ByteDance’s Xiaohe Health has acquired Amcare Healthcare, a high-end healthcare provider, for $1.5 billion. Amcare Healthcare, founded in 2006, offers pediatrics and maternal services under their main brand, Amcare Women’s and Children’s Hospital. Though the spokesperson for Xiaohe has confirmed the purchase, the purpose of this acquisition is unknown. However, the trend of entering the healthcare sector is skyrocketing with retailers and tech giants coming forward with such purchases. Amazon, for instance, is to acquire One Medical, while Apple has expanded its services by introducing its Health app.
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