Alibaba and YF Capital Agree to Invest USD1 Billion in Meinian Onehealth
Posted On: 28 Oct 2019 | Source(s): DealStreetAsia | Author(s): Eudora Wang
China-based e-commerce company Alibaba Group and China-focused private equity firm YF Capital have agreed to acquire a 16.2 percent stake in Meinian Onehealth, a listed China-based medical examination center operator, for CNY7.3 billion (approximately USD1 billion). YF Capital will invest CNY2.44 billion (USD345 million) of the total for a 5.34 percent stake in Meinian. Following the close of the transaction, Alibaba and YF Capital will assist the company in enhancing its digital intelligence and building out its technology platform, as well as provide support for its long-term development.