Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Alibaba Health Information Technology Limited (‘Alibaba Health’, HKSE: 00241) on its US$1.73bn acquisition of an exclusive operating right to provide marketing materials review services and an ancillary right to provide value-added services from Taobao Holding Limited, a direct wholly-owned subsidiary of Alibaba Group Holding Limited (‘Alibaba Group’, HKSE: 9988, NYSE: BABA).

Alibaba Health is committed to providing affordable, convenient, efficient and reliable medical and healthcare services to hundreds of millions of families. Its principal activities comprise the sale of pharmaceutical and healthcare products and services, the provision of internet-based medical and healthcare services, and digital tracking services and other innovative services. This acquisition will improve Alibaba Health’s revenue growth and profitability outlook, while allowing it to provide better services to online stores.

The Freshfields team advising on the transaction was led by partner Edward Freeman, supported by counsel Roy Chung and associate Haohan Li.