Ping An Health (01833) reached a strategic cooperation with Medtronic to continuously improve the quality of medical health services.

On November 6, at the 7th China International Import Expo, Ping An Health Medical Technology Co., Ltd. (stock abbreviation "PA GOODDOCTOR", company abbreviation "Ping An Health") reached a strategic cooperation agreement with Medtronic (Shanghai) Management Co., Ltd. (hereinafter referred to as "Medtronic"). The two parties will join forces to fully leverage their respective professional strengths, and engage in deep cooperation in the areas of heart health, chronic disease therapy, medical clinical training, etc., to promote the continuous improvement of medical health services quality. As lifestyle changes and aging intensify, the issue of abnormal blood lipids becomes more prominent. Representatives from Ping An Health, clinical experts, health checkup fields, and business representatives discussed how to provide advice on long-term management solutions for ASCVD patients using a "warm-blooded lipid report" by optimizing the lipid test report. A representative from Ping An Health stated that the strategic cooperation with Medtronic is a strong alliance, and Ping An Health will provide patients with a full-process service through Ping An Family Doctor, including "speedy diagnosis for minor illnesses, standardized management for chronic diseases, and precise transfer for major illnesses". By continuously improving service networks, leading technological capabilities, and integrating Medtronic's diverse professional therapy solutions and clinical medical experience, Ping An Health will engage in deep collaboration in process optimization, user experience enhancement, disease therapy innovation, and the popularization of medical health. Looking ahead, Ping An Health looks forward to closely collaborating with public hospitals, health checkup institutions, and pharmaceutical companies to leverage their respective strengths in disease education, health screening, and management, especially in optimizing measures such as blood lipid reports to improve public awareness, treatment rates, and control rates of blood lipid abnormalities, ultimately reducing the incidence of cardiovascular diseases. As a leading provider of medical health and elderly care services in China, Ping An Health's family doctor membership service brand "Ping An Family Doctor" has more than 14 million equity users. In recent years, Ping An Health has closely integrated into Ping An Group's "comprehensive finance + medical care and elderly care" strategy, working in deep synergy with the group's comprehensive financial businesses to continually build models for managed medical care. Ping An Health's mid-term performance report for 2024 shows that in the first half of this year, Ping An Health achieved a revenue of 2.093 billion yuan; the net profit attributable to shareholders was 56.648 million yuan, turning a loss into a profit year-on-year. In the first half of the year, revenue and user numbers on the F side doubled, with approximately 14.8 million paying users, representing a year-on-year increase of about 7%, and revenue of 1.12 billion yuan, a year-on-year increase of 3.4%. On the B side, the company continued to enhance the construction of the enterprise health management product system under "Easy Enterprise Health" with "Health Management+" and "Health Checkup+", achieving revenue of 713 million yuan, a year-on-year increase of 58.8%. In addition, in recent years, Ping An Health has further developed an integrated elderly care manager that includes intelligent, life, and medical managers. Currently, home elderly care services cover 64 cities nationwide, with an addition of 10 cities compared to the end of last year. The newly added "elderly care services segment" in the company's first-half financial report achieved business revenue of 47 million yuan, a significant increase of 204.8% year-on-year; the segment's gross margin was 16.9%, a rise of 13.6 percentage points year-on-year, indicating initial signs of growth momentum. CITIC Securities pointed out that Ping An Health's B-end business revenue continued to grow significantly by 58.8%, indicating significant market opportunities in the enterprise health management market. China Securities Co., Ltd. noted that since the implementation of the strategic transformation 2.0, Ping An Health has continued to advance business development in the F-end and B-end strategic sectors, with the business structure adjustment expected to be mostly complete by 2023. With the ongoing empowerment of the company's F-end business by Ping An Group, as well as rapid growth in the B-end business through group channels and self-expansion channels, combined with the efficiency improvement and cost optimization brought by information technology, the company is optimistic about its sustained growth as a comprehensive professional medical care and elderly health management service provider.