—the selection aims to identify listed companies committed to driving transformative changes in the industrial chain and to highlight exemplary models of traditional enterprises undergoing successful transformation and development.
Sub-sectors: Insurance, Pharmaceuticals, Pharmaceutical Distribution, Healthcare IT, Medical Devices
The “Top 100 Future Healthcare Companies” selection process is divided into three stages: nomination, review, and announcement. The final complete list will be released in late December 2016 or January.
1. Nomination Phase: November 7, 2016 – December 7, 2016
This phase is open to the entire Chinese society for collecting information on companies in the medical and healthcare sector, and expert advisors will conduct nominations based on the relevant information.
2. List Review Phase: December 7, 2016 – December 23, 2016
The preliminary ranking has been compiled, and expert advisors have been invited to review key valuation information.
3. List Announcement Phase: Late December 2016 or Early January
This list is announced to the general public.
