Alibaba to inject pharmacy assets in health unit for $1.3 bn
Alibaba has announced that it will sell several healthcare units on Tmall to healthcare subsidiary Alibaba Health Information Technology. In exchange, Alibaba will receive over $1.3 billion newly issued shares of Alibaba Health and increase its equity stake to 56.2%. The deal will enable the firm "to create the best healthcare ecosystem in China", Alibaba Group's CEO Daniel Zhang said. 