Ali Health Partners Pharmacy Chain to Build Online Medical Service Platform
Tang Shihua
/SOURCE : Yicai
Ali Health Partners Pharmacy Chain to Build Online Medical Service Platform

(Yicai Global) Aug. 29 -- Two Alibaba Health Information Technology Ltd. [HKG:0241] affiliates will work with Yunnan Hongxiang Yixintang Pharmaceutical Co. [SHE:002727], which runs a chain of retail pharmacies, to build an online medical service platform in southwestern Yunnan province.

The two Ali Health affiliates will pump CNY12 million CNY6 million into the joint venture for a 40 percent and 20 percent stake, while Yunnan Hongxiang will invest CNY12 million for the remainder, the pair said in separate statements on Aug. 29.

Yunnan has unveiled a number of medical reform policies this year to provide more market space for drug retailers in the province and deliver new development opportunities for firms looking to develop online service channels to distribute medicines.

Ali Health is the online health service run by Chinese e-commerce giant Alibaba Group Holding Ltd. [NYSE:BABA].

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Keywords: Alibaba , Joint Venture , E-COMMERCE , Medicine , Yunnan