Mingyi Zhonghe Snared Over 100 Million Yuan in Series B Financing

As a technology company focusing on developing the online service system of primary care, Mingyi Zhonghe announced that it had completed the B round financing of over 100 million yuan, led by Sinovation Ventures, a famous venture capital institution in China, and followed by Yijing Investment. 

Founded in 2015, Mingyi Zhonghe’s mission is "Serving People’s Health". Through its online platform “Yidebang”, the company provides medical institutions with comprehensive solutions covering medical education, medical information, medical insurance data services, medical supply, and medical cooperation. Its service has covered 11 provinces including Shandong, Guangdong, Hebei, helping 13 million community clinics and village clinics to provide convenience for more than 150 million people.

“Mingyi Zhonghe is the first Internet medical company that focuses on service at villages in China," said Jiang Qiang, the founder and chairman of the company, "There are about 600 million people living in rural areas in China, and the daily medical and health services there are provided by millions of doctors in the primary care system. Mingyi Zhonghe has been serving the most basic medical institutions in the countryside for four years.”

No matter how remote the primary-level clinics are, Mingyi Zhonghe will have their own "butlers" (sharing salesman) to provide services. Until now, Mingyi Zhonghe’s online pharmacy has developed more than 2000 sharing salesmen to deliver the primary medical services. 

Exploring in the field of medical informatization for many years, Mingyi Zhonghe has established an integrated information system for primary medical institutions covering services including HIS, LIS, ERP, CRM, medical insurance coordination and settlement, and public health, which can help clinics improve the operation and management efficiency.

Sinovation Ventures is a leading Chinese technology venture capital, started in 2009 by a team led by Dr. Kai-Fu Lee, with presences in Beijing, Shanghai, Nanjing, Guangzhou, and Shenzhen. It currently manages over $2B AUM between seven USD and RMB funds in total, and over 350 portfolio companies across the technology spectrum in China. The company invests in start-ups at the seed, Series A and Series B stages. 

Founded in June 2015, Yijing Investment has a registered capital of 1 billion yuan. The company’s business covers industrial investment, investment management, asset management, investment consulting and so on.