Alibaba Founder Jack Ma Bets $32 Million on Chinese Med Device Maker

Alibaba Group Holding founder Jack Ma is making further bets on China’s healthcare sector.

Yunfeng Capital, a private fund co-founded by Ma, and other investors will pump 880 million yuan ($142million) in China Resources Wandong Medical Equipment, a Beijing-based manufacturer of medical imaging devices. Yunfeng has agreed to spend 200 million yuan ($32 million) to subscribe 5.7 million shares for a 2.35% stake through a private placement, according to a June 5 company filing.

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