Remote Horizon (远程视界), a Chinese medical equipment and service unicorn, has plunged into a debt crisis, local media reports (in Chinese). Instead of paying back what it owes, the management team has reportedly fled, leaving cooperation partners, including around 1,000 public hospitals around the country, in shock.

According to the report, Remote Horizon’s headquarters in Beijing, which used to hold 5,000 employees and monitor 63 branches across China, now has just two receptionists.

The company created an “Internet + Medical Care” (互联网+医疗) O2O business model, which was said to allow the optimization of medical resources. Under the framework of such a model, Remote Horizon, hospitals, and financing companies signed three-party contracts. The financing companies, as capital providers, would transfer money to Remote Horizon’s accounts, and authorize Remote Horizon to purchase equipment and distribute it to partner hospitals.

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Runhua Zhao

Runhua Zhao is a technology reporter based in Beijing. Connect with her via email: runhuazhao@technode.com