TikTok parent ByteDance buys Chinese hospital chain for $1.5B: report
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ByteDance (BDNCE), the parent company of global phenomenon TikTok, has purchased Amcare, a chain of children's and women's hospitals in China, for $1.5B, according to Bloomberg.
The news of the acquisition was first reported by the South China Morning Post last week, but Bloomberg added that the deal was valued at $1.5B and that two of ByteDance's (BDNCE) subsidiaries now own 100% of Amcare.

The news comes days after Amazon (AMZN) announced its intention to buy One Medical (ONEM), an operator of a membership-based primary care platform for nearly $3.9B.
Seeking Alpha recently reported that the Federal Trade Commission appears unlikely to challenge the Amazon (AMZN) One Medical (ONEM) deal due to the lack of overlaps between the businesses.
Instagram (META) chief Adam Mosseri is relocating to London in part to fight off the threat from ByteDance's TikTok.