Miao Health Files for IPO: Aiming to Become the Gateway Platform in Digital Health Management

In the realm of internet “healthcare,” opportunities to build large-scale platforms have nearly vanished. In segments such as appointment scheduling, online consultations, physician social networking, and pharmaceutical e-commerce, platform-type companies like WeDoctor Group, Chunyu Doctor, DXY, and Tmall Pharmacy have already established themselves, and the market landscape for internet healthcare platforms has taken initial shape. However, in the broader field of internet “digital health,” the platform-level market remains an “untapped frontier,” with Miao Health being one of the pioneers strategically positioning itself in this space.



Seizing the Entry Point to Health Management

It is worth mentioning Kong Fei, CEO of Miao Health. Before joining Miao Health, Kong Fei witnessed the ten-year rise and fall of the gaming industry. Compared with the medical market, the broader health sector offers greater openness and a larger market capacity. Kong Fei believes that “a comprehensive health management platform represents a windfall opportunity similar to what the online gaming industry experienced ten years ago.”

However, unlike the gaming industry, mobile health is a more serious sector, where commercialization and professionalization present significant challenges. Similar to the gaming industry in its early stages, the nascent mobile health market allows for a relatively high tolerance for error—“making mistakes while growing, but without slowing down.” Furthermore, just like the gaming market, the health market requires deep engagement with users.

According to Kong Fei, Miao Health pioneered business model innovation by adopting a B2B2C approach to maximize platform advantages and openness to “users.” The term “users” here refers not only to individual consumers and families but also to corporate clients—such as insurance companies, health examination centers, and banks—as well as their end users. Miao Health can customize health management products and services according to the needs of these corporate clients. This strategy lowers the barrier for industry players to enter the mobile health market while strengthening user stickiness by meeting the needs of the enterprises’ end users.

Miao Health has established a Medical and Health Department, which currently employs 17 full-time healthcare professionals, including dietitians, psychological counselors, and chronic disease specialists. As planned, the experts within Miao Health’s Medical and Health Department will be structured into three tiers: the Expert Advisory Group, the Physician Group, and the Physician Assistant Group.

Furthermore, Miao Health has established specialized big data algorithms and databases, enabling the intelligent matching of basic medical and health knowledge processing through cloud computing and applications. The expert team is primarily responsible for building the medical knowledge base and providing targeted services for complex issues.

Deepening User Engagement

Unlike the verticalized and programmatic health management products on the market, Miao Health chooses to establish a closed-loop health management system by starting with users’ daily behaviors. In addition to collecting user health data through smart hardware or wearable devices, Miao Health also provides customized health management services tailored to different user needs.

The core feature of customized health management services is that Miao Health can provide a targeted, gamified behavior management plan based on the health status of different users. By leveraging game-like task mechanisms and reward systems, it encourages users to actively participate in interactions, thereby fostering healthy lifestyle habits. These interactive mechanisms are tailored to individual users, maximizing alignment with their daily routines and, consequently, enhancing user “stickiness.”

“In addition to product-level innovation, Miao Health provides customized apps or service modules to prominent industry clients, leveraging the market influence of these industry giants to conduct market education and deepen its engagement with industry users. The strategies adopted by such industry leaders have a demonstrative effect, inspiring other companies in the sector to recognize the importance of customer health management.”

Kong Fei believes that there are still few platforms offering similar services to small and medium-sized health checkup institutions and insurance companies, which presents an opportunity for Miao Health.

Leveraging Sanpower Group’s Strategic Alliances

When discussing the reasons behind the rapid user accumulation of the Miao Health APP, it is impossible not to mention Sanpower Group.

Kong Fei introduced that, leveraging the resources of Sanpower Group, Leyu Communications, also a subsidiary of Sanpower Group, has a retail network covering 230 cities across 26 provinces in China. It operates more than 2,000 physical stores, employs approximately 15,000 promotional staff, and has nearly 20 million registered members. The two brands have launched a series of collaborations targeting the Double 11 shopping festival and year-end holiday promotions. On one hand, Miao Health has expanded its user acquisition channels through Leyu’s offline presence; on the other hand, Leyu has strengthened its mobile internet value-added services through its partnership with Miao Health.

Kong Fei stated that prices in physical offline channels are now aligned with online platforms. Products such as blood pressure monitors, glucometers, and children’s smartwatches—accessories for mobile phones—have also begun to be sold through offline channels, activating a large number of potential users with health management needs in the offline market.

To this end, Miao Health will provide enhanced value-added health management services to users of the group’s affiliated brands through offline channels. For instance, users who pay a specified amount for mobile phone credit will receive a “Health” gift package, which includes a range of services such as appointment registration, physician consultations, and insurance coverage. This also represents one of Miao Health’s current revenue models, allowing users to either subscribe on a monthly basis or make a one-time purchase of related products and services.