<article><a href="https://www.dealstreetasia.com/?s=111%20Inc">111 Inc</a>, a Shanghai-headquartered online drugstore and healthcare platform, has filed for an initial public offering on the New York Stock Exchange, seeking to raise $200 million, according to the company&#8217;s US SEC filing.</article>

<a href="https://www.dealstreetasia.com/?s=111%20Inc">111 Inc</a>, a Shanghai-headquartered online drugstore and healthcare platform, has filed for an initial public offering on the New York Stock Exchange, seeking to raise $200 million, according to the company&#8217;s US SEC filing.
Formerly named <a href="https://www.dealstreetasia.com/?s=New%20Peak Group">New Peak Group</a>, 111 Inc said it will list on the NYSE under the symbol YI, with <a href="https://www.dealstreetasia.com/?s=JP%20Morgan">J.P. Morgan</a>, <a href="https://www.dealstreetasia.com/?s=Citi">Citi</a>, and <a href="https://www.dealstreetasia.com/?s=CICC">CICC</a> as the joint bookrunners of the deal.
The pricing terms for the listing were not disclosed in the company’s latest filing.
Founded in 2010, 111 Inc launched 1 Drugstore, one of the first online retail pharmacies in China. A Frost &amp; Sullivan report cited by 111 Inc in its filing said 1 Drugstore is the largest direct selling online pharmacy in China since 2016.
The company’s other main business lines include 1 Clinic, a digital-first hospital, and 1 Drug Mall, an online B2B pharmacy platform.
111 Inc said it had a network of over 2,000 medical professionals as of June 30, 2018, including more than 80 employees that provide online consultation and e-prescription services.
“By connecting medical and pharmaceutical services, we create a closed-loop platform that brings tremendous convenience and cost savings to our consumers,” the company said.
In the first half of this year, 111 Inc’s revenue was Rmb731 million ($106 million), according to the filing. It currently derives revenues primarily from selling and distributing pharmaceutical and other health and wellness products.
The company integrates e-commerce, brick-and-mortar retail, and logistics with data through the value chain “to improve the efficiency of selling and buying as well as customer experience”.
“We also generate revenues from service modules such as marketplace vendor commissions; brand promotion, data and other marketing services for pharmaceutical companies and others,” the company added.
111 Inc&#8217;s filing in the US comes at a time when China&#8217;s pharmaceutical players are quickly moving online to further corner a larger share of the market.
According to the China Food and Drug Administration, a total of 659 online pharmacy permits were issued last year, up from a mere 10 in 2008.
A report released by IQVIA, a healthcare information firm, said China was the world&#8217;s second-largest national pharmaceutical market last year, with a market value of $122.6 billion.
The country’s pharmaceutical market is further tipped to reach $145-175 billion by 2022.
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111 Inc's filing in the US comes at a time when China's pharmaceutical players are quickly moving online to further corner a larger share of the market.

China: Online drugstore 111 Inc files for $200m IPO in the US

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China: Online drugstore 111 Inc files for $200m IPO in the US

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