PomDoctor Ltd.
General Information | |
Business: | (Incorporated in the Cayman Islands)Our mission is to provide effective prevention and treatment solutions to alleviate patients’ sufferings from illnesses. Our vision is to become the most trustworthy medical and healthcare services platform. We are a leading online medical services platform for chronic diseases in China, ranking sixth on China’s Internet hospital market measured by the number of contracted doctors in 2022, according to Frost & Sullivan. As of December 31, 2022 and 2023 and June 30, 2024, the cumulative number of contracted doctors stabilized at over 212,000, while the transacting patients increased from around 638,000 as of December 31, 2022 to 654,000 as of December 31, 2023, and further to 683,000 as of June 30, 2024. As of June 30, 2024, our contracted doctors issued approximately 3.04 million prescriptions. With focuses on chronic disease management and pharmaceutical services, our business model forms a one-stop platform for medical services, which organically connects patients to doctors and pharmaceutical products. Our experience in tackling chronic diseases can be traced back to 2015 when we launched our platform on mobile devices. We strategically chose to focus on this field because chronic diseases last at least one year by definition, and they are hard to cure, prone to complications and require ongoing medical attention. As such, patients with chronic diseases have a great and relatively inelastic demand for frequent and repeat follow-up visits and of drug purchases, which gives a competitive advantage to platforms that are able to maintain long-term, stable doctor-patient relationships. We believe that doctors are the most important resource in the medical services industry. Hence, we have established an open Internet hospital business model that focuses on serving them. In this model, our smart online medical service platform offers a range of services and tools to facilitate online consultation and prescription, which include a WeChat official account that facilitates doctor-patient communications, and Pom Doctor, a doctor-end patient management portal. These online consultations and prescriptions are carried out during one-to-one graphic consultation sessions where the patients send texts and pictures to the doctors for diagnoses, and we plan to gradually launch phone and video consultation. Our platform only provides services for follow-up patients who already have prescriptions from separate, offline services. Our pharmacist verification system ensures that doctors’ prescriptions comply with the relevant rules and regulations. After receiving prescriptions from doctors, our pharmacists will verify the prescriptions according to the Drug Administration Law. If the pharmacists find any prescription to be in any potential violation of the Drug Administration Law, they will return the prescriptions to the doctors, who must then adjust the prescriptions accordingly to ensure compliance. Otherwise, our pharmacists can deny further processing of the prescription. However, given that our platform only issues prescriptions for patient’s follow-up visits and the patients would have already possessed verified prescriptions from offline channels before consulting our platform, the frequency of the aforementioned prescription return is negligible. At the same time, our platform enables patients to conveniently connect with our doctors and obtain one-stop medical services, which include online consultations and online prescriptions anywhere, anytime. Because our patients were mainly sourced by doctors via existing patient-doctor relationships, their mutual trust is also transferred online, which translates into greater user stickiness on both ends and allows for great monetization potential from our treatment and prevention solutions. In 2022 and 2023, we achieved a retention rate for mature doctors of 99.7% and 99.9%, respectively, and maintained a 99.9% retention rate in the six months ended June 30, 2024. In addition, we recorded a 90-day patient repurchase rate, representing the average turnover period of the prescription drug usage, of 65.9%, 63.7% and 65.5% in 2022, 2023 and the six months ended June 30, 2024, respectively. As chronic diseases last more than one year by definition and requires ongoing medical attention, such high 90-day patient repurchase rates encourage the patients to continue using our platform for its ease of use during the long course of their disease management and also motivates doctors to stay on the platform and serve the patients that they have become familiar with in the same period, which benefits our chronic disease management business. Note: Net loss and revenue are for the 12 months that ended June 30, 2024.(Note: PomDoctor Ltd. filed its F-1 on March 14, 2025, for its IPO, without disclosing terms for the deal that has estimated proceeds of $15.0 million. This is an offering of American Depositary Shares (ADS).) |
Industry: | SERVICES-COMPUTER PROCESSING & DATA PREPARATION |
Employees: | 154 |
Founded: | 2010 |
Contact Information | |
Address | Yongxu Industrial Park No.19-23 Hejing Road, Dongsha Street Liwan District, Guangzhou 510000 People’s Republic of China |
Phone Number | +86 020-6231 2277 |
Web Address | https://www.7lk.com/ |
View Prospectus: | PomDoctor Ltd. |
Financial Information | |
Market Cap | |
Revenues | $45.21 mil (last 12 months) |
Net Income | $-4.04 mil (last 12 months) |
IPO Profile | |
Symbol | POM |
Exchange | NASDAQ |
Shares (millions): | 0.0 |
Price range | $0.00 - $0.00 |
Est. $ Volume | $15.0 mil |
Manager / Joint Managers | Revere Securities |
CO-Managers | |
Expected To Trade: | |
Status: | TBA |
Quiet Period Expiration Date: | Available only to Subscribers |
Lock-Up Period Expiration Date: | Available only to Subscribers |
SCOOP Rating | Available only to Subscribers |
Rating Change | Available only to Subscribers |