China's Top 10 Internet Healthcare Pioneers of 2014–2015 File for IPO

Last time, we discussed “Top 10 Events in Internet Healthcare, 2014–2015”, behind every event are people, making them more vivid and relatable. The events may be new, but the people involved may not be. Looking back, there is a significant difference between the leading figures in internet healthcare and those in the TMT (Technology, Media, and Telecom) sector. The healthcare industry tends to place less trust in younger generations; there are virtually no professionals born in the 1990s, and even those born in the 1980s are rare.

This is a fascinating phenomenon, marking a shift from “Internet + Healthcare” to “Healthcare + Internet.” In this field, which bears on human dignity and even lives, internet entrepreneurs who once charged ahead aggressively have come to deeply appreciate this reality. Here, the effectiveness of subsidies is diminished. A classic scenario illustrates this: if you ask users to download an app in exchange for a subsidy, they might respond, “If you can help me find a good doctor, I’ll pay you instead.”

After multiple rounds of internal deliberations and debates, the editorial team of VCBeat and the VCBeat Internet Healthcare Research Institute selected their top ten influential figures in internet healthcare for 2014–2015. The guiding principle was that, regardless of success or failure, each individual must have a distinct personal brand, and their endeavors must have exerted a significant impact—whether positive or negative—on the industry’s progress.

(Advertisement: If you believe you are outstanding, passionate, and responsible, please contact us.)2015 Internet Healthcare Rankings”, waiting for you!)

Let’s cut to the chase and get started!

Zhang Rui: All Great Things Initially Seem Like a Joke



Before discussing Zhang Rui, the editor would like to add a brief note. In 2014, VCBeat launched a series of reports titled “Deconstructing Chunyu Doctor,” and to this day, many readers still request these materials to study Chunyu Doctor.

Sharing this information is meant to convey that Chunyu Doctor serves as a symbol within China’s internet healthcare sector. It stands as the banner through which external observers understand internet healthcare, a key reference platform for the contentious interactions between traditional medical practitioners and internet industry professionals, the most vocal advocate for promoting the adoption of internet healthcare products among doctors and patients, and a mirror reflecting the investment community’s perspective on internet healthcare. After this series of elaborate parallel statements, readers should be able to form a clear impression of Chunyu Doctor.

Next, it is time to discuss Zhang Rui. Having pioneered numerous groundbreaking, unconventional, and disruptive initiatives, Chunyu Doctor has endured both widespread acclaim and fierce criticism, yet continues to press forward with determination. Its leader must therefore be a person of distinct character and abundant dreams. Indeed, this is the case: Zhang Rui is a man driven by deep sentiment. (Note: Within our circle of “sentimentalists,” the term “sentiment” is often used pejoratively, implying foolishness and stubbornness.) One need only consider the immense courage required to tirelessly articulate a dream that most people fail to comprehend.

Zhang Rui has been speaking for four years. During this period, internet healthcare has evolved from a little-known concept into a prominent and popular industry. Nevertheless, Chunyu Doctor remains misunderstood by many, particularly regarding its business model. The period when Zhang Rui garnered the highest attention on the Baidu Index was during his 18 public debates with the president of Peking University First Hospital.

Of course, Chunyu Yisheng’s expansion into offline services has also sparked widespread controversy. There was also that peculiar article that inexplicably went viral: “On the Downfall of Chunyu.” Zhang Rui and Chunyu Yisheng were mired in controversy from the beginning to the end of the year.

Zhang Rui responded, “As Christensen said, ‘Everything that can be called great looks like a joke at the beginning.’” “Internet healthcare is like a group of outliers breaking into a highly traditional field, causing some discomfort. I do not want to compromise.”

Ultimately, Chunyu Yisheng has undertaken several key initiatives: 1. Achieved a transaction volume of RMB 150 million; 2. Established partnerships with insurers; 3. Launched offline clinics. These three efforts all represent attempts at monetization. I believe many industry peers are closely observing Chunyu Yisheng, as its every strategic move is being emulated by numerous others.

Zhang Rui stated that Chunyu Doctor’s offline clinics will definitely reach 1,000 locations by the end of next year. We also look forward to seeing him deliver on this promise.

Liao Jieyuan — The Person Who Best Understands the Healthcare Attributes



After discussing the passionate Zhang Rui of Chunyu Doctor, let us turn to Liao Jieyuan, the founder of WeDoctor Group, who is known for his low-key and humble demeanor. To put it slightly more boldly, WeDoctor Group has now become a leader in the internet healthcare sector, commonly regarded as the winner. In December, WeDoctor Group completed a $300 million financing round, officially entering the unicorn club.

WeDoctor and Chunyu Doctor are the most compelling case studies for examining the development of internet healthcare in China. Chunyu Doctor was born out of passion, charging forward with revolutionary aspirations. In contrast, WeDoctor Group’s growth stemmed from a breakthrough at a single, focused point.

