Ant Financial Buys Into Health Info Platform to Offer Alipay

Ant Financial Buys Into Health Info Platform to Offer Alipay

Tang Shihua

Date: Tue, 06/19/2018 - 18:37 / source:Yicai
Ant Financial Buys Into Health Info Platform to Offer Alipay
Ant Financial Buys Into Health Info Platform to Offer Alipay

(Yicai Global) June 19 -- A unit of Ant Financial Services Group plans to take a minority stake in Winning Health Technology Group to bring fintech such as its Alipay mobile payment platform to the healthcare and medical solutions provider.

Shanghai Yunxin Venture Capital Management will take a 5.05 percent stake in Winning Health for CNY10.58 billion (USD1.6 billion), Winning Health said in a statement. The deal will not change the Shanghai-based company’s actual controller, it added.

The CNY12.95 (USD2) a share offer represents a 7.2 percent premium on Winning Health’s closing price today after the stock [SHE:300253] slumped by its daily trading limit, falling almost 10 percent to CNY12.08 amid a wider stock market slump.

The pair will use Hangzhou-based Ant Financial’s capabilities such as blockchain, financial cloud, credit certification, and smart customer service to form an 'Internet + health care' ecosystem within Winning Health’s platform.

An affiliate of e-commerce giant Alibaba, Ant Financial has lately partnered and invested in a slew of medical services and financial software firms such as B-Soft, Hoperun Software, and Global Infotech.

Editor: Emmi Laine

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Keywords: investment, Business Partnership, Alibaba, ANT FINANCIAL, Alipay, Fintech, Financial Cloud, Winning Health Technology Group, Internet + Health Care, Biotech