Alibaba making big moves in healthcare?
Fresh off one of the most successful IPOs in history, Alibaba is now inviting all kinds of speculation into its future growth plans. One area that hasn't been discussed much publicly is the Chinese company's recent interest in healthcare IT and big data platforms.
In May 2014, Alibaba purchased a majority stake in investment holding company CITIC, which owns many health IT & pharmaceutical data tracking subsidiaries.
According to BusinessWeek, CITIC "provides medical management, health management, medicine, and elderly caring services in China. The company offers health check, insurance, medicare, health preserving, and senior care services to high-end clients from newborn babies to the elderly."
In the past, we've written about China's 4-2-1 problem, which is putting great financial strain on a new generation of young family caregivers throughout Mainland China.
In eCommerce, Alibaba has demonstrated that new untapped markets of Chinese consumers are likely to leapfrog traditional retail channels in favor of online purchasing. The same may very well hold true for home healthcare & data services, especially given the enormous need.
Interested in reading more posts from QMedic - Read our last post "Merrill Lynch study reveals Boomers see "good health" as key to happy retirement".