TikTok Parent Company Acquires Hospital Chain For $1.5 Billion
And More ı By Rochdi Rais
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TikTok parent-company ByteDance’s healthcare unit in China, Xiaohe Health, has acquired a high-end healthcare organization called Amcare Healthcare.
According to Bloomberg, the deal is worth $1.5 billion.
Amcare Healthcare was founded in Beijing in 2006. The private firm offers medical services, including maternity care, women’s health and pediatrics. It also operates Amcare Women’s & Children’s Hospital.
A spokesperson for Xiaohe Health confirmed the deal. The firm 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.
On the other side of the world, Amazon announced in July that it is acquiring One Medical for roughly $3.9 billion. Apple is also expanding 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 firm’s “greatest contribution to mankind” will be “about health.”
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