(VCBeat) Mar. 16, 2021 -- Akang Health today announced the completion of a Series B financing of nearly 200 million yuan, led by CICC Qide (a subsidiary of CICC Capital), with participation from Zhongke Kechuang, Nanjing Bofu Investment and Tzitzit Asset. This is another step forward in the value of Akang Health in the capital market after the Series A funding round worth tens of millions, led by GF Xinde Investment in 2018.

Akang Health, focusing on the healthcare management and prescription management of chronic diseases. Its wholly-owned subsidiaries include Guangzhou Zhenkang Pharmaceutical, Guangdong Akang Pharmacy, and Guangdong Hemukang Pharmaceutical. The Group's businesses cover clinical promotion of new specialty drugs, B2C, B2B, self-run DTP pharmacies, DTP pharmacy alliance, cloud drug storehouse, cloud prescription, and other innovative services.

Mr. Wang Lijue, Chairman of Akang Health, said that the company will maintain a 50% growth in annual sales in the next three years. By comprehensively optimizing the storage system, supply chain system and technology R&D system, Akang Health will improve the service capacity of the primary medical drug market. 

Akang Health will strengthen the ability of technological innovation and development, to provide an open platform through the SaaS system. In terms of national storage and logistics system construction, Akang Health will build up 6 regional central warehouses (100,000 square meters) and 30 provincial shared cloud warehouses so as to reduce the time of drug distribution for grass-roots patients from 48 hours to 24 hours to 12 hours. Akang Health will also accelerate the construction of the national chronic disease customer service center, constantly improve the pharmaceutical service for patients with chronic diseases in primary hospitals, provide a standardized service system to grass-roots enterprises, and optimize the operation and service capacity of the industry.

On the basis of basic medical care, Akang Health is promoting the upgrading and transformation of the regional pharmaceutical business, and integrating and developing new retailing and new medical services, to serve the regional medical system and build a big health platform at the grass-roots level.

CICC Qide focuses on equity investment in innovative medicine, which is a major breakthrough in CICC's layout in the biomedical industry. With excellent performance, brand reputation and investment management ability, CICC Qide has won the recognition and support of many well-known parent funds, institutional investors, listed companies and clients from CICC. CICC Qide has completed overraising in a short period of time and has become the leading RMB biomedical fund in the past two years.

Zhongke Kechuang was established in August 2009 under the guidance and support of the Guangdong Provincial Party Committee and Guangdong Provincial Government, as the initiator and manager of Zhongke Baiyun Equity Investment Fund.