Release date: 2014-07-11
Investment in the mobile healthcare industry has become a hot spot in the recent VC/PE industry.
On June 24th, the third-party application (APP) of the Women's Health Management Smartphone confirmed that the C-round financing was 35 million US dollars. This round of financing was led by the Hainan Asian Venture Capital Fund (SIG). Jingwei Venture Capital and Xianfeng Huaxing With the investment, the funds have all been received.
Meiyou was launched in April 2013 and cut into the market with the menstrual record function. At the same time, it provides services such as pregnancy, pregnancy, child care and community communication for women. On June 5, Meiyou’s direct competitor APP Daxie took the lead in announcing the completion of the C round of financing, amounting to 30 million US dollars, led by Ceyuan Ventures, Sequoia Capital and Bertelsmann. In April last year, Daxie received a $5 million Series A financing from Bertelsmann Asia Investment Fund and Zhenge Fund, and then Cai Wensheng’s millions of A+ rounds of financing. In September last year, it received the lead investment of Sequoia Capital, Bertelsmann and Zhenge Fund with a $10 million Series B financing.
According to the statistics of Zero2IPO, from 2010 to March 2014, there were 58 investment events in the mobile medical industry, involving 33 enterprises, and the disclosure amount exceeded 100 million US dollars. From 2013 to March 2014, 29 investment events were directed to personal mobile health care. In the first three quarters of this year, among the nine investment events for individuals, there were five mobile medical hardware, accounting for 55.56%. Both entrepreneurs and VC/PE are relatively concentrated in personal-oriented mobile healthcare, and individual users are the target groups favored by entrepreneurs and investment institutions.
For entrepreneurs, the entry barriers for mobile-oriented individuals are low, the industry is generally optimistic and there are no products that dominate the market. The mobile medical entrepreneurial teams are mostly concentrated in this segment. Compared to software, mobile medical hardware can provide users with more accurate data monitoring, and the corresponding software can provide a better user experience.
Ding Kang, senior investment manager of Qingke Venture Capital, believes that true mobile medical care is to achieve effective interaction between patients and doctors, and to intelligently give patients health management advice by collecting patient health data. The current mobile medical care is still focused on how to get through the registration, consultation, treatment and other aspects, which is not really meaningful mobile medical. Even such a transitional goal is a major contribution to solving the problem of difficult medical treatment and registration in today's big cities in China. However, it is difficult to make breakthroughs because it is limited by the obstacles in the domestic medical system and treatment, and cannot be exceeded in the short term. .
Health APP hot
The capital market has always been hot on women's health products. According to the latest data from Analysys, the top three women's health APP coverage is Datun, Meiyou, and Mother.
Daxie’s founder and CEO Chai Ke told Caixin’s reporter that after this round of financing, it will further polish products and tap talents. It will also cooperate with medical websites and hospitals to realize big data-based data by deepening user needs. Precision marketing. At present, the valuation of the C round has reached 1 billion yuan, and it is hoped that it will be listed separately within three years.
Chai Ke said, the next most important thing is to better collect more users' data and tap the deep meaning behind the data. "This investment will make a future exploration of the future model, not the existing one. Expand because there are defects in the existing model."
"On the one hand, we will cooperate with advertisers such as Procter & Gamble and Bayer in depth. We are not limited to providing advertising opportunities to explore and realize the business model. On the other hand, we will strengthen cooperation with expert teams and bring accumulated data to these professionals. Open." Chai can think that the user data collected by the health APP will be used by the doctors of the hospital when the patient seeks medical treatment, depending on the stage of development.
Ding Kang said that at present, mobile medical care is indeed overvalued, especially in the case of mobile Internet hotspots and medical health hotspots. "If it was two years ago, would you consider investing in amnesty? Now the valuation is too high, it is not in line with our fund. Investment strategy. But this does not affect other institutions may continue to invest in amnesty."
Jiang Tao, head of Peking Union Medical Technology Development Corporation, believes that there is a certain advantage in the related brand advertisements of Daxie. The users are relatively concentrated and have the effect of precision marketing. Many apps have big data ideas, and some vendors have big data needs. The key is to look at the path and efficiency of data mining, whether the resulting data is valid, and meet the standard for manufacturers to pay for purchases.
Can it be difficult to solve the problem?
Dr. Yang from Beijing 301 Hospital told Caixin reporter that traditional medical care has several links, registration and treatment. At present, most popular APPs in the market are concentrated in registration and consultation, such as Alipay's registered network; there are doctors in the consultation. Online, spring rain doctors, etc. In addition, there are clove gardens, apricot trees, etc. that do information aggregation.
Dr. Yang said that from the doctor's point of view, the registration of this link can be Internetized and has a very large market demand. The biggest drawback of traditional medical care is the excessive concentration of medical resources. Good doctors are concentrated in large hospitals, and patients are rushing to large hospitals. This situation is almost unchangeable under the current medical system, but how to let patients find the most suitable in time. The doctor is worth trying.
