DXY to Receive US$70 Million from Tencent

Tencent has invested US$70 million in DXY (also known as Ting Ting Group), which claims to be China's largest online healthcare service provider. Tencent will receive a minority equity stake in exchange for its investment.DXY said it plans to invest the capital into developing healthcare products for doctors, pharmaceutical companies and consumers. DXY will also work with Tencent on a series of initiatives to bring its services to Tencent's various platforms, including exploring possible services to integrate into Weixin and Mobile QQ. DXY has unique medical resources and the largest network of doctors in China. Its team is made up of medical and life science professionals with deep expertise and solid understanding of the healthcare sector in China.DXY's products including the Family Medicine App and DXY Doctor have accumulated millions of users even without spending on marketing.DXY added it plans to launch products in three categories -- Weixin-based products, mobile apps, and Web-based products -- to continue to provide reliable medical and healthcare information and services to consumers.Martin Lau, president of Tencent, said DXY, with its rich pool of over two million professional doctors, is an industry leader in the healthcare industry.