TikTok parent ByteDance just bought a hospital group in China

TikTok’s parent company ByteDance is making some pretty heavy bets on the healthcare space as it acquired Amcare, which runs high-end children’s and women’s hospitals across China.
The buyout cost ByteDance $1.5 billion, according to Bloomberg. A spokesperson for Xiaohe Health, ByteDance’s healthcare business, confirmed the acquisition but declined to comment on the deal size.
The transaction is turning some heads in the tech industry. For one, China has over the past few years ramped up anti-competition regulations on tech companies and blocked major consolidation deal

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