Despite the absence of any pertinent news, shares of Zhongchao Inc. (NASDAQ: ZCMD) rose 8.49% to $1.15 on Wednesday.
What then has caused ZCMD stock to increase?
As the ZCMD stock increased despite the lack of recent news, we can then highlight recent developments to give a more comprehensive knowledge of the firm. Chongqing Xinjiang Pharmaceutical Co., Ltd. (“Xinjiang Pharmaceutical”), a recent creation of Zhongchao (ZMCD), specializes in the import and export of pharmaceuticals, OME (original equipment manufacturer) production, the operation of medical supplies, and pharmaceutical online services. ZCMD anticipates strengthening and expanding its “Medical-Pharmaceutical-Patient” business model since Xinjiang Pharmaceutical is crucial in providing patients with high-quality pharmaceuticals.
In order to address the rising need for patient-centered healthcare in China, Zhongchao has taken a few measures to transform its business model from “Medical-Pharmaceutical” to “Medical-Pharmaceutical-Patient.” ZCMD launched Xinjiang Pharmaceutical to work toward attaining drug accessibility and affordability for those patients, which was followed by the development of Zhixun Internet Hospital to offer standardized internet healthcare services for patients with cancer or other serious conditions.
How will ZCMD benefit from this?
To facilitate the supply of medications from pharmaceutical factories to retail locations, Xinjiang Pharmaceutical intends to work with Zhixun Online Hospital and other internet hospitals to create a 2B2C (to business and to customer) pharmaceutical procurement platform. With this strategy, Xinjiang Pharmaceutical will be able to provide high-quality, cost-effective medications both domestically and internationally, increasing medicine accessibility and reducing medication costs.
The founding of Xinjiang Pharmaceutical is a crucial step for ZCMD in enhancing its “Medical-Pharmaceutical-Patient” paradigm in the area of cancer and other serious illnesses. In order to improve patient access to and affordability of medications, ZCMD anticipated using its existing networks and resources with pharmaceutical firms to create a pharmaceutical service system across the whole industrial chain.
Another step by ZCMD:
Zhixun Internet Hospital (Liaoning) Co., Ltd., a subsidiary of Zhongchao (ZCMD), was just established to offer patients with cancer or other serious conditions standardized Internet healthcare services. In order to further enhance its patient care services in the areas of cancer and serious illnesses, ZCMD must take this essential next step.