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111, Inc.And Shanghai Uniondrug Information Technology work together to drive innovation in commercial insurance payments

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Shanghai, October 15, 2020 / PRNewswire /-September 24, 111, Inc. (NASDAQ: YI) (“111”) and Shanghai Uniondrug Information Technology Co., Ltd (“Shanghai Uniondrug”) have officially signed a strategic partnership. Agreement (“agreement”). The two companies will share resources and leverage their expertise to build multi-tiered partnerships covering different disciplines. They jointly promote innovation and exploration of commercial insurance in oncology drug retailing and diverse healthcare services, providing integrated solutions to pharmaceutical companies including innovative payment solutions, patient management, physician and patient education. Products that provide efficient and convenient access to medications and other healthcare.

Under the agreement, the two companies will take advantage of this to accelerate the development of an integrated ecosystem that connects pharmaceutical and insurers, improving the market environment for pharmaceuticals and pharmacies while reducing drug costs. More importantly, the agreement helps reduce the cost burden of patients’ medicines while at the same time providing patients with the ability to obtain quality medicines and healthcare products from reliable sources in a convenient way. I will.

Dr. YUGang, co-founder and executive chairman of 111, said the government would “limit the proportion of medicines in total hospital costs,” “zero medicine markups,” and “quantity-based procurement.” There was a continuous outflow of prescriptions and medicines from public hospitals to online and offline pharmacies. These policy changes have brought a new era to the online healthcare industry and created significant market opportunities. In the future, the company will continue its patient-centric focus and build China’s largest digitally-enabled online and offline integrated healthcare platform. In addition, 111 will continue to partner with key industry players such as Shanghai Uniondrug to maximize value and fulfill its mission through the healthcare ecosystem of physicians, pharmacies, hospitals, pharmaceutical companies, pharmaceutical companies and insurance companies. Empower the participants of. Digitally connect patients with medical and healthcare services.

ZHENG Xiaozhen, Founder and Chairman of Shanghai Uniondrug Information Technology, said Shanghai Uniondrug has sought and promoted commercial insurance innovation in the pharmaceutical and health care sector as a professional commercial insurer in China’s healthcare sector. .. In the future, Shanghai Uniondrug will continue to partner with more companies such as 111 to drive and drive innovation in the pharmaceutical retail chain and healthcare industry.

About Shanghai Union Drug Information Technology

Shanghai Uniondrug Information Technology is a leading technology platform connecting commercial insurance to China’s healthcare and other healthcare scenarios, striving to accelerate the launch of service-style billing payments in the retail pharmacy and healthcare sector. I will. Shanghai Uniondrug Information Technology has begun working with more than 100 leading domestic insurance companies such as PICC, China Life, CPIC, China Insurance, China Taiping and Huaxia Insurance. In 2019, the scale of commercial insurance payments on the Shanghai Union Drug Information Technology Platform reached RMB 2 billion. The platform is connected to 850 chain drugstores and covers approximately 100,000 pharmacies in 29 states nationwide.

111, Inc. Has previously worked closely with insurers such as TK.CN, MSH China and Manulife-Sinochem on the purchase of medicines by patients and customized insurance.

About 111, Inc.

111, Inc. (NASDAQ: YI) (“111” or “Company”) is the leading digital healthcare platform dedicated to digitally connecting patients with healthcare products and services in China. The company provides consumers with better access to medicines and healthcare services, directly through online retail pharmacy 1 drugstores and indirectly through an offline virtual pharmacy network. The company also provides online medical services through 1 Clinic, an internet hospital, providing consumers with cost-effective and convenient online consultation, electronic prescription services, and patient management services. In addition, the company’s online wholesale pharmacy, 1 Drug Mall, acts as a one-stop shop for pharmacies to procure a wide range of medicines. The 111 has the largest virtual pharmacy network in China, enabling offline pharmacies to better serve their customers with cloud-based services. 111 also provides its strategic partners with an omni-channel pharmaceutical commercialization platform that includes services such as digital marketing, patient education, data analysis and price monitoring.

For more information on 111, please visit http://ir.111.com.cn/.

For more information, please contact:

111, Inc. Investor Relations Email: [email protected]

111, Inc. Media Relations Email: [email protected] Phone number: + 86-021-2053 6666 (China)

GCM Strategic Communication IR Counsel Email: [email protected]

SOURCE 111, Inc.

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http://ir.111.com.cn/

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