The Shanghai-based company is currently one of many firms battling it out for market share to transform a billion-dollar health care industry.
When Yu Gang co-founded China’s first online grocery start-up Yihaodian in 2008, he had little idea that his initial desire to provide on-demand groceries in China would eventually lead to him helping millions of patients across the country pick up pharmacy prescriptions without having to wait hours at under-staffed hospitals.
“Medicine is just like any other fast-moving consumer good, there is inelastic demand,” Yu said. “We saw that there was an opportunity to help consumers get medication in a more convenient way so we decided (that Yihaodian should) branch out into an online retail pharmacy business.”
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