Alibaba and Yunfeng Capital to acquire a 16% stake in Meinian Onehealth Healthcare for $1bn.

Alibaba and Jack Ma-led Yunfeng Capital agreed to acquire a 16% stake in Meinian Onehealth Healthcare, a China-based company principally engaged in the provision of physical examination and medical services, for $1bn. The investment will make Meinian become the latest domestic listed company backed by Alibaba, who has so far poured nearly $14.2bn in about 20 such companies, as the e-commerce giant is raising the stake in the burgeoning Chinese market against the backdrop of an escalating trade war between China and the United States.