- ByteDance ( BDNCE ), the parent company of global phenomenon TikTok, has purchased Amcare, a chain of children's and women's hospitals in China, for $1.5B, according to Bloomberg .
- The news of the acquisition was first reported by the South China Morning Post last week, but Bloomberg added that the deal was valued at $1.5B and that two of ByteDance's ( BDNCE ) subsidiaries now own 100% of Amcare.
- The news comes days after Amazon ( AMZN ) announced its intention to buy One Medical ( ONEM ), an operator of a membership-based primary care platform for nearly $3.9B.
- Seeking Alpha recently reported that the Federal Trade Commission appears unlikely to challenged the Amazon ( AMZN ) One Medical ( ONEM ) deal due to the lack of overlaps between the businesses.
- Instagram ( META ) chief Adam Mosseri is relocating to London in part to fight off the threat from ByteDance's TikTok .
For further details see:
TikTok parent ByteDance buys Chinese hospital chain for $1.5B: report