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Shanghai · ChinaInteractive investment brief · August 2026

Cross-border care, without borders.

World-class treatment.
One trusted journey.

A coordinated medical travel platform connecting international patients to Shanghai’s advanced care, holistic wellness and end-to-end travel support.

Read the thesis ↓Try the app prototype ↗

9:41● ● ●

Good morning, Olivia

How can we help you
feel better?

⌕ Search treatment or doctor

＋Find a doctor

◎Second opinion

✦Visa & travel

◇Pricing

CONCEPT PREVIEW · PUBLIC PROFILESExplore with evidence,
not star ratings.3 profiles ready ↗

●○○○○

Built around consent, clinical governance and PIPL-aware data flows.

01Remote second opinion

02Clinical coordination

03Visa, travel & billing

04TCM wellness journeys

NEW DECISION PAGE · REAL ASSET + OVERSEAS ACQUISITIONA real recovery address. A two-corridor launch plan.

Indonesia firstKazakhstan parallel90-day base · ¥760K

Open the decision room ↗

Executive brief

THE THESIS IN 90 SECONDS

Build the trusted operating system for international care in Shanghai.

CareJourney is designed to remove the non-clinical friction that prevents strong medicine from becoming a dependable cross-border product. It does not replace hospitals or doctors. It makes qualified demand, clinical handoffs, patient logistics, payments and follow-up work as one governed journey.

See how the model works →

01 / Problem

Clinical excellence is hard to access from abroad.

Patients and referrers face fragmented discovery, unclear eligibility, language gaps, uncertain entry routes and disconnected follow-up.

02 / Solution

A governed coordination layer—not a hospital marketplace.

CareJourney qualifies demand, captures records and consent, routes cases to licensed partners, and keeps the entire non-clinical journey visible.

03 / Beachhead

Start with three record-led specialty pathways.

Oncology, complex orthopaedics and paediatrics combine high trust needs, meaningful coordination value and strong referral behaviour.

04 / Distribution

Referral corridors before mass consumer acquisition.

Physician networks, insurers, employers and overseas Chinese communities create qualified demand with lower education and trust costs.

05 / Capital logic

Fund proof of repeatability, not uncontrolled breadth.

The seed plan finances partner integration, a controlled case engine, product security and corridor validation over 18 months.

PUBLIC SIGNAL73,200

foreign patients served by Shanghai public hospitals in 2025

LAUNCH NETWORK2 + 1

two anchor hospitals plus one internet-hospital pathway

CONTROLLED ALPHA50

supervised cases before corridor expansion

SEED PLAN$4.2M

18 months to prove safety, repeatability and economics

DECISION LENSPublic market and policy facts are sourced. Partner economics, launch volumes and the financial case remain management hypotheses until written agreements and live corridor evidence exist.

The opportunity

Shanghai has the care.
Patients need the bridge.

The opportunity is not another hospital directory. It is the trusted operating layer between overseas demand and a fragmented, regulated delivery network.

●SOURCED BASE FORECAST

GLOBAL MEDICAL TOURISM

$174.1B

2035 estimate · 8.4% CAGR in the cited base forecast. Market definitions vary materially, so the operating plan does not rely on an unsupported upper range.

View market source ↗

202520302035

LOCAL SIGNAL73,200

foreign patients served by Shanghai public hospitals in 2025; not all were destination medical travellers.

Official source ↗

DELIVERY NETWORK22

public medical institutions approved as international medical-tourism pilot units since September 2023.

Official source ↗

THE GAPGreat medicine does not automatically create a great cross-border experience.

Why Shanghai, why now

Policy is turning clinical depth
into an exportable service.

Shanghai's edge is a system: specialty care, international-service standards, direct billing, multilingual coordination and a growing pilot network.

Policy architecture

The city explicitly supports intermediaries that connect overseas insurers, patients and local providers—and asks for one-stop service.

