Company News

Strategic Cooperation Agreement Release of Sinopharm, Tencent WeSure, Shanghai MedTree Health Technology

30 Sep 2020

(30 September 2020—Hong Kong)Sinopharm Group Co., Ltd. (‘Sinopharm’or the ‘Company’, stock code: 1099.HK), the largest wholesaler and retailer of pharmaceuticals and healthcare products in the PRC and a leading supplier of supply chain services, is pleased to announce that in the afternoon on 28 September 2020, three parties, namely Sinopharm Group Co., Ltd., Tencent WeSure and Shanghai MedTree Health Technology Co., Ltd. signed a strategic cooperation agreement to carry out in-depth cooperation and mutual innovation in the integration of city-level community business into inclusive commercial insurance projects, pharmacy benefit projects, commercial insurance projects and patient service projects. In the future, the three parties will work together to promote inclusive commercial insurance to cities across the country by establishing a complete health service chain of drug purchase, drug distribution, drug discount, insurance business favorable to the general public and patient health management services in order to create a new health ecosphere for people and promote business development in the field of health together.

At the strategic cooperation ceremony,Sinopharm thought that this tripartite strategic cooperation with Tencent Wesure and MedTree Health will lay the foundation for the in-depth exploration of the ‘insurance + medicine + health management’ model in the future. The three parties will actively seize opportunities of the policy, focusing on in-depth cooperation in drug insurance, patient services and other areas, achieving resource sharing and complementary advantages, and eventually promoting the deep integration of commercial insurance and pharmaceutical retail industry. 

Tencent’s WeSure thought that the strategic cooperation among Wesure, Sinopharm and MedTree will further promote the research progress in the integrated innovation model, and provide more efficient, high quality and whole procedure healthcare service for customers. Leveraging on its own resources integration and insurance technological capability, Wesure join hands with excellent partners, such as Sinopharm and MedTree, to fully utilize its commercial insurance payment function to provide a comprehensive healthcare service chain include insurance reimbursement, medical service and health management for customers and provide new resolutions for integration and innovation of commercial insurance and the big health industry.

Medtree Health thought that with the increasing medical expenses in China, commercial insurance has become a major supplement to basic medical insurance and formed more positive interactions with its suppliers at multiple levels to ensure improvement in the insurance value. The cooperation among MedTree, Sinopharm and Tencent WeSure with further promote the exploration in the ‘insurance + medicine + health management’model. MedTree will continue to core on the clinical pathway and pharmacoeconomics, join hands with Sinopharm and Wesure to design an economical medicine catalog for the public, develop a scientific expense monotoring system for the payers and facilitate future expansion of value healthcare concepts in China.

Photo Caption: leaders of the three parties signing the cooperation agreement (Shang Jiaoyan, deputy president of Tencent WeSure (left of the first row), Zhao Min, deputy general manager of the global procurement and supply chain service center of Sinopharm (middle of the first row), Song Yira, president of MedTree Health Technology (right of the first row)