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111, Inc. Establishes Strategic Partnerships with Mentholatum China and Zhongxin Pharmaceuticals
SHANGHAI, China, Oct. 25, 2018 (GLOBE NEWSWIRE) -- 111, Inc. (NASDAQ:YI) ("111" or the "Company"), a leading integrated online and offline healthcare platform, today announced it has established strategic partnerships with Mentholatum (China) Pharmaceuticals Co., Ltd (“Mentholatum China”), the Chinese branch of The Mentholatum Company, a global health and wellness company, and Tianjin Zhongxin Pharmaceuticals Group Co., Ltd. (“Zhongxin Pharmaceuticals”) (SHSE: 600329, SGX:T14), a producer of traditional Chinese medicines, western medicines, and healthcare products primarily in China. 111 will leverage its online distribution channels and data solutions to directly support the digital integration strategies for each brand.
111’s experience in growing into a leading online and offline healthcare platform serves as an ideal example for many pharmaceutical suppliers and manufacturers looking to gain market share in a quickly transforming digitally integrated industry. 111’s integrated online and offline healthcare platform leverages a proven business model to provide suppliers with a strong distribution ecosystem that comprises of an array of comprehensive product and service channels, a large-scale user base, and supply chain management expertise. Since 2010, this has included 111’s online retail pharmacy "1 Drugstore", online medical services through its internet hospital "1 Clinic", and online wholesale pharmacy "1 Drug Mall".
Mentholatum China and Zhongxin Pharmaceuticals will work with 1 Drug Mall to expand online wholesale distribution, increase collaboration with both retail pharmacies and private medical institutions as well as leverage 111’s smart supply chain and data intelligence solutions. Under the terms of the partnership, 111 will act as the primary distributor for Mentholatum China and Zhongxin Pharmaceuticals’ core products in China.
Dr. Gang Yu, Co-Founder and Executive Chairman of 111, stated, “We are proud to work with quality suppliers like Mentholatum China and Zhongxin Pharmaceuticals as we continue to enrich our internet health ecosystem. Through our T2B2C business model we leverage our technology and cloud-based solutions to enable our partners to quickly reach a wide range of customers with quality products and services. We are committed to providing our partners first class channel management, customized marketing, and data services with the best customer experience. We look forward to a long-term partnership with these prestigious brands.”
“Working with 111 will help us to strengthen the digital integration of our retail, branding and promotional capabilities while at the same time opening up our extensive portfolio of health and wellness products to their large and growing user base,” commented Mr. Dongming Liu, Deputy General Manager of Mentholatum China. “Together we will combine our online and offline resources to further the development of 111’s new retail platform for healthcare products.”
“We are excited to work with 111 as our online partner for our pharmaceutical business and look forward to building a successful relationship,” added Mr. Zhenguo Ni, Group Marketing Director of Zhongxin Pharmaceuticals. “We are confident that 111’s platform capabilities, along with their industry expertise, will help us grow our business as we look to leverage the benefits of digital integration.”
About Mentholatum (China) Pharmaceuticals Co., Ltd
Mentholatum (China) Pharmaceuticals Co., Ltd was established in 1990 and is the Chinese branch of The Mentholatum Company (“Mentholatum”) which was founded in 1889 in Wichita, Kansas. Starting out as small purveyor of soaps and toiletries, Mentholatum grew into a global health and wellness company with a reputation for quality and value. In 1988, Rohto Pharmaceutical Company, Ltd. acquired The Mentholatum Company. Rohto Pharmaceutical Company, Ltd was founded in 1899 in Osaka, Japan, as a small family drugstore. The company was a pioneer in over-the-counter medicines and consumer healthcare products. Today, it is now the 2nd largest consumer health company in Japan, establishing its position as a world leader in manufacturing and marketing of pharmaceuticals, cosmetics, skin care and health care products. We are distributing in more than 110 countries globally. Driven by scientific research, technology, and keeping a pulse on consumers’ aspirations, the global Rohto Mentholatum teams are dedicated to providing effective solutions for our consumers’ personal needs through developing high quality, innovative new products.
About Tianjin Zhongxin Pharmaceuticals Group Co. Ltd.
Tianjin Zhongxin Pharmaceutical Group Corporation Limited, (“Zhongxin Pharmaceuticals”, SHSE: 600329, SGX:T14), together with its subsidiaries, produces and sells traditional Chinese medicines, western medicines, and healthcare products primarily in the People’s Republic of China. The company is also involved in the manufacturing and sale of biological products; wholesale and retail sale of medicines, biochemical pharmaceutical products, and daily use products; and operation of hospitals. In addition, it provides logistics, stocks, equipment installation, and medicine processing services. The company sells medicinal products under its own brand and other brands to wholesalers. Tianjin Zhongxin Pharmaceutical Group Corporation Limited has strategic partnership with Ping An Good Doctor. Tianjin Zhongxin Pharmaceutical Group Corporation Limited was founded in 1992 and is headquartered in Tianjin, the People’s Republic of China.
About 111, Inc.
111, Inc. (NASDAQ: YI) (“111” or the “Company”) is a leading integrated online and offline healthcare platform in China. The Company provides hundreds of millions of consumers with better access to pharmaceutical products and medical services directly through its online retail pharmacy and indirectly through its offline pharmacy network. 111 also offers online medical services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation and electronic prescription services. In addition to providing direct services to consumers through its online retail pharmacy, 111 also enables offline pharmacies to better serve their customers. The Company’s online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. The Company’s new retail platform, by integrating the front and back ends of the pharmaceutical supply chain, has formed a smart supply chain, which transforms the flow of pharmaceutical products to pharmacies and modernizes how they serve their customers.
For more information on 111, please visit ir.111.com.cn
For more information, please contact:
Mr. Christian Arnell
Ms. Linda Bergkamp