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Tencent buys into DXY.cn to enter healthcare services industry

By Ding Yining | September 2, 2014, Tuesday | Online Edition

TENCENT, China’s largest Internet group by market value, said today it has made a US$70 million investment in online pharmaceutical and healthcare website DXY.cn. It was the first time that Tencent made presence in the healthcare management sector.

DXY, which is initially an online forum for industry insiders and pharmaceutical companies, said it aims at serving the mass consumer apart from doctors and pharmaceutical industry professionals.

DXY will use the capital to develop software and services for healthcare specialists to provide them with industry information and at the same time offer general consumers with basic healthcare knowledge.

Tencent, which operates the massive popular smartphone chatting tool WeChat, hopes to combine DXY’s industry expertise to serve its more than 600 million active WeChat users.

Furthermore, DXY hopes to better connect doctors and medical practitioners with patients through Tencent’s mobile Internet platforms including WeChat and mobile QQ.

“We hope to combine medical data and expertise with hundreds and millions of users and this will make health-related knowledge more easily accessible to ordinary Internet users,” Tencent president Martin Lau said in a statement.

Founders and executive teams at DXY will remain controlling shareholders after the completion of the investment.

Internet companies have been seeking opportunities to combine their capabilities with industry resources and woo more users.

Alibaba’s payment arm Alipay has offered users medical bills payment and registration services at nine hospitals in the country to fasten its pace of expansion into the offline sectors besides e-commerce.

BusinessIT


 

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