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TCM Chain "Unicorn" Sample: How does Gushengtang seize the new track?

2022-09-16 07:11:41

On May 17, a PE person who had inspected the model of the Chinese medicine hall told reporters that most of the chain TCM medical institutions make money by selling drugs, and the income from the doctor's outpatient fees is not too much, "Such institutions can make a profit or not much profit at present, most of them are small profits or no profits."

Guangzhou, 6: 00. When the city had just woken up, Lin Jing arrived at the gate of the Guangzhou Haizhu Branch of the Gushengtang Traditional Chinese Medicine Chain Management Group (hereinafter referred to as "Gushengtang").Before her, two young women had lined up at the door, and the three of them exchanged views, and it was no surprise that they were going to see the same doctor today, Dr. Li Liyun, known as "Guanyin for Sending Sons".The number of the day had been grabbed on the Internet two weeks ago, and they had to wait for gushengtang to add 5 numbers on the spot at 8 o'clock.

Private chain of Chinese medicine in the country is not a case, in addition to Gu Sheng Tang, Yunnan Holy Love, Jun He Tang, Zheng An, he shun Tang, and so on, are also well-known. This is regarded as capital risk and opportunity co-exist industry, although the profit model is not clear, but there is no lack of institutional pursuit. Not long ago, Guosen Tang, Jun and Tang received a huge funding sensation.

Famous Doctor Mode


In Guangdong, on the one hand, the government frequently introduces policies to support the inheritance and development of traditional Chinese medicine; On the other hand, the herbal tea shops on the street are a scene in Lingnan, and Cantonese people are accustomed to using Chinese herbal medicine to cook soups for health, and they are also accustomed to seeing Chinese medicine.

This makes Guangzhou's famous doctors of traditional Chinese medicine, “No. Fortunately, as a result of cooperation with the guangzhou-based Gu Sheng Tang, a large number of top-three hospital doctors were invited to the grass-roots clinic.

"Guangdong Provincial Hospital of Traditional Chinese Medicine allows doctors to spend 15% of their time outside," explained Tu Zhiliang, chairman of Gushengtang on April 12, "Gushengtang and the Second Hospital of Traditional Chinese Medicine in Guangdong Province signed a cooperation agreement to jointly build a grass-roots TCM specialist outpatient department."”

In the same way, Gusheng Tang hired five Chinese medical masters and 24 national-level veteran Chinese physicians to build a team of more than 2,700 Chinese medicine experts across the country, with 76 percent of them holding senior professional titles.




At present, the key is how to attract famous doctors from top-three hospitals to make house calls in Chinese medicine clinics.

The art of winning is to allow doctors to make money with their medical skills.Simply calculate an account: a patient comes to Gushengtang to see a doctor, the registration fee is about 150 yuan, and the total cost is about 400 yuan.The doctor's consultation fee in Gushengtang is 80% of the national average.In other words, when seeing a patient, the doctor takes an average of 120 yuan commission.

The ledger of the top three hospitals is like this: a doctor sees a patient and earns about 1-5 yuan.Looking at 30 people a day, the maximum is 150 yuan.This income is a world apart from the consultation fee earned at Gushengtang.









For example, the income of gushengtang doctors is only linked to the consultation fee, and has nothing to do with the drug commission, so the doctor will intimately prescribe "small prescriptions" to patients, and patients can see the disease as long as they spend a small amount of medicine money.The better the reputation among patients, the more money this doctor makes.This is different from the model of linking the income of doctors in top three hospitals with "big prescriptions" and big examinations.


It seems that the chain of Chinese medicine halls that cannot make money has capital to rush to it.Not long ago, Gushengtang and Junhetang had both received large amounts of financing.

Founded in 2011, Junhetang started from Nanjing, and currently has more than 10 chains of traditional Chinese medicine halls in many cities across the country, and in February 2018, it received 100 million yuan of C round financing.

Gushengtang received a larger scale of financing.Gushengtang, which was established in 2010, plans to have at least 60 stores in 2018, and the number of outpatient clinics will reach 8 million.According to this data, the outpatient volume of Gushengtang currently ranks first in the national private chain of traditional Chinese medicine halls.

Gushengtang has obtained four rounds of financing totaling 1.7 billion yuan.The most recent of these was a Series D financing of RMB1.01 billion (510 million equity 500 million bonds) in July 2017, with an investment team including China State-owned Capital Venture Capital Fund, Chinese Life, CMB International, Gimpo Health And other institutions.

When it received angel investment in the early 2010 start-up period, Gushengtang was valued at 15 million yuan; By 2018, its valuation had risen to 6.7 billion, growing into a "unicorn" of a chain of Chinese medicine halls.

"We are looking for our own capital and long-term capital, which are mainly insurance capital, etc., and we are not eager to withdraw money."Tu Zhiliang said.

In Guangdong, in addition to Gushengtang, well-known chains of Chinese medicine halls also include Heshun Hall and Kangmei Chinese Medicine Hall headquartered in Shenzhen.

It is worth noting that the capital is divided into two factions of the chain of Chinese medicine halls, "some people resign and return to their hometowns, and some people rush to the science field at night".

On May 17, Zhang Chi, chairman of Xinding Capital, told reporters, "Chain TCM medical institutions must be a relatively large development trend in the future, especially with the aging of the population, everyone attaches more importance to health care, TCM is mainly prevention, side effects are small, and there is a huge market."”