AliHealth Invests $34M In Medical Imaging Services Company Wlycloud

Chinese internet giant Alibaba is taking a step further towards their goal of disrupting China’s medical industry.

AliHealth, Alibaba’s Hong Kong-listed health affiliate, has invested 225 million RMB (around 34.56 million USD) in Wlycloud, the telemedicine imaging subsidiary of China Resources Wandong Medical Equipment Co., Ltd.

Upon completion of this deal, China Resources retains a controlling 75% stake in the company, while AliHealth holds a 25% stake and nomination rights for two out of the five board members.

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