Caixin
Aug 09, 2022 05:29 AM
BUSINESS

Exclusive: ByteDance Takes Over Private Hospital Operator for $1.5 Billion

Established in 2004, Amcare owns seven women and children’s hospitals, two general outpatient centers and five confinement centers.
Established in 2004, Amcare owns seven women and children’s hospitals, two general outpatient centers and five confinement centers.

Social media giant ByteDance paid about 10 billion yuan ($1.5 billion) to take full control of one of China’s largest private hospitals, the tech giant’s latest step to expand in health care.

The business registration system showed an ownership change for Amcare Healthcare, a private hospital for women and children known for high-end services. Shareholder Xiaohe Health (Hong Kong) Ltd. increased its stake from 41.49% to 69.5%. Xiaohe Health Technology (Beijing) Ltd. owns the remaining 30.47%. The pair are subsidiaries of ByteDance, the owner of TikTok.

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