TikTok father or mother ByteDance acquires non-public hospital chain

TikTok parent-company ByteDance’s healthcare unit in China, Xiaohe Well being, has acquired a high-end healthcare group known as Amcare Healthcare.

Bloomberg mentioned the deal is price $1.5 billion.

Amcare Healthcare was based in Beijing in 2006 and it affords medical companies like maternity care, girls’s well being and pediatrics. It additionally operates Amcare Ladies’s & Youngsters’s Hospital, which is the primary model of Amcare Healthcare in China.

A spokesperson for Xiaohe Well being confirmed the acquisition. The corporate did not instantly clarify why it is increasing into healthcare. But it surely’s a pattern within the tech sector as corporations attempt to discover new methods to serve clients.

Amazon introduced in July that it’s buying One Medical for roughly $3.9 billion. Apple continues to develop within the house. Its Well being app can retailer medical information if a affected person visits a healthcare supplier that helps the system, for instance, and CEO Tim Prepare dinner as soon as remarked the corporate’s “biggest contribution to mankind” will likely be “about well being.”