JD.com to spin off online health platform in HK

According to Reuters IFR, JD.com (9618) is planning to spin off its online medical consulting e-commerce platform for pharmaceutical products platform, JD Health, to list in Hong Kong, raising at least US$1 billion (HK$7.8 billion).

JD.com has spin-off JD health May last year for sole operation. This the third largest strategic sole business following JD Logistics.

Aiming to cultivate unicorns of medical enterprises, the business scope covers medical e-commerce, online medical treatment, smart hospital solutions, health services, etc.

According to reports, JD Health completed a US$931 million ( HK$7.26 billion) series A financing last year. Investors include CPEChina Fund, China Capital Investment, and Baring Asia, etc., with a valuation of US$7 billion.

Alibaba (9988) and Ping An Insurance (2318) spun off their medical business to list in Hong Kong respectively. They are Alibaba Health Infomation Technology (0241) and Ping An Healthcare and Technolgy (1833).