Hangzhou-based ClouDr Group Ltd (HKG: 9955), a one-stop chronic disease management and smart medical platform, has completed an initial public offering (IPO) on the Hong Kong Stock Exchange, raising HKD 482 million (USD 61.4 million). France-based pharmaceutical giant Sanofi acted as one of its cornerstone investors. Proceeds will be used for business expansion, enhancing medical knowledge and technological capabilities, growing the company’s ecosystem, and operational capital.
Company Background and Business Model
Founded in 2014, ClouDr provides medical supplies and SaaS products to hospitals and pharmacies, digital marketing services to pharmaceutical companies, and online consultations and prescriptions to patients. As of December 31, 2021, the company’s SaaS products had been deployed in 2,369 hospitals, with 2,101 hospitals purchasing its medical devices, consumables, and drugs via distributors. Additionally, 15 pharmaceutical companies had subscribed to its digital marketing services, 683 pharmacies were doing business with the company, 172,000 pharmacies had installed its SaaS solutions, and 23.8 million users had signed up to their services.-Fineline Info & Tech
