Alibaba Health
| Company type | Public |
|---|---|
| Industry | Digital health, Healthcare software |
| Predecessor | CITIC 21CN |
| Founded | 2014 |
| Headquarters | China |
Area served | China |
| Parent | Alibaba Group |
Alibaba Health (also known as AliHealth; ) is a Hong Kong-listed Chinese enterprise focused on digital health solutions. It functions as the healthcare division within the Alibaba Group.
History
The origins of the company trace back to Shui Hing, a retail business based in Hong Kong that was publicly traded on the Hong Kong Stock Exchange starting in 1971. In 1998, Shui Hing was acquired by Easyknit International Holdings and subsequently renamed Easy Concepts. Two years later, in 2000, CITIC Group purchased Easy Concepts and rebranded it as CITIC 21CN.
In January 2014, Alibaba together with Yunfeng Capital secured a majority interest in CITIC 21CN for US$170 million, intending to utilize its pharmaceutical data platform as a foundation for expanding into the healthcare sector. Following this acquisition, CITIC 21CN was rebranded as Alibaba Health.
Alibaba intended in 2015 to shift its online pharmacy services from Tmall to AliHealth through a transaction involving newly issued shares and convertible bonds valued at US$2.5 billion; however, this arrangement did not materialize due to regulatory challenges. Later, in May 2018, Alibaba transferred multiple healthcare product categories from Tmall to AliHealth in a deal worth US$1.35 billion.
To enhance earnings and secure consistent cash flow streams, AliHealth made strategic investments in offline healthcare entities such as Guizhou Ensure, ShuYu Civilian Pharmacy Corporation, and Huaren Health during 2018.
Amid the COVID-19 pandemic, AliHealth experienced a significant increase in revenue driven by direct sales, which allowed the company to achieve profitability for the first time after several years of losses.
In November 2023, AliHealth announced its acquisition of AJK Technology Holding Ltd from Taobao for US$1.73 billion. This purchase provided access to Alibaba’s marketing resources aimed at boosting profitability.