Tech Insider: TikTok-Owner’s Health Care Play, Chip Crackdown Deepens
Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.
Tiktok owner makes big health care play
ByteDance Ltd. has acquired Amcare Healthcare, a major women-and-children focused private hospital chain, significantly deepening its investment in the health care sector.
The TikTok-owner paid about 10 billion yuan ($1.5 billion), sources told Caixin, using its subsidiaries Xiaohe Health (Hong Kong) Ltd. and Xiaohe Health Technology (Beijing) Ltd. to complete the deal.
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