Buymed

What Buymed does

Buymed (BuyMed Co., Ltd.), founded in 2018 and headquartered in Ho Chi Minh City, is a healthcare technology company operating a B2B pharmaceutical e-commerce marketplace and a modern pharmacy retail network across Vietnam, Thailand, and Cambodia. Its core platform, thuocsi.vn (operated through the Buymed App), connects manufacturers and distributors with 38,000–44,000 pharmacies, clinics, and hospitals, offering more than 22,000 products with transparent pricing, delivery tracking, and no minimum order quantities. The company also operates the Circa retail pharmacy network, including company-owned stores and franchised locations under a FOCO model, and runs Buymed Logistics Co., Ltd., a warehousing and fulfillment subsidiary with a 5,000 sqm GDP/GSP/GPP-certified facility in Bac Ninh Province and a Binh Duong warehouse equipped with Autonomous Mobile Robot (AMR) automation.

The business operates on a transaction-based take-rate model on platform commerce, supplemented by exclusive distribution agreements with multinational pharmaceutical manufacturers (notably Sanofi/Opella for OTC and ethical products), authorized distribution arrangements across Vietnam, Thailand, and Cambodia, and revenue from Circa retail and franchised pharmacies. Supporting infrastructure includes ~20,000 sqm of logistics space across 150+ logistics hubs, achieving a 36-hour average lead time and full coverage of Vietnam's 63 provinces. Buymed also deploys a $1 million-invested dynamic QR traceability system covering 100% of distributed products, a Thermo Truscan RM handheld Raman spectrometer for quality inspection, and complementary services such as pharmacist CPE-certified training programs and ABBank supply chain financing for pharmacies.

The company is private, led by co-founders Hoang Nguyen (CEO), Vu Vuong (COO), and Vuong Dinh Vu (CCO), with Genesia Ventures as a disclosed institutional investor. Strategic positioning emphasizes three vectors: a multi-sided digital pharmaceutical supply chain, authorized distribution partnerships with global pharma majors, and a hybrid digital-physical retail buildout via Circa — supported by recent awards including the Vietnam Golden Star Award 2024 and AmCham Vietnam ESG Impact Showcase 2024.

Name

Buymed

Legal name

BuyMed Co., Ltd.

Website

https://buymed.com

Company type

Private

Founded year

2018

Operating status

Operating

Short description

Buymed operates a B2B pharmaceutical e-commerce marketplace (thuocsi.vn) and a modern pharmacy retail network (Circa) across Vietnam, Thailand, and Cambodia, connecting manufacturers and distributors with 38,000–44,000 pharmacies and providing logistics, traceability, and financing services.

Ownership category

akta.pro rank

Product category

B2B Pharmaceutical Marketplace

NAICS

Drugs and Druggists' Sundries Merchant Wholesalers (42421), Pharmacies and Drug Retailers (45611)

SIC

Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122), Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Medical, Dental & Lab Supply Marketplaces (CRAFAHAG)

akta.pro secondary industries

Pharmacy Benefit/Channel Services (PSAO, 340B Admin, Chargebacks/Rebates Ops) (CRAOAHAK), Direct-to-Provider / Clinic Buy-and-Bill Distributors (HLAIAJAM), Pharmacy & Health Essentials Delivery (CRAFAFAI)

Keywords

• Pharmaceutical marketplace
• B2B pharmacy procurement
• Pharmaceutical distribution
• Healthcare supply chain
• Pharmacy retail network

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Operations, Supply Chain, Marketing or Sales, Personnel, Technology or R&D, Infrastructure

