Alibaba Group Holdingâ€™s Private Fund Agreed to Invest 200 million Yuan In Chinese Medical Device Company
Published By : 09 Jun 2015 | Published By : QYRESEARCH
The Alibaba Group Holding is the most celebrated name in the ecommerce industry of China. The founder of Alibaba Group Jack Ma aims to build an invincible online empire that would help consumers access and fulfil every requirement by a simple tap of finger or click of a mouse. After venturing in different industries across the country, the Alibaba group is now gearing up to extend its bet on the healthcare sector of China.
Yunfeng Capital, is a private company which ones again is co-founded by Ma is preparing along with other investors to pump a whopping investment worth 880 million yuan or US$142 million in the Wandong Medical Equipment Resources in China. The company is one of the leading manufacturers of medical imaging devices in China based in Beijing. Yunfeng Capital, according to reports, has agreed to invest 200 million yuan or US$32 million to subscribe over 5.7 million shares of the company. The information was revealed in the June 5th Company filing.
Wandong and Alijk are Hong Kong based healthcare units listed under Alibaba. These units are likely to provide Internet based digital medical imaging services, as it was revealed in the filing. Wandong is believed to have agreed to offer evaluation of CT scans and MRIs of patient’s to Yidegu, which again an online healthcare platform of Alibaba. The information pertaining to this as well was revealed in filing.
The deal has forayed only after billionaire Wu Guangming’s (who is also a controlling shareholder of Wandong) company named Jiangsu Yuyue Medical Equipment & Supply finalized a 3-years agreement with Alijk to explore opportunities offered by the medical resource management sector in China.