Ant Financial eyes 5% health care stake

Source: Xinhua | 2018-06-06

ANT Financial intends to purchase a minority stake in Shanghai-listed Winning Health Technology Group through an investment subsidiary to accelerate the digitization process of health care and medical services.

Winning Health said in a stock exchange listing that it is discussing a transfer of at least a 5 percent equity stake to Shanghai Yunxin Venture Capital Management Co, a subsidiary of Ant Financial.

Winning Health has suspended trading since Monday.

Winning Health and Yunxin Venture Capital said they are collaborating in the “Internet Plus medical and health care services” sector, but details still need to be worked out, according to the stock exchange filing.

Health information services have been a major area where Internet giants are tying up to utilize technology and data capability in the restructuring of the existing pharmaceutical and medical services sector.

Alibaba’s affiliate AliHealth also inked a framework resources-sharing agreement with Winning Health in 2015.