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Alibaba consolidates healthcare assets into Alibaba Health Information Technology

Tuesday 29 May 2018 | 21:37 CET | News
Alibaba Group has agreed to sell certain Tmall Pharmacy healthcare categories to Alibaba Health Information Technology. Alibaba Group will receive HKD 10.6 billion of newly issued shares of Alibaba Health, which became a subsidiary of Alibaba Group in 2015. Categories moving over to the Alibaba Health platform from Tmall Pharmacy include medical devices and healthcare products, adult products and medical and healthcare services. Altogether, they represented 3,300 merchants on the platform and CNY 20.6 billion (approximately USD 3.2 billion) in gross merchandise value in the fiscal year ended

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Categories: Internet
Companies: Alibaba
Countries: China / Hong Kong
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