Briefing: Tencent-backed health care giant DXY expands to cosmetic medicine

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丁香诊所正式试水轻医美项目 提供光子嫩肤等服务 – Tencent Tech

What happened: DX Clinics, the chain of offline clinics operated by Chinese online medical giant, is planning to expand into beauty offerings with the launch of “light” cosmetic medicine services, which refers to non-invasive aesthetic procedures. The clinic will mainly concentrate on skin care solutions including facial skin assessments, whitening and rejuvenation solutions, and acne treatment services with prices ranging from RMB 500 (around $74) )to RMB 4,980, according to Chinese media. The company is licensed to for cosmetic medicine services for its outlet in Hangzhou, the capital of China’s eastern Zhejiang province.

Why it’s important: Founded in July 2000, started as an online social networking service for China’s physicians and medical professionals. The Tencent-backed medical platform grew rapidly along with the rise of online healthcare in China, operating a series of businesses such as a SaaS management system for medical institutions. The expansion points to DXY’s efforts to capture growth from the booming cosmetic medicine segment, which is expected to be worth RMB 360 billion by 2023, according to figures from research firm Frost & Sullivan. Chinese cosmetic surgery services platform So-Young went public on Nasdaq on May 2 seeking to fund improvements to its offerings for the burgeoning industry.