In recent years, the state has frequently issued policies to encourage the society to run hospitals, providing policy dividends for the development of clinics. Moreover, with the upgrading of consumption, residents have also raised their requirements for dental, traditional Chinese medicine, maternity and children and other fields, which has also led to an increasing demand for mid-to-high-end services in the clinic field.
The development of private clinics has also taken the express train of medical reform. In the process of huge national investment, they have enjoyed the dividends of the new medical reform policy. Some private clinics developed at critical time points, relying on market demand and favorable policies, have grown rapidly and achieved listing through the capital market.
According to the website of the Hong Kong Stock Exchange, on the evening of November 15, Gushengtang Holdings Co., Ltd. passed the listing hearing on the Hong Kong Stock Exchange.
Gushengtang was established in 2010. It is a company focusing on basic medical care, combining new traditional Chinese medicine with modern medical methods, and creating a technical empowerment for customers that integrates offline business and online layout, covering the entire life cycle and full-scenario health management. Can "OMO" new Chinese medicine platform.
As of May 31, 2021, the company owns and operates 41 medical institutions, covering 11 cities in China, covering South China, North China and East China. All medical institutions of the company are private for-profit medical institutions operating under the brand name "Gushengtang". To date, the company also operates several online channels, including official websites, mobile applications, WeChat public accounts and mini programs operating under the names "Gushengtang" and "Bailu".
Gushengtang has made a lot of gains in capital utilization, which is eye-catching. According to the company’s information, so far Gushengtang has received 4 rounds of financing, namely the A round of financing on June 1, 2014, the B round of financing on April 30, 2015, the C round of financing in 2016, and the 8th round of financing in 2017. D round of financing on March 2, of which the most recent D round financing investment institutions are State-owned Capital, China Life, and Jinpu Medical, with a financing amount of 510 million yuan.
Since its establishment in 2010, it has been adhering to the core values of "medicine with conscience, medicine with peace of mind" and is committed to providing customers with better services. Inherit the essence of traditional Chinese medicine, continue to develop new treatments combining traditional Chinese medicine and Western medicine, explore new business scenarios, and use technology to standardize and digitize operations.
In terms of revenue, Gushengtang has achieved substantial growth in the past three years. According to the prospectus, as of December 31, 2018, 2019 and 2020, the revenue was approximately RMB 726 million, RMB 896 million and RMB 925 million, with a compound annual growth rate of nearly 13%.
As of December 31, 2020, the company's medical service network had more than 16,000 practicing physicians, more than 1.7 times that of China's second largest new TCM healthcare provider. Including 6,667 chief physicians and associate chief physicians, 4,573 attending physicians and 5,059 resident physicians.
In recent years, under the active guidance of national policies and the catalysis of the new crown epidemic, my country's TCM health industry has expanded significantly. According to Frost & Sullivan's analysis, the market size of my country's traditional Chinese medicine health industry has a compound annual growth rate of 11% from 2019 to 2030, and the market size will officially break through the trillion mark in 2021. It is expected that in 2030, the market will The scale will reach about 3 trillion yuan.
Opportunities always coexist with challenges. Although the overall market size continues to expand, there are still problems to be solved that are hindering the rapid development of the industry.
The audience of the TCM industry is not comprehensive, and some customers may not be optimistic about TCM healthcare solutions and products due to many external factors.
The entry of enterprises with many backgrounds has made the market competition more intense, especially the competition for doctor resources. The number of doctors is seriously insufficient, and most of the high-quality resources are concentrated in tertiary hospitals. The clinics' customer acquisition channels, standardization and profit models are not yet mature. . As an enterprise with elements of traditional Chinese medicine, can Gushengtang use its unique OMO model to launch the "first shot" of listing Chinese medicine clinics in Hong Kong? IPO catchers will keep watching.
Sentence|IPO Catcher