Latest Alibaba news unveiled that the Tmall Company is going to be integrated in Alibaba Health Information Technology organization which is Hong Kong Stock Exchange-listed. This had been concluded after a definitive agreement had been reached by the two companies.
Tmall is an online pharmacy business which is an independent B2C organization under Alibaba.
Alibaba news reports that the agreement also includes the fact that Alibaba Health will become a joined subsidiary of the e-commerce giant in China. The current stake owned by the Alibaba Group in Alibaba Health is 38 percent, however the agreement and this move specifically is expected to raise this stake to 53 percent approximately.
The e-commerce giant expressed that Alibaba Health will have the responsibility for operating and managing the operations of Tmall business. This move could likely be due to the urge of growing Tmall in the right way.
The Chief Operating Officer of the Chinese e-commerce giant, Daniel Zhang said that the company will become strengthened with this move where the Alibaba Health has been integrated with online pharmacy business and will give a chance for it to create and initialize better healthcare strategies within e-commerce. That also includes initiating the steps in the market of drugs with online prescription.
Furthermore, the Chief Operating Officer expressed that the strategy regarding Healthcare will be an essential growth area as per the strategic approach for the ecosystem. The approach is futuristic and the company is confident regarding the competitive advantage that it has in that area.
Also, he articulated that Healthcare is a sector which is very important to the consumers belonging to China. The company expects that such incorporation will make it capable of building such healthcare ecosystem in the country that will be able to utilize big data, e-commerce and other relative technologies in order to improve the supply chain regarding healthcare. It will also provide end users with a better experience when it comes to healthcare.
According to the sources, Alibaba Health is already in a process of testing an app that will provide the ability to customers for filling the prescriptions quickly. Only by posting the picture of the prescription, they will be able to check whether the uploaded prescription is available in the pharmacies nearby and also the prices accordingly.
The e-commerce giant has an eye on multiple other healthcare opportunities that might be a greater option for monetizing the business and growing. The financial payment arm of the group, Alipay is planning to shorten the appointment time to maximum by proving the ability to users to book the appointments at the hospitals that have been selected through an app.