An Alibaba Group-owned health company has announced a three-year strategic partnership with medical technology firm Shanghai Kingsoft Winning Software to collaborate on providing “cloud” medical services, drug tracking and electronic prescriptions, and medical payment platforms.
The Hong Kong-listed Alibaba Health Information Technology will team up with the Shenzhen-listed company whose core business lies in software solutions for the medical and healthcare industry.
The two will cooperate “in the areas of medical services, healthcare services, pharmaceutical drugs circulation and regulation as well as medical insurance risk control and work together towards the creation of an integrated online and offline healthcare services business and ecosystem,” a statement Tuesday morning posted to the stock exchange said.
That includes establishing “cloud” hospitals which would allow doctors to practise at multiple sites and hospitals, consolidate payment platforms to improve their market position, electronic prescriptions, drug identification and tracking services. It would also host medical and healthcare service application systems on Alibaba Cloud.
The agreement will last three years and has an option to extend for a further three if there are no objections.
“Both parties intend to actively explore cooperation in other related areas or businesses,” the statement said.
The announcement stated parties have the right to form closer cooperation with each other including but not limited to capital cooperation. Each party is obliged to notify the other party in developing any healthcare services business opportunities and give them first consideration.