Terumo ac­quires China based Essen Tech

BioSpectrum (Asia) - - Supplier News -

Terumo Cor­po­ra­tion re­cently an­nounced that it has en­tered into an agree­ment to ac­quire Essen Tech­nol­ogy (Bei­jing) Co., Ltd., a Chi­nese med­i­cal de­vice com­pany. Un­der the terms of the agree­ment, Terumo will pay 879 mil­lion Chi­nese Yuan up­front and mile­stone pay­ment based on the fu­ture per­for­mance. The trans­ac­tion is aimed to close within 2018 af­ter all con­di­tions prece­dent are met. It will be funded through cash on hand and Terumo does not re­gard the im­pact of the ac­qui­si­tion on Terumo’s busi­ness per­for­mance of the fis­cal year end­ing March 31, 2019 as sig­nif­i­cant. Essen Tech­nol­ogy is a spe­cial­ized en­ter­prise of drug-elut­ing stents (DES). Terumo has grown rapidly in China sell­ing in­ter­ven­tional prod­ucts, such as guidewires and bal­loon catheters. How­ever, it has not yet of­fered coro­nary stents in that mar­ket. Terumo has ex­panded its DES sales cov­er­age to in­clude Ja­pan, Europe, Asia, and Latin Amer­ica, for a to­tal of over 40 coun­tries. This ac­qui­si­tion will add China, which is ex­pected to be­come the big­gest mar­ket in a few years, to Terumo’s ge­o­graph­i­cal DES port­fo­lio. In China, there are more than 750,000 per­cu­ta­neous coro­nary in­ter­ven­tion cases, and they are pro­jected to in­crease by over 10 per cent an­nu­ally.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.