Alibaba injects $488 million health food assets into Ali Health
The deal will bring a broader set of merchants into the online healthcare community, while the company will obtain more stable and sustainable revenue growth, the Hong Kong-listed firm added.
Alibaba Health saw its adjusted net loss narrowed to 98.3 million yuan ($14.3 million) for the year ended in March, from a 161.5 million yuan loss in the year-ago period amid rapid growth of its pharmaceutical e-commerce business.
($1 = 7.7822 Hong Kong dollars)
($1 = 6.8880 Chinese yuan renminbi)