Read the English policy ↗

Service standard

DB31/T 1487–2024 anchors multilingual access, appointments and insurance direct billing.

Access window

Eligible travellers may use 240-hour transit without a visa—only when the third-country transit rules and other conditions are met.

Current official update: 57 countries, 65 ports.

Product implication

Do not sell “China access.” Sell an auditable pathway from fit-check to follow-up.

Beachhead strategy

Start narrow.
Earn the right to expand.

The first 18 months should optimize for repeatability and safety, not maximum procedure breadth.

COMPLEX SPECIALTY CARE

Record-led second opinions and coordinated high-acuity pathways.

OncologyOrthopaedicsPaediatrics

High trust / high value

PLANNED CARE

Clearly scoped procedures where time, navigation and cost visibility matter.

DiagnosticsRehabilitationSpecialty surgery

Repeatable pathways

TCM & RECOVERY

Clinically responsible wellness programs paired with Shanghai and Yangtze Delta recovery stays.

TCMPreventive careRecovery

Lower-acuity entry

GO-TO-MARKET HYPOTHESIS

Validate three referral corridors in sequence: Southeast Asia & overseas Chinese communities → Gulf markets → Russia/CIS. Each corridor gets its own language, payer and physician-referral playbook before paid consumer acquisition.

WHO BUYS, WHO BENEFITS

Four stakeholders. One shared need for certainty.

The business is strongest when one case produces value for the patient, referrer, payer and provider without compromising clinical independence.

International patient & family

PRIMARY NEED

Confidence that the case is suitable, the plan is understandable and support will continue after discharge.

CAREJOURNEY VALUE

One accountable coordinator, transparent milestones and a patient-controlled record trail.

COMMERCIAL ROUTECoordination fee + optional concierge

Referring physician / clinic

PRIMARY NEED

A credible specialist opinion without losing the patient relationship or clinical context.

CAREJOURNEY VALUE

Structured records, named specialists, response SLA and a documented hand-back.

COMMERCIAL ROUTECase enablement / B2B agreement

Insurer, TPA or employer

PRIMARY NEED

Eligibility, estimate discipline, case visibility and documentation that supports coverage decisions.

CAREJOURNEY VALUE

Pre-authorization pack, separated charges, status reporting and claims-ready documents.

COMMERCIAL ROUTEPayer enablement + workflow fee

Shanghai provider partner

PRIMARY NEED

Qualified international demand that arrives with usable records, realistic expectations and operational support.

CAREJOURNEY VALUE

Pre-screened intake, interpretation, non-clinical coordination and post-discharge follow-up.

COMMERCIAL ROUTEContracted service fee; clinical choice remains independent

Business model

Monetize coordination.
Protect clinical independence.

Revenue comes from operational value—not from influencing who gets treated, by whom, or how.

18%

Remote review

44%

Case coordination

24%

Concierge & wellness

14%

B2B / payer enablement

INTERACTIVE YEAR-3 MANAGEMENT CASE

Coordinated journeys720Avg. net platform revenue / journey$6,800Adjacent & recurring revenue$3.4MGross margin46%

Illustrative, unaudited management assumptions. Treatment spend belongs to providers and is excluded from platform revenue.

CALCULATED OUTPUT

Net revenue$8.3M

Gross profit$3.8M

Revenue per journey, blended$11.5K

The model is most sensitive to referral quality, case mix and staffing intensity—not just patient volume.

REVENUE ARCHITECTURE

Charge for work performed. Keep medicine independent.

Each revenue line has a defined buyer, charging trigger and conflict-control rule. Clinical charges remain with licensed providers and never appear as platform revenue.

