ByteDance gets deeper into the healthcare sector with Amcare Healthcare acquisition

guest · Aug 10, 2022

August 9, 2022

TikTok’s parent company, ByteDance, has acquired Amcare Healthcare for 10 billion yuan ($1.48 billion). It has taken full ownership of the company through two of its subsidiaries. According to Bloomberg, ByteDance is not new to the healthcare scene as it owns a healthcare app called Xiaohe which facilitates online consultations, hospital appointments, and wellness services.

The move into the health sector seems to be a growing trend among tech companies.
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While it seems a bit strange that big tech firms are getting into the health field, it actually makes a lot of sense. They are in a unique position to develop technologies that can significantly improve people’s treatments.

As a bit of background on Amcare Health, Bloomberg says that the company runs various women’s and children’s hospitals in Chinese cities like Beijing and Shenzhen. The information was passed on to Bloomberg by a person familiar with the acquisition.
Source: Bloomberg
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ByteDance Pays $1.5 Billion for China Hospital Chain in Health Foray

TikTok owner joins tech giants in seeking growth in the area

ByteDance has seen its valuation slide sharply this year

ByteDance Ltd. has acquired one of China’s largest private hospital chains for about $1.5 billion, deepening a foray into health care via one of the largest domestic tech deals since Beijing’s internet crackdown.
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ByteDance gets deeper into the healthcare sector with Amcare Healthcare acquisition

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ByteDance gets deeper into the healthcare sector with Amcare Healthcare acquisition

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