China’s e-commerce giant Alibaba will transfer Ali JK Nutritional products into its online healthcare subsidiary, Alibaba Health, in exchange for $1.4 billion of Ali Health stock. Ali JK Nutritional sells medical devices, health-care products, adult products, and health-care services on Alibaba’s Tmall platform. During the 12 months ending March 31, Ali JK generated $3.2 billion in sales from over 3,300 related merchants. The transaction will increase Alibaba’s stake in Ali Health from 48% to 56%.
Source: China Biotoday
