Ant in Talks to Buy Online Healthcare Platform HaoDF

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Registered as Beijing HaoDF Online Network Co. Ltd., HaoDF was founded in 2006 as one of China's first online healthcare service providers

Ant Group Co. Ltd., the fintech giant backed by Alibaba Group Holding Ltd., is in talks to buy Haodf.com, a Chinese platform that provides online consultations with doctors, sources close to the matter told Caixin.

The deal under discussion is seen as part of Ant’s effort to deepen its foray into the online healthcare businesses. Ant’s payment platform Alipay has integrated HaoDF’s services into the healthcare section on its app, Caixin learned.

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Ant Group is negotiating to acquire Haodf.com, a leading Chinese online healthcare platform.
Haodf, which experienced significant funding and growth between 2014 and 2017, faced setbacks and workforce reductions by the end of 2022.
Ant Group aims to expand its online healthcare services, already integrating Haodf with Alipay and maintaining partnerships with platforms like WeDoctor.

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Who’s Who

Ant Group Co. Ltd.: Ant Group Co. Ltd., backed by Alibaba, is a fintech giant expanding into online healthcare. It integrates Haodf.com’s services via Alipay and is in talks to buy Haodf. Ant has pursued healthcare since 2014, leveraging Alipay for streamlined medical services. Faced with revenue pressures and regulatory challenges, it reported a 10% profit fall in the March quarter.

Beijing HaoDF Online Network Co. Ltd.: Beijing HaoDF Online Network Co. Ltd., founded in 2006, is one of China's first online healthcare service providers. It initially offered medical information and outpatient inquiries but expanded to include online appointment booking and consultations by 2014. The company faced setbacks due to market downturns and had to reduce its workforce significantly by 2022. Haodf raised $260 million in funding over multiple rounds and collaborated with the Yinchuan government in digitalizing hospital systems.

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What Happened When

2006：: Haodf was founded as one of China's first online healthcare service providers.

2014：: The rise of mobile internet caused a boom in web-based healthcare, leading Haodf to expand its services.

Between 2014 and 2016：: Haodf raised $60 million in funding and partnered with the Yinchuan government to digitalize the city's hospital system.

2017：: Haodf.com completed another funding round, raising $200 million and working with 490,000 doctors from 7,500 accredited hospitals nationwide.

By the end of 2022：: Haodf restructured its business and reduced its workforce from about 500 employees to fewer than 80 after three rounds of cuts.