STREAMBUYERCHARGETRIGGERGUARDRAIL

Remote case preparationPatient, referrer or payer

Fixed intake + partner-review fee

After fit-check, before clinical reviewNo diagnosis by the platform

End-to-end coordinationPatient or sponsor

Tiered case-management package

On acceptance of the care planPublished scope and separated provider bill

Concierge & recoveryPatient / family

Itemized optional services

Before booking each serviceNo bundled medical inducement

Payer & partner enablementInsurer, TPA, employer or provider

SaaS / workflow / service agreement

Contracted monthly or per caseNo pay-to-rank clinicians

BASE-CASE WALKTHROUGH$11.5K

blended platform revenue per coordinated journey

$6.8K average direct journey revenue

$4.7K blended adjacent and recurring contribution

46% gross margin after coordination labour and service delivery

720 coordinated journeys in the illustrative Year-3 case

Operating system

On-the-ground clinical coordinator and escalation protocol

↓

Recovery & follow-up

Discharge pack, home-clinician handoff and claims support

↓

ACCOUNTABILITY MAP

Every handoff has an owner and a proof artifact.

The operating model separates clinical authority from coordination, mobility and privacy responsibilities so escalation is fast and audit trails stay complete.

Clinical partner

Legal, medical and data controls are product requirements. Final launch decisions require qualified PRC medical, privacy, tax and immigration counsel.

GATE 01

Clinical

Partner-led record review; Shanghai launch does not assume a general right to conduct direct online first diagnosis.

NHC rule ↗

GATE 02

Data

Purpose limitation, separate consent, PIA, China-side data architecture and threshold monitoring for export mechanisms.

CAC guidance ↗

GATE 03

Entry

Transit eligibility and S2 treatment processes are distinct. The app explains options but never promises visa outcomes.

Shanghai service ↗

GATE 04

Payments

Provider charges, platform fees, insurance coverage and foreign-exchange documents remain visibly separated.

Policy basis ↗

RISKDESIGN CONTROLOWNERGATE

Clinical scope creep

Partner-led care; platform never makes autonomous clinical decisions.

Medical directorPre-launch

Sensitive data export

Data map, separate consent, PIA and approved export mechanism where triggered.

DPO / counselBefore transfer

Wrong entry pathway

Rules engine plus case review; no visa outcome promises.

Mobility opsBefore booking

Adverse event abroad

Hospital emergency ownership, multilingual escalation and insured case reserve.

Clinical opsBefore arrival

Incentive conflict

Published platform fees, clinical independence and no pay-to-rank doctors.

Board auditAlways-on

Product prototype

The plan becomes real
inside the app.

A trust-first customer experience, designed in English for global patients and ready to localize for Arabic RTL, Russian and other priority corridors.

NEW · DEDICATED PRODUCT PAGEExplore six role workspaces, every home action, 15 deep routes, permissions, analytics and the complete production technology architecture.Open APP blueprint ↗

PRODUCT DEFINITION

Six role views. One governed case truth.

The patient app is one surface of a role-aware operating system. Patients, coordinators, providers, service partners, payers and administrators receive different actions and minimum-necessary data while resolving to the same case milestones; licensed providers retain clinical authority.

01Explain before asking

Show scope, exclusions and next steps before requesting sensitive records.

02Human in the loop

Every qualified case has a named coordinator and a visible escalation path.

03Minimum necessary data

Collect and share only what the selected purpose and partner require.

04One operational truth

Patient, operator and partner views resolve to the same case milestones.

PATIENT APP

Understand. Decide. Travel. Recover.

Discovery and eligibility
Records and consent
Journey, billing and follow-up

↔SHARED CASE STATE

CARE CONTROL TOWER

Assign. Coordinate. Escalate. Prove.

Coordinator work queue
SLA and exception engine
Permission and audit timeline

↔CONTROLLED HANDOFF

PARTNER WORKSPACE

Review. Plan. Respond. Hand back.

Structured clinical file
Named-team response
Plan and discharge exchange

TRUST LAYER

Identity · purpose-based consent · access controls · encryption · audit trail · incident response

9:41● ● ●

GOOD MORNING, OLIVIA

Find the right
Shanghai pathway.

