Tuesday, 20 November 2012

Medtronic acquires China Kanghui for $775 million


Medical equipment company Medtronic Inc has completed its $755 million acquisition of Jiangsu-based China Kanghui Holdings, a Chinese provider of orthopedic devices.
Chris O'Connell, executive vice-president and president of Medtronic's Restorative Therapies Group, said that China is one of the fastest-growing medical device markets with significant scale opportunities.
"Medtronic will establish a bigger and more direct local presence. Kanghui brings Medtronic a broad product portfolio, a strong local research and development and manufacturing operation, a vast China distribution network and an exceptional management team," he said.
Kanghui brings a strong product portfolio and new products pipeline in trauma, spine and joint reconstruction.

Read more: China Daily

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