Buymed and ABBANK strategic cooperation

On June 14th, Buymed, a Vietnamese healthtech startup platform with the website Thuocsi.vn, and An Binh Commercial Joint Stock Bank (ABBANK) announced a strategic partnership to implement supply chain financing in the pharmaceutical industry and pave the way for sustainable development solutions.

Buymed and ABBANK signed a cooperation agreement

This collaboration will combine ABBANK's financial strength with Buymed's technological capabilities and distribution network of nearly 40,000 pharmacies across three countries to enhance access to financing for the vast pharmaceutical supply chain.

Specifically, private pharmacies operating under a family-run retail model, suppliers, warehousing units, and Buymed's product delivery system will be granted credit with preferential terms based on the big data that Buymed possesses.

Mr. Nguyen Huu Minh Hoang, co-founder and CEO of Buymed

According to Mr. Nguyen Huu Minh Hoang, co-founder and CEO of Buymed, highly appreciated the opportunity to cooperate with ABBANK: “This forward-looking approach will empower suppliers to apply environmentally friendly methods, promote fair labor standards and contribute to the general welfare of the community”.

Mr. Pham Duy Hieu, Acting General Director of ABBANK

"ABBANK is committed to supporting businesses that promote social responsibility and sustainable development. Our partnership with Buymed is a testament to this commitment. With mutual respect and trust, we can open up new opportunities for comprehensive growth and shared prosperity," said Mr. Pham Duy Hieu, Acting General Director of ABBANK.

Not only that, this cooperation also opens up two important directions: The ability to immediately purchase medicine with an overdraft limit when using the purchasing system on the thuocsi.vn platform; and more importantly, the process of moving towards a sustainable supply chain financing model.

The combination of ABBANK with more than 2 million individual customers and Buymed with 35,000 pharmacies, more than 200,000 direct and indirect employees to provide financial solutions, including credit, cashless payments and overdrafts through technology not only helps stakeholders in the value chain benefit from having more resources and customers but also impacts the entire pharmaceutical industry.

BINH LAM

Source: https://www.sggp.org.vn/buymed-va-abbank-hop-tac-chien-luoc-post744632.html