On March 22, Ho Ophthalmology and Arrail Group were listed on the Growth Enterprise Market of the Shenzhen Stock Exchange and the Hong Kong Stock Exchange respectively. Ho's Ophthalmology rose by 38.5% on the first day of listing, and the successful listing of Rare Group made it the first stock in China's dental chain, with a market value of more than HK$8 billion.
People's Daily health client combing found that in the past two years, the domestic "golden eye and silver teeth" field has more than ten listed and applied for listing companies, the two major areas of enterprise development is good, then the current development trend of the two major domestic areas of enterprise development what characteristics, the future trend of the future trend?
The regional expansion of ophthalmic enterprises has accelerated, and dental enterprises are relatively conservative
From the perspective of ophthalmic enterprises, in addition to the nationwide coverage of Aier Ophthalmology, Chaoju Ophthalmology, He's Ophthalmology, and Huaxia Ophthalmology and Puri Ophthalmology, which are about to be listed, have significant regional characteristics.
In the next step, He's Ophthalmology will focus on the Beijing-Tianjin-Hebei region centered on Beijing, the Yangtze River Delta region centered on Shanghai, the Greater Bay Area centered on Shenzhen, and the western region centered on Chengdu and Chongqing. In addition, Chaoju Ophthalmology will focus on expanding in northern Zhejiang, eastern Zhejiang and northern Jiangsu. At the same time, Sima Ophthalmology, which has expanded from Hong Kong to the Mainland, will set up or acquire eye hospitals, eye centres and clinics in key locations in east China, southwest China, central China and cities in the Guangdong-Hong Kong-Macao Greater Bay Area. The multinational brand Deshijia will continue to implement its expansion plan to open multiple clinics in China's core metropolises and one or two clinics in second-tier cities. It is not difficult to see from the regional expansion paths of each company that the Beijing-Tianjin-Hebei region, the Yangtze River Delta region, the Chengdu-Chongqing region, and the Guangdong-Hong Kong-Macao Greater Bay Area have become hot expansion areas, and the provincial capital city is the focus of the layout.
Compared with ophthalmology, the overall expansion rhythm of the oral chain is relatively conservative, and most of them are based on the strategy of consolidating regional advantages. "At present, the entrepreneurial enterprises with doctors as the main body are showing a steady upward trend, for such enterprises, improving technology to improve service levels should be the focus of the moment, and the chain expansion model is not applicable." Huang Mao, founder of Gade Dental, pointed out in an interview with the Health Client of the People's Daily that "there are currently three major medical institution models in the field of stomatology, namely public hospitals, doctor-led oral medical institutions and investment-led medical institutions, of which entrepreneurial institutions led by professional doctors can be described as the classic model of specialized hospitals." In addition, he pointed out that such entrepreneurial institutions led by professional doctors do not seek to become bigger, but only hope to bring better treatment and services to more patients with practical needs.
Consultation room of a dental medical institution. Courtesy of netizens
Diagnosis and treatment projects have gradually extended to a high level of technology, and digitalization has become the hard power of medical service institutions
According to the people's daily health client combing through the public information of more than a dozen companies that have been listed and submitted listing applications, it is found that refractive surgery, cataract surgery and optometry services have supported the main revenue of the ophthalmology chain. In terms of improving the business structure, ophthalmic diagnosis and treatment institutions are currently mainly carried out along two paths: one is to expand the optometry service network, and the other is to extend to the diagnosis and treatment projects of difficult ophthalmic diseases and high-tech levels.
In terms of oral diagnosis and treatment, "the business model of a mature oral institution should adhere to the principle of two eights, that is, 20% of the business volume is used to solve the problem of diseases such as patients' toothache, and 80% of the business volume is oriented to high-end needs, such as teeth whitening, orthodontics and dental implants." Huang Xi pointed out, "But the current business distribution of dental medical institutions in the mainland is basically five or five, half of which are used to solve disease problems, on the one hand, people's health concepts have not been completely changed, and the overall attention to the oral aspect is still in a low demand stage, with the improvement of national awareness, this is also the space for the future development of oral services." ”
In addition, Huang Xi also pointed out that digital technology accounts for a relatively large proportion of daily services, he believes that the use of technology to solve problems, can improve the efficiency of doctors, reduce patient pain and improve the comfort of treatment, but also more conducive to the quality standardization of oral consumables. Indeed, digitalization is becoming an essential capability for healthcare providers, whether it is ophthalmology or dental, many companies have revealed the planning of digital projects in their prospectuses or financial reports.
The situation of small and scattered markets may improve, and the lack of talent is the biggest challenge
From the perspective of investment-driven enterprises, each company will have more sufficient funds after listing, have stronger business expansion capabilities, and more large and medium-sized institutions will appear. Correspondingly, since acquisitions are one of the main ways for listed companies to expand their business scale, the situation of small and scattered markets may improve after more independent or small chain institutions are included in large institutions. In the field of ophthalmology, the development of domestic orthokeratology mirrors has accelerated; in the field of stomatology, the participation of domestic invisible orthodontic appliances has increased. These will not only make the service field have more supplier choices, but also enable the domestic price advantage to expand the coverage of consumer groups on the service side and further enhance market penetration. Second, new technologies and new models bring new imagination space. At present, the digital therapy in full swing also covers ophthalmology, a variety of ophthalmic digital therapy products have landed, eye hospitals and optometry centers are the main landing scenarios of these products, which can form incremental services. In terms of dental, the coverage and influence of the DSO model in China have expanded, helping the industry to achieve digital transformation and standardized operation.
In addition, President Huang Mao stressed: "The overall population of dentist in the mainland is insufficient, and there are also differences in the number of doctors in different regions. And according to the "2021 China Health Statistical Yearbook", the average academic qualification of mainland stomatologists has not reached the undergraduate level, which is far lower than the international level. In the future oral medical industry, talent is the key factor, which is also the biggest challenge in the future. At the same time, he also pointed out that "in the future, the number of entrepreneurial enterprises led by professional doctors in the oral industry may continue to grow, and from the national policy level, the state will also be more willing to encourage professional people to do professional business models to promote the benign development of the industry." (Liu Yingqi)