EXPLORE SHANGHAIHospital profilesPublic evidence

✓ PUBLIC PROFILEDUE DILIGENCE OPEN

Huangpu · Shanghai · Grade 3A · Academic medical centre

Ruijin Hospital

HaematologyEndocrinology

✓ PUBLIC PROFILEDUE DILIGENCE OPEN

Huangpu · Shanghai · Grade 3A · Specialty-led general hospital

Shanghai Ninth People’s Hospital

StomatologyPlastic & reconstructive

✓ PUBLIC PROFILEDUE DILIGENCE OPEN

Pudong · Shanghai · Grade 3A · Comprehensive teaching hospital

Renji Hospital

Comprehensive medicineSurgery

HOW MATCHING WORKS

01Public evidence02Case fit03Human review

No star ratings. No pay-to-rank clinical routing.

Evidence-led discovery

Image-rich hospital profiles, explainable matching and transparent promotion turn browsing into qualified intent.

PRODUCT PROMISE

Public-source evidence, visible verification gaps and no pay-to-rank clinical routing.

LIVE PROTOTYPE Discover: filter, open, save and compare hospitals; inspect the promoted programme. Consult: complete the three-step fit-check.

HOSPITAL CONTENT & GROWTH ENGINE

Rich discovery is an operating system, not decoration.

Every image, claim, button and conversion path has a defined evidence source, user purpose and operational owner.

01Evidence profile

Official facts, specialty signals, sources and unresolved readiness checks.

02Patient story layer

Plain-language pathway explainers, realistic visuals and preparation checklists.

03Qualified action

Save, compare, fit-check and record intake—each with a visible next step.

04Governed growth

Sponsored visibility is labelled; clinical routing remains independent.

Hospital story→Qualified interest→Human fit-check→Provider review→Coordinated journey

PATIENT

Receives discharge, translation and follow-up materials.

SYSTEM

Closes permissions or hands off to the confirmed home clinician.

Discharge pack + permission status

18-month roadmap

Prove the corridor.
Then compound the network.

Scale only after partner, clinical, data and payer gates are demonstrably working.

0–3 MONTHS

License & design

Incorporation and medical-service scope opinion
Anchor-hospital and internet-hospital partner term sheets
Data map, PIA framework and incident model

GATE: two launch-ready pathways

4–6 MONTHS

Controlled alpha

Coordinator console and patient app MVP
50 supervised cases across one referral corridor
Clinical SLA and multilingual escalation drills

GATE: safety + NPS evidence

7–12 MONTHS

Commercial pilot

Two B2B referral markets live
Insurance verification / claims workflow
Three standardized care journeys

GATE: repeat referrals

13–18 MONTHS

Repeatable scale

Third corridor and TCM recovery products
Unit economics by pathway and source
Board-ready quality and privacy reporting

GATE: Series A readiness

ILLUSTRATIVE SEED ENVELOPE

US$4.2M18 months of controlled build + validation

30% Product & security28% Clinical operations20% Partnerships12% Compliance10% Reserve

Company build & execution

A market thesis is not
yet a company.

This chapter consolidates the business-plan fundamentals that turn the opportunity into an investable operating plan: market outlook, advantage, core resources, people, execution ownership and long-term development.

DOCUMENT COVERAGE10 / 10core areas explicitly mapped

01Market✓02Customer✓03Product✓04Competition✓05Model✓06Resources✓07Team✓08Operations✓09Risk✓10Roadmap✓

Coverage means the topic is explicitly addressed in this plan. It does not imply commercial, legal or operational readiness; those require the evidence gates below.

Market & prospect

Move from a large global category to a qualified Shanghai corridor.

The investment case uses a funnel—not a headline TAM. Public market and Shanghai signals define the opportunity; corridor demand, partner capacity and conversion data must define the serviceable business.

01 · TAM · SOURCED

$174.1B global category by 2035

The cited base forecast implies 8.4% CAGR. It establishes category momentum, not CareJourney revenue.

