TikTok parent ByteDance acquires private hospital chain
TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019.
Dado Ruvic | Reuters
TikTok parent-company ByteDance’s healthcare unit in China, Xiaohe Health, has acquired a high-end healthcare organization called Amcare Healthcare.
Bloomberg said the deal is worth $1.5 billion.
Amcare Healthcare was founded in Beijing in 2006 and it offers medical services like maternity care, women’s health and pediatrics. It also operates Amcare Women’s & Children’s Hospital, which is the main brand of Amcare Healthcare in China.
A spokesperson for Xiaohe Health confirmed the acquisition. The company didn’t immediately explain why it’s expanding into healthcare. But it’s a trend in the tech sector as companies try to find new ways to serve customers.
Amazon announced in July that it is acquiring One Medical for roughly $3.9 billion. Apple continues to expand in the space. Its Health app can store medical records if a patient visits a healthcare provider that supports the system, for example, and CEO Tim Cook once remarked the company’s “greatest contribution to mankind” will be “about health.”
TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019.
Dado Ruvic | Reuters
TikTok parent-company ByteDance’s healthcare unit in China, Xiaohe Health, has acquired a high-end healthcare organization called Amcare Healthcare.
Bloomberg said the deal is worth $1.5 billion.
Amcare Healthcare was founded in Beijing in 2006 and it offers medical services like maternity care, women’s health and pediatrics. It also operates Amcare Women’s & Children’s Hospital, which is the main brand of Amcare Healthcare in China.
A spokesperson for Xiaohe Health confirmed the acquisition. The company didn’t immediately explain why it’s expanding into healthcare. But it’s a trend in the tech sector as companies try to find new ways to serve customers.
Amazon announced in July that it is acquiring One Medical for roughly $3.9 billion. Apple continues to expand in the space. Its Health app can store medical records if a patient visits a healthcare provider that supports the system, for example, and CEO Tim Cook once remarked the company’s “greatest contribution to mankind” will be “about health.”
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