The Meeting for promoting and introducing the Fund for Replacing Old Growth Drivers with New Ones in Qingdao and the Venture Capital Investment Summit Forum were held in the Jinjialing Financial District of Qingdao, Shandong Province on April 20, 2018. Meng Fanli, Mayor of Qingdao and deputy secretary of the Municipal Committee of the Communist Party of China attended the event and pointed out that a RMB 300 billion fund has been set up to channel financing and social capital into key projects and fields for the replacement of old driving forces with new ones. It is part of a major project to accelerate the replacement of old driving forces with new ones in Qingdao, he said.

During the meeting, Chairman of the Baheal Pharmaceutical Group, Fu Gang, on behalf of Baheal's Zhongxin Fund and the other nine invited investing fund management institutions, signed an industry fund investment agreement worthing RMB 62 billion with the Qingdao Finance Office. Baheal's Zhongxin Fund will be used to advance the implementation of some key projects in biomedicine, medical devices, medical artificial intelligence, comprehensive health and other sectors, giving a boost to the quality development of Qingdao by taking a lead in the replacement of old driving forces with new ones.

Baheal's Zhongxin Fund and Another Nine Fund Management Institutions Sign an Agreement with Qingdao Finance Office

Baheal is committed to Innovative Incubation in the comprehensive health sector.

Baheal's Zhongxin Fund is positioned as an incubator of innovative enterprises in the health industry, focusing on building professional, market-oriented and regulated open fund management platforms and devoted to market-based investment management in the pharmaceutical and comprehensive health sectors. Jointly launched by a number of industry veterans from around the country, the Fund is also an H50 member.

Relying on Baheal Pharmaceutical Group's operation and development over the years and leveraging its own experience, Zhongxin Fund provides support in foreign and domestic industry resources, capital, brand, marketing and management, among others. It allows the invested companies to develop their core competitiveness and establish a major decision-making mechanism, enabling them to grow in cooperation with various industries of the Group.

Replacement of Old Driving Forces with New Ones in Action, Baheal Model as “Phenomenal”

Amid the tide of replacing old driving forces with new ones, the Implementation Plan for Major Projects to Replace Old Driving Forces with New Ones in Shandong Province had made it clear that promotion of “new industries, new technologies, new operation types and new models” is imperative for enterprises to take a lead in this campaign. Baheal is widely acclaimed as "an innovative enterprise which knows IT best in the medical industry and understands the medical industry best in the IT industry in China."

Baheal is transforming itself from a traditional drug distribution enterprise into a technology-driven innovative platform integrating health industry resources. Setting to provide solutions covering upstream and downstream along the entire industry chain, it has grown into a modern comprehensive service company covering the whole industry chain, with information at its core. The Baheal Model, which has taken a lead in the intelligent medical development, is a demonstration of the new growth driver taking place of the old ones.

The competition in the intelligent medical sector is still fierce for the time being, and Baheal has chosen to team up with the powerful ones by cooperating with IBM, Oracle, Philips and other world-leading players, gearing up to take the top spots in the intelligent medical field by using the world's top technologies and products that can be directly applied clinically.

In the meantime, Baheal believes that intelligent medical should consist of smart hospital, intelligent doctor and smart pharmacy, so it has put forward the “new medical information solution”, allowing Baheal's Intelligent Technology to build smart hospitals and train intelligent doctors through software SaaS, out-of-hospital HIS and intelligentized decision-making.

Different from ordinary medical software enterprises, the hospital information solutions provided by Baheal are based on cloud-structure technologies which can achieve data sharing among different medical institutions and thereby enhance hospital efficiency and improve service level. Responding to the policy of “separation between hospital and pharmacy”, Baheal has developed on its own the YFZ -  a prescription information sharing platform, in a bid to establish a regulated and reasonable “enterprise-hospital-patient-pharmacy-insurance” connection and service platform. Baheal also developed the BSmartD platform, integrating world-leading AI products which are ready for application. The application of AI in the medical field is bound to trigger profound changes in precision treatment, doctoring efficiency and even the entire medical and health industry.

To use science and technology as the driving force is the only way for an industry to mature. As progresses are made in the projects replacing old driving forces with new ones and while the development of IT technologies keeps issuing “dividends”, China's medical and health industry is sure to evolve into a level never seen in history.