Revenue model

1. B2B Platform Transaction Revenue: Revenue generated through thuocsi.vn platform from pharmacies, clinics, and hospitals purchasing pharmaceutical products from distributors and manufacturers. Platform facilitates transactions with transparent pricing and delivery tracking.
2. Franchise and Retail Operations: Revenue from Circa pharmacy network including company-owned stores and franchised pharmacies operating under standardized brand and operating procedures.
3. Authorized Distribution Partnerships: Exclusive distribution agreements with pharmaceutical brands such as Sanofi (Phosphalugel, Magne B6) enabling distribution to traditional pharmacies through the platform.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Buymed operates a B2B pharmaceutical e-commerce marketplace (thuocsi.vn) that connects pharmaceutical manufacturers and distributors with pharmacies, clinics, and hospitals across Vietnam, Thailand, and Cambodia. The platform enables product discovery, price comparison, transparent pricing, no-minimum-order procurement, and delivery tracking across 22,000+ SKUs. Buymed also runs the Circa Pharmacy B2C retail network (company-owned and franchised) and Buymed Logistics for GDP/GSP-certified warehousing and fulfillment.

Product overview

Buymed operates as a B2B pharmaceutical marketplace and digital healthcare platform across Vietnam, Thailand, and Cambodia. The core offering consists of the Buymed App (B2B ordering platform connecting pharmacies with distributors and brands) and the Circa Pharmacy sub-brand (B2C retail pharmacy network including company-owned and franchised stores). The thuocsi.vn platform serves as the specialized e-commerce marketplace for pharmacies, clinics, and hospitals. Together, these products form a unified pharmaceutical supply chain ecosystem that connects manufacturers, distributors, hospitals, pharmacies and patients through a digital infrastructure enabling transparent pricing, streamlined procurement, and efficient delivery.

Differentiator

Problem solved

Functional benefit

Brands

• Circa: B2C retail pharmacy network modernizing traditional pharmacies, including company-owned stores and franchised pharmacies. Enables pharmacies with data-driven insights, systematic supply chain, and upgraded SOPs across customer service and marketing.
• thuocsi.vn
• Buymed App

Products and services

• Buymed App (thuocsi.vn B2B Ordering Platform) Centralized B2B ordering platform connecting pharmacies with distributors and brands. Pharmacies can discover products, compare offers, and purchase directly from distributors and brands with streamlined ordering, transparent pricing, and delivery tracking.
• Circa Pharmacy Retail Network O2O retail pharmacy network including company-owned stores and franchised pharmacies under the FOCO (Franchise Own, Company Operate) model. Modernizes traditional pharmacies with data-driven insights, systematic supply chain, and upgraded SOPs for customer service and marketing.
• Buymed Logistics Pharmaceutical Warehousing and Fulfillment Pharmaceutical warehousing, logistics, and fulfillment operations managed through Buymed Logistics Co., Ltd., a wholly-owned subsidiary operating GDP/GSP-certified warehouses with AMR automation (Binh Duong) and Raman spectrometer quality verification (Bac Ninh).

Quantifiable outcome

• 71% of pharmacies increased their medicine variety
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Partnerships

32 partnerships are on record, tiered core, major and minor.

