SHANGHAI, Feb. 20, 2020 /PRNewswire/ -- 111, Inc. (NASDAQ:
YI, "111" or the "Company") has announced that it will leverage its
knowhow and technology in the battle against the novel coronavirus
(COVID-19) public health crisis,
through partnerships with some of China's leading financial institutions to
distribute medical services via apps to their extensive consumer
bases. Currently 111's partnerships with the Industrial and
Commercial Bank of China, UnionPay
QuickPass, Shanghai Pudong Development Bank, Wuhan Zhongbang Bank,
Yiren Wealth, among others, are providing free online medical
consultations. 111's partnership with the Industrial and Commercial
Bank of China is a pilot program
aiming to provide online consultation to 13 million users in
Shanghai.
Dr. Gang Yu, Co-Founder and Executive Chairman of 111, said: "So
far, we have partnered with roughly 30 companies from the financial
sector to offer free online consultation and prescription refills
to their customers. These partnerships allow us to take advantage
of our technological strengths as an Internet healthcare company to
expand the impact and reach of our offerings. Our partners will be
able to provide unique value-added services such as free online
medical consultations and medication services during the epidemic
to their customers, without adding any further burden to the
offline hospitals and risking contagion."
Since the Lunar New Year on January 24,
2020, 111's Internet hospital has been offering free online
medical consultations to patients in Wuhan, Hubei
Province, the epicenter of the coronavirus. 111 is also
providing free online drug refill services and end-to-end drug
delivery to patients with chronic diseases. The Lunar New Year
holiday period saw a surge in downloads of 111's apps, making 1
Drug Store (app store) the second most popular free medical
services app on Apple's App Store. A
week after its launch, the Company's free online consultation saw
usage increase by 400%. With the support of AI technologies,
doctors at 111's Internet Hospital have been able serve up to 300
patients per day.
111's Internet hospital has over 2,000 in-house and contract
physicians, who provide consultation efficiently with the aid of
the Company's innovative AI technologies. Patients with chronic
diseases requiring refill need simply upload their prescriptions to
111's Cloud Pharmacy where e-prescriptions are generated, subject
to review and approval by 111's medical professionals. During the
current epidemic, 111's smart supply chain centers in China continue to provide timely delivery
services to users, highlighting the strengths of Internet
healthcare companies enabled by technologies.
As part of its plan to develop "Internet + healthcare" services,
China's National Health Commission
issued a notice on February 8
requiring Internet healthcare companies to make full use of online
consultations and medical services to control and prevent further
spread of the epidemic.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Among other things, the
Business Outlook and quotations from management in this
announcement, as well as 111's strategic and operational plans,
contain forward-looking statements. 111 may also make written or
oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Such statements are based upon management's current
expectations and current market and operating conditions and relate
to events that involve known or unknown risks, uncertainties and
other factors, all of which are difficult to predict and many of
which are beyond the Company's control. Forward-looking statements
involve inherent risks, uncertainties and other factors that could
cause actual results to differ materially from those contained in
any such statements. Potential risks and uncertainties include, but
are not limited to, uncertainties as to the Company's ability
comply with extensive and evolving regulatory requirements, its
ability to compete effectively in the evolving PRC general health
and wellness market, its ability to manage the growth of its
business and expansion plans, its ability to achieve or maintain
profitability in the future, its ability to control the risks
associated with its pharmaceutical retail and wholesale businesses,
and the Company's ability to meet the standards necessary to
maintain listing of its ADSs on the Nasdaq Global Market, including
its ability to cure any non-compliance with Nasdaq's continued
listing criteria. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release is as of the date of
this press release, and 111 does not undertake any obligation to
update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
applicable law.
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.cn.
For more information, please contact:
111, Inc.
IR Director
Ms. Monica Mu
E-mail: ir@111.cn
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE 111, Inc.