To begin with, it is important to highlight Liao Jieyuan. With a background in IT, he did not immediately pursue an internet-based approach when entering the healthcare sector. Instead, he initially focused on addressing appointment registration challenges for governments and hospitals. This initiative was the precursor to Guahao.com (WeDoctor). Liao Jieyuan pragmatically leveraged his technical expertise and resources, choosing to start with internal system reforms. It should be acknowledged that Guahao.com made significant contributions by enabling governments and hospitals to open up and integrate with its platform. At that time, the concept of “internet healthcare” had not yet entered public discourse.

It was against this backdrop of accumulated experience that Guahaowang completed its initial accumulation of technology, resources, and products, positioning itself to capitalize on the subsequent surge in supportive policies. In fact, there are numerous companies similar to Guahaowang across China; however, it is rare to find those that can diligently refine their products and then seize the opportunity to achieve significant growth when the time is right.

Liao Jieyuan’s low-key and humble demeanor may help him garner greater support at higher levels. For instance, it has come to our attention that while aggressively expanding market presence on the front lines, Mr. Liao worked tirelessly and maintained a modest attitude, leaving many with a highly favorable impression of him. As we have observed, throughout Guahaowang’s fundraising journey, he has consistently enjoyed the backing of influential benefactors.

In many of his speeches, Liao Jieyuan has highlighted WeDoctor Group’s technical team of over 300 members, a fact that even surprised Ma Huateng. With an IT background, Liao Jieyuan excels at integrating diverse resources while placing strong emphasis on technological breakthroughs. Coupled with effective internet-based operations, it is well-deserved that WeDoctor Group has achieved such remarkable success.

Nevertheless, all roads lead to the same destination: Liao Jieyuan and Zhang Rui are both engaged in the same endeavor—exploring viable business models. WeDoctor Group has also integrated insurance into its ecosystem, with a core focus on building physician teams. The Wuzhen Internet Hospital, which went viral at the end of the year, is also one of WeDoctor’s proudest achievements.

According to VCBeat, WeDoctor Group currently connects hospitals across 26 provinces (autonomous regions), has established connections with 1,600 key hospitals, and offers online appointment registration and telemedicine services provided by more than 200,000 experts.

We eagerly anticipate that WeDoctor Group will deliver an even more impressive performance in 2016!

Zhang Ligang and Yu Rong—The Twin Titans of Health Checkups!

Having discussed the two giants of internet healthcare, let’s now turn to the two leaders in health checkups!

Not long ago, an acquisition case in the private health checkup industry sparked widespread controversy, with iKang Guobin, led by Zhang Ligang, and Meinian Onehealth, backed by Yu Rong, as the main protagonists. The current situation is that one party has firmly rejected the offer, while the other is determined to press on at all costs!



According to public records, Zhang Ligang graduated from Harvard Medical School with a master’s degree in genetics. In 1999, he returned to China with Charles Zhang to co-found Sohu, and later co-founded eLong.com, serving as its CEO. In 2004, he founded iKang.com, returning to his original field, and has been diligently working in the industry for the past 11 years. Notably, the term “diligently working” underscores his identity as a genuine, hands-on practitioner.

He stated that he would dedicate his life to the health industry.

Yu Rong, a graduate of the Department of Communication Engineering at Shanghai Jiao Tong University, initially worked in real estate before establishing Tianyi Group, an investment-focused conglomerate. His prior investment portfolio was highly diversified. Although he founded Meinian Onehealth in 2006, it did not experience significant growth until he began making substantial investments in 2011. This included merging with Shenyang “Big Health” to establish Meinian Big Health, followed by the acquisition of Ciming earlier this year.

Based on the journey thus far, Yu Rong is more adept at capital operations.

In 2015, the health checkup sector experienced significant upheaval, largely driven by the influx of mobile internet trends. The health checkup market rapidly integrated with online healthcare and health management services, transforming health checkups from mere service items into comprehensive products and substantially expanding their service reach. Both iKang Guobin and Meinian Onehealth actively strategized in this space, including making strategic moves at the capital level.

Why Meinian Onehealth is so determined to forcibly acquire iKang Guobin remains a mystery to this editor. What is clear, however, is that the fierce competition in the health checkup market has not yet reached its peak intensity, as public hospitals and other dominant but less visible players still control the majority of the market, holding over 80% of the market share.

Especially at the end of the year, the spotlight on the two leading players in the health checkup industry was completely stolen by Wang Shi and Baoneng. We hope that iKang Healthcare Group and Meinian Onehealth can fight a more impressive battle in 2016, expanding and strengthening the “health checkups + internet” market.

