ByteDance Ltd, the parent company of social media platforms TikTok and Douyin, has acquired Amcare Healthcare, a chain of high-end private hospitals in China. The deal, valued at USD1.5 billion according to Bloomberg, was executed by ByteDance’s healthcare unit Xiaohe Health.
About Amcare Healthcare
Amcare Healthcare was established in Beijing in 2006. It provides medical services through a network of clinics and hospitals focused on women’s health and pediatric care. Its services include obstetrics, gynecology, pediatrics, reproductive health, and postpartum care. The flagship brand, Amcare Women’s & Children’s Hospital, has multiple locations across the country, including Beijing and Shenzhen. The company’s investors include Warburg Pincus, which invested USD100 million in 2013.-Fineline Info & Tech
