JD.com, a Chinese e-commerce company, is securing over $1 billion in funding for its healthcare subsidiary, JD Health.
As part of the financing deal, JD.com entered into definitive agreements to offer non-redeemable Series A preferred shares, representing over 14.5 percent of its equity interest in JD Health on a fully diluted basis.
JD.com is raising the new funds from investors including CPEChina Fund, CICC Capital and Baring Private Equity Asia.
JD Health intends to use the new capital to further extend its core business, attract industry talent and explore new initiatives in the broader healthcare sector.