• SHIELDcoreStrategic or Co-development Partner · 23 August 2024Strategic cooperation to fight fraud in the healthcare ecosystem. Partnership focused on combating counterfeit drugs and strengthening trust within the pharmaceutical industry through advanced fraud detection and prevention measures.
• Sanofi VietnamcoreStrategic or Co-development Partner · 6 March 2024Strategic partnership agreement signed on March 6, 2024, to develop sustainable pharmaceutical market and foster community well-being through professional training. Includes authorized distribution of Sanofi products (Phosphalugel, Magne B6) to traditional pharmacies via thuocsi.vn. Combined coverage reached 11,000-12,000 pharmacies in first two months of 2024.
• Dai Bac Mien NamcoreStrategic or Co-development PartnerStrategic partnership strengthening collaboration with leading pharmaceutical brand in Vietnam. Represents commitment to understanding partner challenges and building collaborative solutions for sustainable market growth.
• Reckitt VietnamcoreStrategic or Co-development PartnerStrategic meetings to strengthen partnership and build collaborative solutions for sustainable market growth in Vietnam.
• Great Eastern Drug (GED)coreStrategic or Co-development PartnerStrategic partnership expansion in Thailand with leading pharmaceutical company, demonstrating commitment to building sustainable long-term partnerships across Southeast Asia.
• Organon ThailandcoreStrategic or Co-development PartnerStrategic presence expansion in Thailand with Organon, contributing to regional growth and partnership building in Southeast Asian market.
• SantencoreStrategic or Co-development PartnerDeepened partnership with Santen, Japan's respected pharmaceutical corporation with 130+ years in eye care innovation. Partnership expands access to premium eye care solutions across Vietnam's pharmaceutical network.
• United International Pharma (UIP)coreStrategic or Co-development PartnerStrategic partnership focusing on expansive collaboration across Vietnam, Thailand, and Cambodia to improve healthcare access and drive sustainable growth throughout the region.
• Opella VietnamcoreStrategic or Co-development PartnerDeepening strategic partnership with exclusive OTC eCommerce distribution model on thuocsi.vn. Expansion planned for 2025 with additional trusted consumer healthcare brands. 15,000 m² warehouse visit reinforcing operational partnership.
• Opella (formerly Sanofi Consumer Healthcare)coreStrategic or Co-development PartnerContinued collaboration as Opella launched as independent company, with strategic meetings reviewing exclusive OTC eCommerce distribution model performance and pharmacy reach.
• Menarini ThailandcoreStrategic or Co-development PartnerStrategic engagement with Menarini leadership including ecosystem partnership for market impact through data, education, and channel innovation. Long-term scalable collaboration with portfolio-wide growth strategy.
• Reckitt ThailandcoreStrategic or Co-development PartnerStrategic elevation of partnership recognizing Buymed's scalable business model and ability to deliver real-time market data. Tailored commercial frameworks and expanded market coverage planned.
• DKSHmajorChannel Partner/ Reseller/ DistributorRegional alliance with DKSH Cambodia and Thailand, transforming potential channel conflict into high-potential partnership for unified market opportunities with data-driven collaboration.
• Mega WeCaremajorStrategic or Co-development PartnerUnified strategy for regional dominance with shared vision for regional growth, compliance, and data-driven excellence in Cambodia.
• Rohto-MentholatummajorStrategic or Co-development PartnerPartnership accelerating growth of V.Rohto and Rohto cosmetics portfolio in Cambodia, demonstrating Buymed's role as unifying force in regional healthcare.
• T-Man (Propoliz)majorStrategic or Co-development PartnerStrategic meeting exploring new frontiers in key account management, pricing strategies, and cross-border expansion into Vietnamese market for Propoliz brand.
• Boss PharmacaremajorStrategic or Co-development PartnerCross-border bridge uniting Boss Pharmacare's eight-decade legacy in Thailand with Buymed's market dominance in Vietnam, aiming to redefine regional pharmaceutical excellence.
• Danapha PharmaceuticalcoreChannel Partner/ Reseller/ DistributorExclusive distribution agreement to promote Vietnam's domestic pharmaceutical industry, focusing on expanding reach of locally produced medicines and traditional herbal products.
• MerckcoreStrategic or Co-development PartnerStrategic discussions with leading pharmaceutical partner for 2026 planning, reflecting on past achievements and building sustainable healthcare ecosystem.
• AstraZenecacoreStrategic or Co-development PartnerStrategic 2026 partnership to optimize pharmaceutical supply chain and improve medicine accessibility across Vietnam. In-depth working session to evaluate performance and development roadmap.
• OPVcoreStrategic or Co-development PartnerStrategic partnership strengthening for 2026 with focus on healthcare distribution excellence.
• Vinh Phuc PharmaceuticalcoreStrategic or Co-development PartnerStrategic partnership building sustainable healthcare ecosystem and ensuring accessible quality medicines across Vietnam.
• BidipharcoreStrategic or Co-development PartnerStrategic partnership strengthening for 2026 with focus on healthcare distribution excellence.
• SumitomocoreStrategic or Co-development PartnerStrategic discussions with Sumitomo for 2026 planning toward sustainable healthcare ecosystem.
• VidiphacoreStrategic or Co-development PartnerStrategic discussions with Vidipha for 2026 planning toward sustainable healthcare ecosystem.
• Pharma VitacoreStrategic or Co-development PartnerInvestment partnership with Pharma Vita to launch 20 franchised pharmacies under FOCO (Franchise Own, Company Operate) model in Vietnam's major cities. Circa provides end-to-end operational support including site selection, store design, and quality management.
• SanoficoreStrategic or Co-development PartnerCollaboration on Accompanying Traditional Pharmacies initiative, including CPE certification training program for pharmacists in Can Tho and Mekong Delta region.
• Doccen Technology JSCcoreStrategic or Co-development PartnerPartner in training program providing free CPE certification for 200+ pharmacists in Can Tho, organized with Sanofi and licensed by Can Tho Department of Health.
• Various Donors (Danson Group, Pharmedic, Bidiphar, Thai Nakorn, Hoang Vu Pharmaceuticals, Phuc Vinh Pharmaceuticals, Usarichpharm)minorOthersCollaboration in Compassionate Medicine Bags project distributing 500+ gift bags with essential pharmaceuticals to pharmacy community affected by Central Vietnam floods.
• AbbottmajorStrategic or Co-development PartnerVisit to Abbott's state-of-the-art manufacturing facility reinforcing commitment to advancing healthcare standards and ensuring every product meets highest quality levels.
• SanoficoreStrategic or Co-development PartnerVisit to Sanofi's office and manufacturing facilities strengthening partnership. Sanofi launched official store on Buymed's marketplace, bridging pharmaceutical expertise with digital innovation.
• Vietnam Young Entrepreneurs AssociationminorStrategic or Co-development PartnerParticipation in Vietnam-China Youth Exchange organized with China International Youth Exchange Center, exploring collaboration opportunities in healthcare, technology, and sustainable development.

