Alibaba Healthbacked LinkDoc files for U.S. IPO

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Reuters LinkDoc Technology Ltd, a medical data company backed by a subsidiary of Alibaba Health Information Technology Ltd, filed for an initial public offering in the United States on Monday.

The Beijingbased company, which offers cancerfocused healthcare services, reported a 41 jump in revenue for the three months ended March 31, according to the filing.

For the same period, net loss attributable to LinkDoc widened to 135.4 million renminbi 21.17 million from 61.6 million renminbi a year earlier.

The companys listing plans come despite the U.S. introducing measures that could result in foreign companies being delisted from American stock exchanges within three years if they do not comply with the countrys auditing standards.

LinkDoc said it will use the proceeds from the offering to strengthen its research and development capacities and for investments and acquisitions, among others.

The company will list on the Nasdaq under the symbol LDOC, it said.

Alibaba Health is the healthcare flagship platform for the Alibaba Group Holding Ltd conglomerate.

Morgan Stanley, BofA Securities and CICC are the underwriters for the proposed IPO.

1 6.3967 Chinese yuan renminbi

Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri

Source Reuters

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