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Alibaba Sells Pharmacy Assets To Health-Care Unit in $1.4b Deal

Healthcare spending in China will hit $1 trillion by 2020

Chinese e-commerce giant Alibaba Group will sell some healthcare assets from their Tmall online platform to their Hong Kong listed subsidiary Alibaba Health Information Technology in order to consolidate their healthcare assets.

The deal is worth $1.4 billion.

According to Alibaba, the assets include medical devices and healthcare products, adult products and medical and healthcare services. Altogether, they represented 3,300 merchants on the platform and$ 3.2 billion in gross merchandise value in the fiscal year ended March 31, 2018.

China’s healthcare sector is expected to grow significantly and rapidly in the coming years, Frost & Sullivan forecasts total healthcare expenditure in China to climb to $1.8 trillion in 2026 from $720 billion in 2016 at a compound annual growth rate of 9.4%.

#costefficiency #returns #China #Alibaba #Healthcare

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