Pharmacy E-tailer 7Lekang Completes USD 9-digit Series B
Iyiou, 11/05/15
Guangzhou-based Qilekang Pharmaceutical Chain, operator of online B2C pharmacy platform 7Lekang, recently announced that it completed USD 9-digit Series B funding in October from undisclosed investors. In August, 7Lekang CEO Shi Zhenyang said that Series B funding would be used to recruit doctors, pay doctor service fees, and subsidize patients' medical purchases.
Qilekang Pharmaceuticals, established in 2001, currently operates 9 pharmacy outlets in Guangzhou. It began B2C pharmacy e-commerce operations in 2011. In 2014, Qilekang's online pharmacy sales totaled RMB 771 mln. According to data from Tmall Drugstore, the pharmaceutical channel operated by Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA), Qilekang's monthly sales in September 2015 were RMB 38 mln, of which sales through the 7Lekang platform, Tmall Drugstore, and B2C e-commerce platform JD.com (Nasdaq: JD) amounted to RMB 10 mln, 21 mln, and 7 mln, respectively.
In August 2015, CEO Shi Zhenyang announced that the company would launch a mobile health management app called "Dabai Yunzhen."
Editor's Note: 7Lekang's Dabai Yunzhen app, currently available on leading app stores, allows doctors to manage patient information and appointment times.
Keywords: Shi Zhenyang e-commerce Internet funding B2C Series B Qilekang 7Lekang online healthcare mobile healthcare mobile application Dabai Yunzhen
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