Medical device producer announces M&A strategy
Updated: 2012-08-11 01:59
By Liu Jie ( China Daily)
Comments(0) Print Mail Large Medium Small
Medtronic Inc plans to bolster its presence in China via mergers and acquisitions of local companies, becoming the first multinational medical equipment provider to announce such a strategy in the world's fastest-growing medical device market.
Simon Li, vice-president of the US-based company and president of Medtronic Greater China, said that the medical device producer already has some candidates and is still looking for others.
He refused to provide names of the potential targets.
Medtronic, the largest producer of heart pacemakers in the world, develops and manufactures devices and therapies for more than 30 chronic diseases, including cardiovascular illnesses, Parkinson's disease, diabetes, chronic pain and osteoarthropathy.
Medtronic is assessing the market potential of the products and technologies of the targeted companies. Li also said that the targeted companies "must have a common vision and business philosophy" with Medtronic.
Medtronic is the first multinational medical device company that has publicly said it will make M&A one of its key strategies in China.
Did you smell the approval of DC Bead? That's the only reason for the new Boad member addition. SCLN needs help from Medtronic for DC Bead's market and Medtronic needs more products. Perfect match! GLTA! Vincent