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Mindray to Acquire Chinese Medical Device Company APT Medical

By HospiMedica International staff writers
Posted on 05 Feb 2024
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Image: Mindray has planned a USD 927 million deal to control APT Medical (Photo courtesy of Mindray)
Image: Mindray has planned a USD 927 million deal to control APT Medical (Photo courtesy of Mindray)

A recent comprehensive industry analysis has shown that the global cardiovascular market has achieved a valuation of USD 56 billion. Notably, the Chinese segment of this market has surpassed USD 6.96 billion, positioning it as the second largest domestically in the medical device sector, trailing only behind the in-vitro diagnostics area. This growth is particularly pronounced against the backdrop of an aging population, with the cardiovascular market expanding at a significantly faster pace than other medical fields. In a strategic move within this context, Mindray (Shenzhen, China) has announced its intention to acquire control of APT Medical (Shenzhen, China), a medical device company. APT Medical has long specialized in the cardiovascular domain, securing a leading position in specialized areas such as cardiac electrophysiology, coronary artery access, peripheral vascular intervention, and more. The company's strengths lie in its comprehensive capabilities, extending from raw material sourcing to the development and supply chain management of consumable products, making it a prominent player in China’s cardiovascular market.

The acquisition aims to merge the extensive expertise of both Mindray and APT Medical in medical equipment and consumables, resulting in the combined offering "Mindray Equipment and APT Medical Consumables." Mindray's strong capabilities in product engineering and system integration are expected to further improve the performance of APT Medical's offerings. Moreover, Mindray's well-established global sales and service network, coupled with its diverse customer base, will enable APT Medical's innovative products to access a wider international market. The synergies and cost-efficiencies arising from this partnership are anticipated to be key drivers for both companies to make a substantial impact on the global market. The integration of resources of both companies also has the potential to create a new industry leader, opening doors to fresh market opportunities in the cardiovascular field.

Mindray will acquire control of APT Medical using its own funds of USD 927 million using a combination of share transfer by agreement and waiver of voting rights. If the entire acquisition plan proceeds as planned, Mindray, through its subsidiary Shenzhen Mindray Scientific Holdings Co., Ltd. and its partner acting in concert, Zhuhai Tongsheng, will collectively hold approximately 16.46 million shares of APT Medical. This will account for 24.61% of APT Medical's total equity, making Mindray the company’s largest controlling shareholder.

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