Tian­jin phar­ma­ceu­ti­cal com­pany em­pha­sizes med­i­cal wear­ables

China Daily (Canada) - - BUSINESS - By FANFEIFEI and ZHANG MIN in Tian­jin

Tian­jin Chase Sun Phar­ma­ceu­ti­cal Co Ltd, a high-tech medicine and health industry group, has ex­tended its lines of busi­ness from man­u­fac­tur­ing tra­di­tional Chi­nese medicines to mak­ing wear­able med­i­cal equip­ment.

These de­vices, such as pulse oxime­ters, sleep mon­i­tors and blood pres­sure mon­i­tors, are de­signed for fam­ily use. Wu Fen, pres­i­dent of the com­pany, said that fu­ture fo­cus will be on fur­ther de­vel­op­ing med­i­cal wear­ables.

Es­tab­lished in 1996, the com­pany’s sales rev­enue reached 4.5 bil­lion yuan ($680 mil­lion) in 2015. As of the be­gin­ning of this year, it had to­tal as­sets val­ued at 6.4 bil­lion yuan and a mar­ket value of 15 bil­lion yuan, with more than 5,400 em­ploy­ees. Sales rev­enue is ex­pected to reach 5 bil­lion yuan in 2016, up from 260 mil­lion yuan in 2009, ac­cord­ing toWu.

The com­pany’s busi­ness strat­egy fo­cuses on tech­ni­cal in­no­va­tion and con­tin­u­ing to strengthen re­search and de­vel­op­ment ca­pa­bil­i­ties.

In 2014, it im­ple­mented an eq­uity in­cen­tive plan for 70 key mem­bers en­gaged in sci­en­tific re­search, to stim­u­late their cre­ativ­ity and vigor. Ten per­cent of its an­nual sales rev­enue is used for sup­port­ing the in­no­va­tion team and for hir­ing se­nior tal­ent.

“We al­ways pay at­ten­tion to the need to mo­ti­vate tal­ent to be in­no­va­tive. We have at­tracted a batch of top tal­ent to join our com­pany through this mech­a­nism,” Wu added.

By2020, the scale of our tal­ent will dou­ble, and the core mem­bers will in­crease to 800 or 1,000,” he said.

The State Coun­cil, China’s cab­i­net, is­sued in Fe­bru­ary a guide­line on de­vel­op­ing the TCM dur­ing the pe­riod of 2016-2030. Ac­cord­ing to the plan, the out­put of the TCM industry will ac­count for 30 per­cent of the na­tion’s over­all phar­ma­ceu­ti­cal industry.

Tian­jin Chase Sun Phar­ma­ceu­ti­cals has es­tab­lished industry clus­ters in a num­ber of fields, in­clud­ing raw ma­te­ri­als pro­duc­tion, Chi­nese herbal medicine plant­ing, mod­ern­ized TCM prepa­ra­tion, TCM for­mula gran­ules, syn­thetic drugs, med­i­cal apparatus, wear­able med­i­cal prod­ucts, and in­ter­net-based ther­apy.

More­over, since the com­pany was listed on the Shen­zhen Stock Ex­change in 2009, it has stepped up the pace of merg­ers and ac­qui­si­tions to en­ter into more fields.

It has ac­quired and re­or­ga­nized 28 en­ter­prises by a va­ri­ety of fi­nanc­ing meth­ods.

For in­stance, in 2012 it pur­chased Bei­jingTc­mages Phar­ma­ceu­ti­cal Co. Ltd., which spe­cial­izes in re­search and pro­duc­tion ofTCMherbal gran­ules.

Last year, it bought Bei­jingChoice Elec­tronic Tech Co Ltd, a med­i­cal mon­i­tor­ing equip­ment man­u­fac­turer, for 1.57 bil­lion yuan, to tap into the wear­able med­i­cal equip­ment field.

Con­tact the writ­ers at fanfeifei@chi­nadaily.com.cn and zhang­min@chi­nadaily.com.cn

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