Duan Tao—The “Internet+” Hospital Dean Is Exceptionally Charming

Duan Tao and Zhang Qiang are remarkably alike: proactive, sunny, open-minded, charismatic with a massive following, and energetic. They both maintain profiles on Weibo, WeChat, and Haodafu, and, of course, they are both handsome.

In different contexts, Zhang Qiang is a top-tier physician, while Duan Tao is not only an outstanding physician but also the president of a Grade 3A hospital.

The development of internet healthcare faces challenges not only with physicians but, even more so, with hospitals. Duan Tao is one of the reasons why many internet companies feel hopeful, as he is deeply passionate about the internet. Under his leadership, Shanghai First Maternity and Infant Hospital, affiliated with Tongji University, has become one of the most internet-integrated hospitals in China.

Not long ago, Duan Tao participated in a group interview hosted by VCBeat, which attracted a large number of fans. The key takeaway was that Duan Tao sincerely discussed the challenges and opportunities in internet healthcare, expressing his hope for further improvements in the field. He pointed out that hospitals have many pain points that need to be addressed.

Over the past two years, Duan Tao has been a representative figure at the intersection of hospital leadership and digital health. His presence has been felt across hospital administration, internet healthcare initiatives, and startup ventures. Meanwhile, he has consistently authored high-quality articles, bridging practice and theory, and offering valuable insights and perspectives that have contributed to the development of China’s internet healthcare sector.

We hope to see more outstanding hospital directors like this emerge in 2016!

Zhang Qiang: A Roar at Injustice, Action When Needed

On July 1, 2014, Zhang Qiang founded China’s first multi-specialty physician group: Zhang Qiang Medical Technology Co., Ltd. The tremendous response it garnered speaks for itself; here, we will focus on introducing Zhang Qiang himself.

Some time ago, CCTV selected its “Most Beautiful Doctor,” a decision that sparked widespread online criticism. For instance, Dr. Abao remarked that the award recognized not the “most beautiful” doctor, but rather the “most miserable.” In this editor’s view, a true “Most Beautiful Doctor” should be someone like Zhang Qiang—positive, diligent, upbeat, approachable, and radiating positive energy. And, of course, good-looking too.

One of the editor’s firm beliefs is that physicians deserve respect and embody beauty, as they save lives and heal the wounded, possessing the most professional and formidable expertise. A few days ago, renowned writer Mr. Liu Qian published an article on how to view mobile health, noting that it depends on which lens you choose to look through. In response to the evolution of healthcare, Zhang Qiang has chosen to confront challenges head-on and create positive change in the world, rather than remain passive while complaining and struggling within the status quo.

Zhang Qiang has participated in two group interviews hosted by VCBeat. While his verbal descriptions of the Zhang Qiang Doctor Group have undergone many changes, the only constants are his confidence, composure, and enthusiasm. The editor also observed his exceptional diligence; on one occasion, out of curiosity, the editor checked Dr. Zhang’s profile on Haodafu and was surprised to find that he was still actively answering patients’ questions.

In many discussions with entrepreneurs about the challenges of recruiting physicians—such as their busy schedules and conservative nature—Dr. Zhang Qiang often comes to mind. Being busy is never an excuse; what truly matters is whether you are worth their time. From a physician’s perspective, Dr. Zhang has eloquently illustrated that in the internet healthcare industry, nothing is impossible; rather, it is only impossible if there is no genuine value.

Over the past year since its establishment, the physician group has achieved significant milestones while also encountering numerous challenges. In the professional realm, Dr. Zhang Qiang has performed exceptionally well by assembling multiple expert teams, partnering with high-end private healthcare institutions such as United Family Healthcare and Word Medical Center, attracting a substantial number of high-quality patients, and inspiring many physicians to establish or join physician groups. However, in the capital market, Dr. Zhang Qiang still needs to continue facing challenges head-on.

Stepping outside the system requires immense courage. We also look forward to seeing Dr. Zhang Qiang’s Physician Group go from strength to strength.

Yu Gang: Making a Comeback to Re-enter the Pharmaceutical E-commerce Arena!

On July 14, 2015, Walmart announced the departures of Yu Gang and Liu Junling, founders of Yihaodian.

“This was the most challenging chapter in my career, and also the one hardest to leave behind,” Yu Gang stated after his resignation.

His next target is the pharmaceutical e-commerce platform “111.com,” as he seeks a comeback. It is reported that 111.com was once a channel of Yihaodian; during Walmart’s controlling stake, it was spun off into an independent entity because foreign investors were prohibited from entering the pharmaceutical sector.

Currently, 1 Drug Network primarily focuses on the trading of pharmaceuticals and health supplements.

Furthermore, leveraging the power of capital, 111.com has undertaken a series of investments and acquisitions spanning hospitals, postpartum care centers, health check-up centers, wearable devices, and nursing homes.

