Chinese video-sharing platform Douyin, which is owned by tech behemoth ByteDance, will build a tertiary hospital in Chaoyang district, Beijing, as part of its broader push to march into the healthcare sector.
The company's proposal has been approved by the Beijing Municipal Health Commission. The hospital will be located at Zhongguancun Chaoyang Park, and is a comprehensive joint venture hospital with 800 beds.
This is not the first time that Douyin and ByteDance have invested in the medical field. In 2021, Xiaohe Health Technology, the healthcare investment subsidiary of ByteDance, bought a 17.57 percent stake in Beijing Amcare Medical Management Co, one of China's largest private hospital chains specializing in obstetrics and gynaecology. ByteDance acquired the high-end hospital group in 2022.
In December 2024, Douyin established a new medical management company in Beijing with a registered capital of 734 million yuan ($100.8 million).
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