However, the registration can not be hanged all online. Dr. Yang said that it is also necessary to consider that the hospital's patients are mostly elderly people who do not have access to the Internet. There are still many patients with low education from remote areas in large hospitals. "Howl to scream", taking into account their emotional stability, hospital order and social stability issues.
Gong Xiaoming, a well-known Chinese gynaecologist and now the chief physician of the Shanghai First Maternal and Infant Health Hospital, told Caixin that information technology can definitely solve the problem of patients making appointments and registration difficulties. However, the current system has made public hospitals less likely to open registration platforms to Internet companies. . The software information systems of different hospitals are different. The concept of the dean of each hospital is different. The interconnection problem of the software industry itself has to be an interface.
In the consultation section, the data of various APPs can only be supplementary reference opinions, and treatment is unlikely. Dr. Yang said that Chinese medicine is called "Wang Wen asked to cut", Western medicine pays attention to "visual touch", doctors rely on clinical experience to position patients with pain, hands and hands are hidden from the university, the current telemedicine technology, especially sensor equipment Far from reaching the level of consultation, treatment is even more impossible.
One investor also said that he is only optimistic about the non-diagnostic relationship between doctors and patients, such as follow-up after surgery, rather than clinical diagnosis. “Like a good doctor online, it is difficult for consumers to build trust. In addition, there is no prescription right on the Internet. I can’t buy medicine at the pharmacy.†The person said that only patients with gynecological diseases, male diseases, etc. are embarrassed to go to the hospital to see. In the disease, there is still a certain market for APP in the early stage of illness.
Dr. Wang from the Beijing People's Hospital said that only doctors who have just graduated may go to the website to see people. When they are above the deputy chief physician level, the usual outpatient clinics and clinical and scientific research work should be overwhelmed. There is no energy to look at other patients. "The website of the chief doctor who claimed to be on the website of a certain website telephoned 400 yuan for 20 minutes. It was all Internet companies looking for people to crap."
Ding Kang believes that telemedicine is more dependent on hospitals. The future application scenarios are mainly in the telemedicine team collaboration between the third- and fourth-line hospitals and the first-tier cities and large hospitals, such as the obstetrics and gynaecology department of a large hospital in Beijing. The hospital's mothers are undergoing telemedicine treatment, but currently there is no incentive for the large hospital to open the medical team. APP, which is currently popular in the market, has a large user base and user volume, but for traditional investment medical equity funds, it does not belong to the traditional medical scope, more similar to pure Internet projects. In the serious sense of medical care, at present, it can only be done through the hospital system, and the Internet cannot solve the problem.
Jiang Tao said that there are certain obstacles to mobile Internet intervention. He believes that according to the current domestic laws and regulations, the diagnosis of the diagnosis through the Internet, the treatment plan is not allowed, diagnosis and treatment must be completed in the medical institutions. The involvement of the mobile Internet in the medical industry is currently limited to providing advice and advice, and cannot be diagnosed and disposed of.
Jiang Tao pointed out that the current difficult problem of medical treatment in China is related to the traditional Chinese medical service delivery methods and patients' medical habits. Not all diseases need to find the best doctors for diagnosis and treatment in the first time. Therefore, when the mobile Internet is combined with medical care to help patients seek medical advice, it is not a good application to help patients hang on to famous doctors. A good application is to be able to give patients some advice and guidance on the spot, and guide patients to get medical treatment nearby. The application of this medical registration will certainly have huge economic benefits in the short term, but in the long run, it will be eliminated by the market. This road is not going to work because there are so many good doctors and big hospitals. He suggested that the application developers of mobile Internet should pay attention to the specialization of the industry, not to cover too much, but also pay attention to the short-term economic benefits do not represent the long-term development prospects, really help patients find the right doctor, It is efficient to provide reasonable advice.
Meaningful investment hotspot
According to the 2013 China Pharmaceutical Internet Development Report released by the China Pharmaceutical Materials Association, the market size of China Mobile Medical in 2013 reached 2.34 billion yuan, an increase of 25.8% over the previous year. It is estimated that by the end of 2017, the scale of China Mobile's medical market will exceed 10 billion yuan, reaching 12.53 billion yuan.
Jiang Tao believes that the mobile Internet is the most meaningful two directions for medical applications. One is for patients, helping patients to solve the physical distances, weak follow-up, and inconvenience of seeking medical treatment in the process of seeking medical advice. problem. Under the premise of complying with the regulations, think of ways in these areas. The second is to face the needs of doctors, such as providing data analysis and on-site support, providing cutting-edge consultation, treatment tools and tools, case studies, etc. for global development for different professions. In China, this kind of APP needs to pay attention to the fact that there are big differences in the level of doctors. The needs of doctors, secondary hospitals, community hospitals, and small and medium-sized city hospitals in the top three hospitals are not the same. In the United States, there are many such apps and they are well received.
