Alibaba Health Buys Parent’s Health Food Assets for $488.3M
Alibaba Health is buying controlling shareholder Alibaba group's health food and nutritional products businesses for HK$3.8 billion ($488.3 million), further developing it into Alibaba's healthcare flagship platform.
Alibaba Health will buy Ali JK Nutritional Products Ltd from Alibaba Group in a deal to be settled by the issue of 1.19 billion shares at HK$3.2 apiece, or a 6.16% discount to the last close, the company said in a filing to Hong Kong stock exchange.
The deal will bring a broader set of merchants into the online healthcare community, while the company will obtain more stable and sustainable revenue growth, the Hong Kong-listed firm added.
Alibaba Health saw its adjusted net loss narrowed to 98.3 million yuan ($14.3 million) for the year ended in March, from a 161.5 mil...