On August 25, 111, Inc. ("111" or the "Company") (NASDAQ:YI), a company dedicated to digitally connecting patients with drugs and healthcare services in China, and Guangzhou Baiyunshan Pharmaceutical Sales Co., Ltd. ("Baiyunshan Pharmaceutical Sales"), an affiliate of Guangzhou Pharmaceuticals Corporation, signed a strategic cooperation agreement in Shanghai. Under the agreement, 111 will be the first Internet-based omni-channel business partner of Baiyunshan Pharmaceutical Sales. Both parties will deepen their cooperation in digital medicine innovation to drive the penetration of its expansive portfolio of medical health products into wider online and offline markets through integration of 111's smart supply chain. The partnership also extends to cover the likes of big data, digital marketing, brand co-building and offering of direct services to patients, making concerted efforts to create a quality value chain.
Internet-based medical and health companies have played an active role in the fight against the global COVID-19 pandemic crisis this year, reflecting their value and contributions with recognition from the communities and nations.
Pei Zejian, Vice Director, Great South TCM, Guangzhou Pharmaceutical Holdings Limited, Secretary of the Party Committee and Chairman of Guangzhou Baiyunshan Pharmaceutical Sales Co., Ltd., said the pandemic further accelerated the development of digital healthcare industry and Internet is becoming an increasingly important channel to pharmaceutical companies. Internet not only helps to improve the accessibility of medicines, but also make it convenient for patients to receive medical services. As leader in the industry, 111 has a unique business model that enables and helps pharmaceutical companies to transform and thrive in the Internet era. With a strong basis for cooperation, Baiyunshan Pharmaceutical Sales and 111 are confident that by leveraging and combining their strength, the partnership will benefit more patients in the future.
Dr. Gang Yu, Co-Founder and Executive Chairman of 111 Inc., said that when the medical and health industry ushered in the tide of Internet, Baiyunshan Pharmaceutical Sales always embraces change with an open and innovative mind. In years of cooperation, 111 Inc. and Baiyunshan Pharmaceutical Sales have established strategic partnership. This tight relationship will further expand the depth and breadth of cooperation between the two companies. Driven by 111's digital technology, and supported by the strategy of omni-channel drug commercialization and online/offline integration, the high-quality products of Baiyunshan Pharmaceutical Sales can reach more customers.