02 · LOCAL SUPPLY

22 public pilot institutions

Shanghai adds policy support, international-service standards and visible foreign-patient demand. Provider readiness still requires diligence.

03 · SAM · TO VALIDATE

3 corridors × 3 care pathways

Start with qualified referral channels and record-led oncology, orthopaedics and paediatrics. Size from actual leads, eligibility and named capacity.

04 · SOM · OPERATING PROOF

50-case alpha before expansion

The first proof is safe case completion, repeat referrals and contribution economics by corridor—not an unsupported market-share claim.

WHAT MAKES IT REAL

Investment proof: corridor willingness to pay + signed provider capacity + repeatable case economics.

PHASED PERSONNEL PLAN

Staff the operating risk, then earn automation.

Headcount ranges are management planning assumptions. Specialist services may be contracted, but accountability must remain with a named internal owner.

TARGET TEAM10–12full-time-equivalent planning range

Contract the operating perimeter and build the safe minimum system.

Leadership2

CEO / GM and COO / Head of Clinical Operations

Medical governance & quality1–2

Medical director arrangement, pathway scope, safety and audit

Care operations & language3

Lead coordinators, intake and bilingual patient operations

Product, engineering & security3–4

Product lead, full-stack build, UX and security ownership

Partnerships & finance1

Anchor-provider contracting and seed controls

FLEXIBLE SPECIALIST BENCH

Specialist bench: PRC medical/data counsel, penetration testing, accredited interpreters and travel-supplier diligence.

STAGE GATE

No patient intake until named clinical ownership, consent, incident response and minimum-security controls are signed off.

OPERATING READINESS BOARD

Eight workstreams must close before scale.

This is the practical landing checklist: accountable owner, required evidence and the point at which the gate becomes binding.

WORKSTREAMACCOUNTABLE OWNERREQUIRED EVIDENCEHARD GATE

01Entity & licensed scopeCEO + PRC counsel

Entity documents; medical-service, tax and data opinions

Before partner contracting

02Anchor provider networkPartnership lead + Medical director

Executed MSA, pathway matrix, capacity and response SLA

Before intake opens

03Clinical operating modelCOO + Quality lead

SOP set, escalation tree, adverse-event drill and audit plan

Before supervised alpha

04Privacy & production securityDPO + CTO

Data map, PIA, threat model, access test and incident runbook

Before sensitive records

05Patient service networkHead of Care Operations

Language rota, vendor diligence, arrival and recovery handoffs

Before first arrival

06Corridor distributionGrowth / Partnership lead

Referral LOIs, attribution model, fit criteria and channel scripts

Before paid acquisition

07Economics & reservesFinance lead + COO

Case P&L, cash forecast, refunds, vendor and adverse-event reserve

Before commercial pilot

08Quality & board reportingCEO + Quality committee

Safety, SLA, privacy, experience and unit-economics scorecard

Monthly from alpha

NON-NEGOTIABLE OPERATING BOUNDARYCareJourney coordinates the journey. Licensed providers decide and deliver clinical care.

That division informs organisation design, contracts, permissions, product language, insurance and every launch gate above.

Investor data room

Evidence, assumptions
and what remains open.

This brief separates sourced facts from management hypotheses. The supplied Chinese feasibility studies informed the strategy; current public sources were re-checked for major policy and operating claims.

01MARKET

Medical Tourism Market Size & Forecast, 2026–2035

Global Market Insights · 2025 market estimate and 2035 base forecast used in the opportunity section.

↗02POLICY

Implementation Opinions on International Medical Innovation

Shanghai Municipal Government · Policy support for medical, insurance and tourism integration, intermediaries and multilingual access.

↗03TRACTION

Shanghai aims to strengthen global medical hub status

Shanghai Municipal Government · Current pilot-institution count and 2025 foreign-patient volume in public hospitals.

↗04ENTRY

240-hour visa-free transit policy

National Immigration Administration · Eligibility, third-country transit condition and current country / port coverage.