E-commerce group Alibaba, has agreed to invest RMB225m ($34.5m) in China-based medical imaging technology developer Wanliyun Medical Information Technology, according to a securities filing yesterday.
Alibaba, which invested through its Alibaba Health Information Technology subsidiary, will take a 25% stake in Wanliyun, a subsidiary of medical device manufacturer China Resources Wandong Medical Equipment.
Wanilyun supplies medical imaging technology centred on big data cloud platforms and cloud storage services, as well as the formation of remote medical imaging service centres.
Alibaba Health Technology and Wanilyun will form a partnership through the agreement, which Alibaba hopes will aid it in a bid to build a business centred on using cloud computing platforms to provide remote medical imaging services.
Alibaba will be given the right to elect two directors to a board that will also have three representatives from Wandong Medical. Wandong will nominate a manager for Wanlyun with a supervisor to be jointly nominated by the two shareholders.