Globe Newswire 14-Jan-2019 6:08 AM
SHANGHAI, China, Jan. 14, 2019 (GLOBE NEWSWIRE) -- 111, Inc. (NASDAQ:YI) ("111" or the "Company"), a leading integrated online and offline healthcare platform, today announced that it presented at the 37th Annual J.P. Morgan Healthcare Conference which took place on January 7-10, 2019, in San Francisco, CA, USA.
Mr. Junling Liu, Chairman and CEO of 111, presented on behalf of the Company during the conference where he outlined the extraordinary opportunities being created for healthcare delivery in the internet age as the government reforms the sector. Mr. Liu commented, "111's mission is to build the largest integrated online and offline healthcare platform in China powered by technology. There continues to be a crisis in China's health care system, with outpatient hospital visits taking over 3 hours on average with only one general practitioner for every 6,666 people. The healthcare sector is also fragmented and full of inefficiencies today given the uneven geographic distribution process for pharmacies reaching out to the tier 1 and tier 2 distributors not to mention pharmaceutical companies directly. In recent years, there has been a huge push from the central government to mobilize medical resources, improve drug distribution transparency and efficiency, and encourage innovations in developing quality new drugs."
"We have successfully built the technological infrastructure to modernize this experience for consumers through our integrated online and offline solutions. We are the enabler of a revolutionary healthcare ecosystem which includes pharmaceutical companies that source from 80 leading manufacturers and 243 distributors, insurance companies that use a new closed-loop internet "healthcare + pharma" pharmacy benefit management model, the world's largest virtual pharmacy network serving over 130,000 pharmacies, 90 full-time in-house medical professionals and 2,000 external doctors, as well as more than 15 million registered users on our platform. We believe we are ideally positioned in the healthcare market to benefit from this significant growth opportunity."
About 111, Inc.
111, Inc. (NASDAQ:YI) ("111" or the "Company") is a leading integrated online and offline healthcare platform in China. The Company provides hundreds of millions of consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy and indirectly through its offline pharmacy network. 111 also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation and electronic prescription services. In addition to providing direct services to consumers through its online retail pharmacy, 111 also enables offline pharmacies to better serve their customers. The Company's online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. The Company's new retail platform, by integrating the front and back ends of the pharmaceutical supply chain, has formed a smart supply chain, which transforms the flow of pharmaceutical products to pharmacies and modernizes how they serve their customers.
For more information on 111, please visit http://ir.111.com.cn/
For more information, please contact:
Mr. Christian Arnell
Ms. Linda Bergkamp
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