Alibaba Plans to Divest Tmall Pharmacy to Alibaba Health
In a bid to bolster presence in China’s healthcare sector, Alibaba Group Holding Limited BABA is planning to sell certain pharmacy assets from its Tmall platform to Alibaba Health Information Technology, a Hong Kong listed company. Notably, Alibaba Health became a subsidiary of Alibaba in 2015. Per the terms, the deal has been valued at $1.35 billion under which Alibaba Health will buy Ali JK Nutritional Products that manages sales of medical products and devices as well as healthcare services on Tmall platform. […]