TikTok parent ByteDance acquires private hospital chain
Summary
Amcare Healthcare was founded in Beijing in 2006 and it offers medical services like maternity care, womens health and pediatrics. The company didnt immediately explain why its expanding into healthcare. But its a trend in the tech sector as companies try to find new ways to serve customers. Amazon announced in July that it is acquiring One Medical for roughly $3.9 billion. Its Health app can store medical records if a patient visits a healthcare provider that supports the system, for example, and CEO Tim Cook once remarked the companys "greatest contribution to mankind" will be "about health."
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$1B+