Esaote, Italian-based medical equipment company with a focus on ultrasound, magnetic resonance imaging and diagnostic management software, was acquired by consortium of fund from China for total 232.1 million Euro Dollar (18 billion RMB).
The acquiring consortium consists of couple key Chinese medical equipment manufacturers and private equity – Chinese medical equipment makers: Wandong, Yuyue and Kangda and private equity Yufeng capital, Chinese free trade zone fund Shanghai FTZ fund, Investment group Tianyi.
It will be a win-win acquisition since Esaote could benefit from existing distribution channel, which Wandong and Yuyue have already built, to increase the Chinese market share, meanwhile, Chinese company could utilize Esaote’s world-class R&D expertise, powerful global branding, and existing international distribution channel to drive more China-made medical equipment into international market.
Esaite has its ultrasound group known as Biosound. Biosound has been a significant player in the China ultrasound segment, next to GE, Philips and Siemens in the past. WanDong has been an established imaging equipment manufacturer but lacks the mid to high range imaging technology in MRI and ultrasound. This acquisition will allow WanDong to have more cost-effective performance product lines in China market.
About China Med Device, LLC
China Med Device, LLC provides turn-key solutions for western medical device/IVD companies to enter China with regulation and commercialization services. Our CFDA regulatory services cover strategy, premarket submission, clinical evaluation, CRO, post market compliance as well as legal agent representation. Our commercial services cover market assessment research, reimbursement, partnership, distribution qualification and management. We have an office in Beijing, Suzhou and Boston. Our management team have 100+ years of combined experience in medical device and IVD and had been involved with 1,000+ CFDA certificates, 200+ western companies’ entry.