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Online financer to work with dental clinic group

By Chen Meiling | chinadaily.com.cn | Updated: 2017-03-23 15:59

China's online financing service platform 9F Bank Group Co Ltd announced on Thursday it will begin a medical installment project with Enjoy Dental Clinic Group, a 10-year private medical enterprise in China.

Clients with the 9F Onecard, the company's digital credit account, can get a discount when paying for dental treatments or dental care at Enjoy dental clinics. Applications for installment payments are also available after scanning the code at the clinics, said Sun Lei, founder and CEO of 9F.

Customers' credit level would be evaluated through a self-developed risk control system, he said.

"The examination, approval, and post-lending management of credit went into operation through the connection of online and offline data," Sun said.

In 2015, the State Council released the policy to promote social assets to participants in the establishment and management of hospitals with a looser approval process and broader channels for financing.

Private specialized hospitals have reaped financing of up to $250 million from venture capital institutions and private equity institutions from early 2013 to July 2014, according to a research report released by Deloitte Touche Tohmatsu in 2015.

Enjoy Dental Clinic, as one of the first private medical institutions in China in a partnership business mode, has opened eight dental hospitals and about 70 dental clinics in over 10 Chinese cities, with more than 2,000 doctors and managers.

Sun Yan, president of Enjoy Dental, said he expected to explore the emerging medical installment market, which could be valued at 100 billion yuan ($14.52 billion) with the 9F Group.

9F, founded in 2006, focuses on consumer installments, mobile overseas security and credit evaluation through big data. Now it has about 36 million users. Prior to Enjoy Dental, it also launched cooperation with internet companies in tourism, real estate and IT industries.

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