Alibaba will sell a number of its Tmall Pharmacy units to Alibaba Health Information Technology
Chinese juggernaut Alibaba Group Holding Ltd has announced its decision to sell a number of its online pharmacy business units in a new $1.35bn deal. Through the sale, Alibaba will gain up to HK$10.6bn in newly issued shares of Hong-Kong listed Alibaba Health, Alizila has reported.
Units which will move to the digital health subsidiary Alibaba Health from the company’s B2C platform Tmall Pharmacy will consist of a multitude of healthcare products and services, as well as medical devices, making this division its core healthcare arm.
“Healthcare is a strategically important area for Alibaba Group with strong growth potential. This transaction is a logical evolution for the continued development of Alibaba Health into our healthcare flagship platform,” explained Alibaba Group CEO Daniel Zhang.
“Alibaba Health’s knowledge and network, in combination with Alibaba Group’s consumer insights and technology, will enable us to create the best healthcare ecosystem in China.”
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With rivals such as WeDoctor and Ping An Healthcare dominating recent headlines, it was only a matter of time before Alibaba followed suit to gain an edge over such a competitive market, cater towards ongoing consumer trends and support vendors to provide exceptional patient care across the industry.
“Alibaba Group has been very supportive to the development of Alibaba Health as the group’s flagship platform in the healthcare sector,” noted Alibaba Health CEO Leo Shen.
“The transaction strengthens Alibaba Health’s market leadership and recognises our contribution to the healthcare industry in China. It will allow us to expand our business by adding more complementary categories and enabling us to have deeper engagement with more participants.”
Upon completion, Alibaba will see its equity ownership and voting interest in Alibaba Health rise to 56.2% and 67.5% respectively.
Jvion launches AI-powered map to tackle mental health crisis
Clinical AI company Jvion has launched an interactive map of the US that highlights areas that are most vulnerable to poor mental health.
The Behavioral Health Vulnerability Map uses Jvion's AI CORE™ software to analyse public data on social determinants of health (SDOH) and determine the vulnerability of every US Census block group.
Vulnerability refers to the likelihood that residents will experience issues like self-harm, suicide attempts or overdoses. The map also identifies the most influential social determinants in each region, to show the social and environmental conditions that contribute to mental illness.
As an example, the map shows that Harrison County in Mississippi has a 50% higher suicide rate than the rest of the state. It also shows a high percentage of individuals in the armed forces at a time when active duty suicides are at a six-year high, along with a high prevalence of coronary artery disease, arthritis, and COPD, all chronic illnesses that are linked to a higher suicide risk.
The map also shows Harrison County has a high percentage of Vietnamese Americans, who studies suggest have high rates of depression and may be less likely to seek help from mental health professionals.
The map was built using the same data and analytics that Jvion used to create the COVID Community Vulnerability Map, which was launched towards the start of the pandemic.
With this new map, Jvion is aiming to tackle the growing mental health crisis in the US. “At a time when so many Americans are struggling with their mental health, we’re proud to offer a tool that can help direct treatment resources to the communities that need it most,” said Dr John Showalter, MD, Jvion’s chief product officer, who led the development of the map.
“For too long, the healthcare industry has struggled to address social determinants of health, particularly in the context of behavioural health. Our hope is that by surfacing the social and environmental vulnerabilities of America’s communities, we can better coordinate our response to the underlying conditions that impact the health and wellbeing of people everywhere.”