China Medical Device Market Development: Hebron and BioPromin Form $50m JV

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China Medical Device Market Development: Hebron and BioPromin Form $50m JV

 

China Medical Device Market News: China-based Hebron Technology Co Ltd and Ukrainian firm Research and Product Complex BioPromin Ltd (BioPromin) are investing up to $50 million for a joint venture that will develop, manufacture, and market BioPromin’s proprietary non-invasive blood analyzer products in China.

Established in January 2005, Hebron engages in research, development, and manufacturing of highly specialized valves and pipe fitting products for use in the pharmaceutical, biological, food and beverage, and other clean industries.

Under the framework cooperation agreement signed by both parties, the JV will have a registered capital of $5 million and total investment of up to $50 million. The JV will be based in Konggang New Area, Longgang District, Wenzhou City, Zhejiang Province, where Hebron’s headquarters is located.

The formation of the JV is subject to the two parties signing a final definitive agreement, regulatory approvals and other customary closing conditions.

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