Chinese drug maker Alibaba Health has raised prices for its health information database by up to 40% to boost sales, according to people familiar with the matter.
The company, which has about 80% of its business in China, has been trying to attract overseas investors, and is now seeking additional funding, said the people, who asked not to be identified because the talks are private.
Alibaba is working on several initiatives, including a health-related online platform for its hospitals and doctors, the people said.
Alibaba said last week it plans to raise $30 billion by the end of 2021, and plans to hire as many as 200,000 employees to help it grow its business.
The health-focused platform could eventually help Alibaba gain a foothold in the health care market, according the people.
Alibaba, which reported a net loss of $12.9 billion last year, has struggled to get more foreign investors.
In May, Alibaba said it was in talks to acquire a medical-device maker, which had been trying unsuccessfully to lure investors.
Alibaba’s stock has fallen more than 30% since Alibaba announced its plans to acquire its medical-technology division.
Alibaba plans to launch a new platform to let doctors monitor patients’ health data, according one of the people who has been involved in the talks.
Alibaba will be aiming to take a cut of sales from doctors who use its information-sharing platform, which provides doctors with access to medical information, and will charge for its content, said one of those people.