Business
China Jo-Jo Drugstores Announces Update of Strategic Transformation Plan
HANGZHOU, China, April 22, 2019 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores," "We" or the "Company"), a leading online and
About this update from Ridgetech, Inc.
[{"type":"text","content":"HANGZHOU, China, April 22, 2019 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) (\"Jo-Jo Drugstores,\" \"We\" or the \"Company\"), a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a healthcare provider in China, today announced an update to its strategic transformation plan previously announced. The Company expects to become a new benchmark for the smart drug diagnosis industry and a prominent brand in the pharmaceutical industry in China.\nDear Shareholders,\nIn recent years, the trends in the retail pharmacy business have included a continuously adjusting regulatory environment, falling drug prices, and compressed profit margins. On the basis of an in-depth analysis of the challenges and opportunities in the development of the industry, the Company has returned to the service essence of the pharmaceutical industry after 16 years of accumulated expertise and innovation, as it integrates scientific and technological innovation to become the new benchmark for the emerging smart drug diagnosis model in China. \nIn 2019, the Company took another leap in the development of its smart drug diagnosis model. The core of the smart drug diagnosis model is a chronic disease management platform and a member management platform. In April, the Jo-Jo Internet Hospital officially began trial operation, including the implementation of video consultations for the Company's customers. Currently, during the trial period, the Company conducts prescription consultations at a rate of over 300 per day and expects to process over 1,000 consultations per day after full implementation. Future features are expected to improve strength in specializations including gynecology, ophthalmology, pediatrics and traditional Chinese medicine. The Company expects to introduce well-known domestic experts to form a video consultation system for chain retail pharmacies. Currently, the Company has provided consultation services to nearly 6 million customers and views this as an opportunity to expand its brand. Furthermore, the Jo-Jo online pharmacy has registered with the Zhejiang Appointment Registration Platform to provide medicines and medical services for patients with health needs on the platform.\nThe Company plans to cooperate with three leading hospitals in Hangzhou, Zhejiang Province...