Scale indicators15 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• DKSH: Swiss-listed market expansion services company with a major Healthcare unit distributing pharmaceuticals across SEA. Buymed itself has a strategic regional alliance with DKSH Cambodia and Thailand, and the two compete for B2B pharma distribution share in the same geographies.
• Alodokter: Leading Indonesian digital health platform connecting patients with doctors, hospitals, and pharmacies. Comparable to Buymed as an integrated digital health ecosystem in SEA, with similar partner-driven model across providers, manufacturers, and consumers.
• Tata 1mg: India-based digital health platform offering e-pharmacy, diagnostics, and teleconsultation services. Comparable business model combination of B2B pharmacy supply and B2C retail that mirrors Buymed's thuocsi.vn plus Circa structure.
• Halodoc: Indonesia's largest digital health platform offering teleconsultation, medicine delivery, and pharmacy partnerships. Comparable to Buymed as a digital health ecosystem in SEA, though more consumer-facing and primary-care focused rather than B2B procurement.
• GoApotik: Indonesia-focused B2B pharmaceutical e-commerce platform connecting pharmacies with distributors and manufacturers. Closest analog to Buymed's thuocsi.vn marketplace model, serving a similar SMB pharmacy customer base with comparable take-rate economics.
• MedPlus: India's second-largest pharmacy retail chain with a wholesale distribution arm supplying its own and affiliated stores. Closely parallels Buymed's combined Circa retail and B2B distribution model, with strong vertical integration between procurement and retail pharmacy.
• PharmEasy: India's leading B2B and B2C pharmaceutical e-commerce platform connecting distributors with pharmacies and consumers. Operates a marketplace plus retail diagnostic model similar to Buymed's thuocsi.vn plus Circa combination, though at much larger scale in India.

Regional players

• mPharma: Africa-focused pharma distribution and retail pharmacy network operating inventory financing and supplier-to-pharmacy marketplace models. Highly comparable business model to Buymed but focused on African markets rather than SEA.

Broad incumbents

• Zuellig Pharma: One of the largest pharma distribution and healthcare services groups in Asia, operating across SEA with extensive B2B relationships. It competes head-to-head with Buymed's wholesale distribution and marketplace model but at significantly greater scale and broader service scope.
• Mega Lifesciences: Public-listed Thai company distributing pharma and consumer health products across SEA and emerging markets. Operates as both a distribution partner to Buymed (Mega WeCare in Cambodia) and a competing channel for pharma manufacturer relationships in overlapping geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Buymed