Haida Investment Director Chen Qiao told Caixin reporter that he is very optimistic about the development of online pharmacies. In May this year, the State Food and Drug Administration issued the "Internet Food and Drug Administration Supervision and Management Measures (Draft for Comment)", and the opening of Internet prescription drug sales has greatly promoted the industry.
“In the past, online pharmacies could not sell prescription drugs and could only sell OTC, but there are 900 billion yuan of drugs in the country every year, of which 700 billion yuan are prescription drugs, so the online market for online pharmacies is very big.†Chen Qiao introduced, although in the short term Can not compete with hospitals and offline pharmacies, because offline medical insurance, online medical insurance can not be used, but even the non-medical insurance market is also very large: non-medical insurance self-funded drugs 500 billion yuan per year, offline pharmacies retail The terminal has 240 billion yuan per year, of which 75% is about 180 billion yuan of non-medical insurance drugs at its own expense. The online pharmacies had sales of less than 4 billion yuan last year, and the market in the future is huge.
Chen Qiao said that the online pharmacy industry will undergo a very competitive process of survival of the fittest. "There are more than 200 online pharmacies that have licenses. There will not be so many in China, because there will be no regional restrictions on the Internet, and it may be more concentrated. We expect that there will be more than ten homes, but now So many, there must be a strong shuffle and integration."
Ding Kang believes that online pharmacies actually solve the problem of convenience. With the development of payment, logistics and other aspects, users using mobile phones to purchase OTC drugs will become a possible market trend. However, the prescription drugs must be issued under the conditions allowed by the doctor. In this case, even in Europe and the United States, there is no real solution, and the domestic difficulty is even greater.
Chen Qiao said that considering the return and withdrawal of the fund, there is no investment in this field in the short term, but it is relatively optimistic about mobile medical service technologies and products that will move from hospitals to families and can be combined with the home medical device market. POCT rapid diagnostic products are used as a platform for personal health management in combination with mobile medical services, such as blood sugar, blood pressure, and blood lipid management. These software and hardware combined products can be extended from the rigid needs of hospitals to the needs of family health management. There are not only the concept of mobile medical services, but also the collection and analysis of big data. There will be more tension and imagination in the future.
The prospect of mobile healthcare
For the wearable medical health hardware devices that are very popular nowadays, another investor is not optimistic. “The actual around the friends’ hands are regarded as fashion-like display decorations, and the life cycle of this step-by-step product is too short. ".
He said that he is more optimistic about the over-the-counter medical and health products around the family, commonly known as "headache brain heat", such as the combination of software and hardware for intelligent body temperature monitoring. "The body temperature monitor does not need to be taken often, but people who really need it, such as children at home, have a fever and bring it to him. It is very useful for parents to check the temperature changes of their children at any time by going to work."
The biggest problem with wearable hardware devices is that the measured data is not available to doctors.
The person admits that most of the people investing in mobile medical care are investing in the Internet. Whether the APP can bring traffic and accumulate data, and the APP with traffic and users will be able to be acquired in the future, especially the RMB fund. First, the investment return period of RMB funds relative to US dollar funds is short, and second, APP's profitability is limited, and the possibility of listing separately is zero.
Similar medical apps in the United States do more mergers and acquisitions, but there are only BAT (Baidu, Ali, Tencent) in China, and the exit channels are narrow, and mobile medical care is not necessarily the layout of each giant. I have not seen the explosive power of this industry yet.
An investor who said that the big health sector has more opportunities to embrace the Internet than the professional medical field. Because the data accuracy requirements for health monitoring are relatively low and combined with mobile APP, some landmark conclusions can be given, but this conclusion does not need to be particularly precise.
"If you give hardware to the big bang app, now you can't make much money from a hardware. From the perspective of data collection, the data that the mobile phone can collect is limited, frequency and accuracy are limited, and the hardware is better." He also said High blood pressure, diabetes, etc. do need to be tested on the spot by the hospital, but the physiological cycle time is too long, and now the doctor will let the patient download the app.
Zhang Kangang, chairman of Aikang Guobin, said that Aikang Guobin plays more roles as an operator in the development of mobile medical care. “We open the platform. We don’t buy data, but we can share my information and sell it on my products. Out of service, we divide."
IDG investment manager Yu Zhengkun said that the US FDI has been approved for use in mobile phones for chronic disease management applications such as diabetes, and insurance companies can also apply for insurance. For example, a mobile phone APP application software for diabetes management is included in the scope of reimbursement, and no insurance company in China is reimbursed. From the mature model, the huge difference in insurance between the two countries, China's short-term work is to burn money, the greater the number of people, the more customers who have more, the spring mobile phone share is the first, The money burned every year is also the most. Investors must have patience, not to say that they can make money to withdraw after three years of investment.
Source: Caixin "New Century"
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