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39.net Acquires Xunlei Health Channel
China Business News, 1/09/08
Co-president of online healthcare portal 39.net, Qin Gang, has announced that his company has just completed the purchase of Xunlei's desktop news "Health Channel" for more than RMB 3 mln. 39.net will also complete the acquisition of another major health channel after the Chinese New Year. 39.net has already begun preparatory work for a stock market listing and employee stock option plan.
Last year 39.net's turnover reached RMB 30 mln and this year it is expected to double. Over RMB 40 mln will be used towards adding website content this year. 39.net has already built databases covering hospitals and doctors and will set up more for medicine, health care products, and health-related events. Original content will also be added, articles will be solicited from professionals, and the latest news and information from abroad will be translated.
Keywords: 39.net, Qin Gang, Xunlei, online healthcare, vertical portal, M&A, IPO, stock option, Internet
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