News Snapshot:
TikTok’s parent company ByteDance has acquired one of China’s largest private hospital chains Amcare Healthcare for $1.5 billion, reported Bloomberg. According to a source close to the development, the deal for the full ownership of Amcare, which operates several women’s and children’s hospital in cities from Beijing to Shenzhen, was finalised for 10 billion yuan. Two ByteDance subsidiaries now own a combined 100 per cent of the hospital chain. Founded in 2006, Amcare runs eight hospitals across four cities in China. The company obtained a government licence for in-vitro fertilization operations by acquiring a hospital in Beijing in 2020. Amcare’s...
