TikTok logos are seen on smartphones in entrance of a displayed ByteDance emblem on this illustration taken November 27, 2019.
Dado Ruvic | Reuters
TikTok parent-company ByteDance’s healthcare unit in China, Xiaohe Well being, has acquired a high-end healthcare group known as Amcare Healthcare.
Bloomberg said the deal is price $1.5 billion.
Amcare Healthcare was based in Beijing in 2006 and it presents medical companies like maternity care, girls’s well being and pediatrics. It additionally operates Amcare Ladies’s & Youngsters’s Hospital, which is the principle 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. Nevertheless it’s a development 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 increase within the area. Its Well being app can retailer medical data if a affected person visits a healthcare supplier that helps the system, for instance, and CEO Tim Cook dinner as soon as remarked the corporate’s “best contribution to mankind” shall be “about well being.”