- Fosun and Babytree set up joint venture, marking a new milestone of partnership
- Release Time: May 15, 2018
On May 15, 2018, Fosun announced that it had entered into a strategic agreement with Babytree to set up a joint venture – Shanghai SunBao Intelligent Health Technology Co., Ltd.* The new JV will enable both parties to form a closer and deeper partnership and create a new platform dedicated to families together.
The agreement was signed by Fosun Healthcare Holdings, Fosun Pharma, Wanbang Cloud Health as one party and Babytree as the other party. The new JV is established to combine Babytree’s insights into user need and its service experience in the mom & baby consumption field with Fosun’s long-term focus on and presence in the healthcare sector. Its vision is to better meet the demand of Chinese young families for parenting knowledge and service amidst the ongoing consumption upgrade.
Given the demographic dividend brought by the new two-child policy in China, and the fact that the post-80s and 90s have become the major consumers of mom & baby products and services, the JV will capture the new opportunity to explore this massive and diversified market with huge potential for innovation, and build a new brand that understand user need and focus on quality.
It is worth mentioning that Fosun’s announcement of this strategic partnership with Babytree coincides with the International Day of Families on May 15. Over the past two decades, Fosun has been committed to serving family customers in health, happiness and wealth, and creating a happiness ecosystem for global families. With the mission of bringing a happy life to 1 billion families in the world, Fosun’s youlè platform also officially launched the Youlè Family Day to provide Babytree users with popular quality products of Fosun and its member companies, and carry out a number of family-friendly activities together with Babytree.
In the face of Chinese families’ demand for consumption upgrade, Fosun joins hands with Babytree, the most influential player in China’s mom & baby industry, to identify the core needs of these families and integrate superior resources of both sides, in an effort to keep creating more value for more families.
Since 2016, Babytree and Fosun have been working together in investment, C2M, mega health and other areas. For example, many specialized medical resources of Fosun have been channeled to Babytree’s business of payment for health knowledge + medical service (including health lecture, experts’ answer and ask the doctors, etc.), which is a key unit greatly promoted by Babytree in recent years. The new JV will focus more on the healthcare sector. As a gateway to happiness and health for Chinese young families in the era of upgraded consumption, Babytree will further integrate Fosun’s healthcare resources across the world to create a one-stop healthcare O2O system for a wide range of Chinese families.
* Note: Shanghai SunBao Intelligent Health Technology Co., Ltd. is a tentative name, subject to final approval by the registration authorities.