ByteDance Increases Investments in Offline Medical Services


《ByteDance Increases Investments in Offline Medical Services》

Image source: China Visual

BEIJING, August 8 (TMTPOST) — Beijing Amcare Medical Management Co Ltd, a high-end hospital group, has recently registered changes in its shareholding structure with industrial and commercial authorities, including Xiaohe Health (Hong Kong) Ltd, a subsidiary of Xiaohe Health Technology (Beijing) Ltd, becoming a majority shareholder of the hospital group.

In September 2021, Xiaohe Health Technology (Beijing) made its first investment in Amcare through buying a 17.5748% stake. In June 2022, Xiaohe Health (Hong Kong) increased its stake in Amcare to 41.49%.

After this share purchase, the shareholding ratio of Amcare held by Xiaohe Health (Hong Kong) Ltd and Xiaohe Health Technology (Beijing) Ltd is 69.53% and 30.47% respectively.

Xiaohe Health is a medical and health brand of Chinese tech giant ByteDance. It is mainly a platform for providing health knowledge and services, and in recent years has started to engage in medical technology research and development.

In January this year, Xiaohe Health announced the development of a colonoscopy AI-assisted diagnostic software, which can use AI technology to assist clinicians in detecting and identifying colorectal lesions in real time. Xiaohe Health has applied for 15 invention patents.

Established in Beijing in 2006, Amcare is a private professional women’s and children’s hospital for middle and high-end customers, providing medical services covering obstetrics, gynecology, pediatrics, assisted reproduction, postpartum rehabilitation and medical cosmetology. Up to now, Amcare has seven maternity and pediatric hospitals, two comprehensive outpatient centers and five postpartum care center.

In recent years, ByteDance has been making frequent moves in the medical field. In August 2020, ByteDance completed the wholly-owned acquisition of medical knowledge platform for a consideration of 500 million yuan($73.95 million), which marked its foray into in the field of online medical content.

As for the field outside medical content and services, in November last year, Xiaohe Heath (Hainan) Co., Ltd. a medical equipment company, was established.

This whole ownership of private medical institution Amcare is also an important initiative of ByteDance in the medical field.