Alibaba Group Announces Strategic Integration of Online Pharmacy Business into Alibaba Health

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HANGZHOU, China--(BUSINESS WIRE)--Alibaba Group Holding Limited (NYSE: BABA) today announced that it has reached a definitive agreement with Hong Kong Stock Exchange-listed Alibaba Health Information Technology Limited (SEHK: 00241) (“Alibaba Health”) pursuant to which Alibaba Group will transfer the operations of its Tmall online pharmacy business to Alibaba Health in consideration for newly issued shares and convertible bonds of Alibaba Health (the “Transaction”). Alibaba Group currently owns

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