Yu Gang stated that 1YaoWang aims to become a leader in the internet pharmaceutical e-commerce sector. In the future, the platform will go beyond conventional online drug sales by integrating hospital resources and leveraging internet technologies and wearable devices to provide consumers with comprehensive solutions encompassing medical care, pharmaceuticals, and health management, thereby making online consultations and online medication purchases habitual for users.

Yu Gang revealed that 111.com is currently building an “Internet+” medical and health ecosystem, comprising an online pharmaceutical retail platform, an online pharmaceutical wholesale platform, and an online medical service platform.

In October, 111.com completed a RMB 1 billion Series D financing round, becoming the first pharmaceutical company in China to secure Series D funding. The pharmaceutical e-commerce sector was highly active in 2015, and Yu Gang, a major player in the industry, had only just begun his journey. Here’s hoping this “big boss,” who has reached the age of fifty—a time traditionally associated with understanding one’s destiny—will continue to grow stronger and more courageous in the battles ahead!

Ma Xingtian: Capital + Internet + Traditional Chinese Medicine

From its decisive transformation into the traditional Chinese medicine (TCM) sector, to pioneering industry standards, and further to building a full industrial chain and venturing into e-commerce for TCM materials, each strategic move marked an ongoing journey without end. This is the “TCM Empire” created by Ma Xingtian—Kangmei Pharmaceutical.

Since the establishment of Kangmei in 1997, it has evolved to embrace the “Internet + Traditional Chinese Medicine” model across its entire industry chain.His approach is becoming increasingly bold.

Nowadays, Kangmei Pharmaceutical is leveraging the Internet to comprehensively build an “Internet+” traditional Chinese medicine (TCM) industry chain centered on the production of TCM decoction pieces and structured around a system of “Big Health + Big Platform + Big Data + Big Services.” The company recently raised RMB 8.1 billion through a private placement to accelerate the implementation of its “Internet+ Big Health” strategy.

This empire is no longer merely defending its own territory with military force; it is now on the offensive, capturing cities and expanding its domain!

Over the past year of VB Weekly by VCBeat, Kangmei Pharmaceutical has been one of the pharmaceutical companies with the highest frequency of appearances. In the realm of capital plus internet, Ma Xingtian is undoubtedly a top-tier player.

To be honest, the editor is particularly eager to see how this 8.1 billion yuan will be spent in 2016.

Wang Tao: Internet healthcare can only develop a viable business model by achieving deep integration.

Prior to 2014, Wang Tao was aThoroughlyIT professionals.

And now, he has become a highly controversial figure in the internet healthcare sector. As one of the “Five Tigers” recruited by Ma Mingzhe to Ping An, he not only revived the health insurance business that had been Ma Mingzhe’s greatest headache, but also paved a new path for the entire health insurance market—a route that, in the past, hardly anyone dared to imagine or pursue.

The first thing he did after crossing over was to revive Ma Mingzhe’s “Three Networks in One” strategy, which had been conceived more than a decade earlier. In his own words, it was about giving health insurance the “wings” of the internet.

Reforming the system, launching Ping An Health Steward, introducing Ping An Good Doctor, and other strategic moves have gradually formed a complete O2O closed loop, ultimately achieving a new health industry chain with the integration of three networks.

He stated, “In this industry, if you operate with thin margins, it is indeed difficult to achieve success. If your involvement remains superficial, you may end up providing services for free indefinitely; only by delving deeply can a viable business model emerge.”

Cross-industry moves aren’t scary; what’s truly alarming is when those from other fields understand your domain better than you do.

Chen Fangyi: Secured Four Rounds of Financing in Two Years, Winning the Favor of 100 Million Women

Finally, there’s someone born in the 1980s.

As a representative of post-85s college student entrepreneurs, he has become a serial entrepreneur.

He founded Fanhuan.com at the age of 22 and established Linggan Fangzhou (Inspiration Ark) at 23. He also launched Ruguoyun, Youpin.com, and Meiyou Period Tracker, among others. In April 2013, he founded Xiamen Meiyou Information Technology Co., Ltd., and later that year, introduced Meiyou, a female-focused community platform.

Meiyou, with menstrual cycle tracking as its entry point, also provides women with services for preconception planning, pregnancy, childcare, and community interaction. As of December 2015, Meiyou had over 100 million users, millions of daily active users, and approximately 150 highly active female-focused topic communities.

Most eye-catching is that Meiyou has secured four rounds of funding to date! The most recent round occurred on December 8, when the company raised tens of millions of U.S. dollars in Series D financing from Matrix Partners China and Cathay Private Equity Fund.

Founded less than three years ago, it has been recognized by the industry as one of the next mobile apps most likely to rapidly achieve a $1 billion valuation.

As a fellow editor born in the 1980s, I’m already shedding tears of nostalgia.

“Those who are more accomplished and better-looking than you are still working harder—what’s your excuse for slacking off?” Keep pushing, brother!