Medical device producer announces M&A strategy (China Daily)
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 astrategy 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 forothers.
He refused to provide names of the potential targets.
Medtronic, the largest producer of heart pacemakers in the world, develops and manufacturesdevices 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 targetedcompanies. Li also said that the targeted companies "must have a common vision andbusiness philosophy" with Medtronic.
Medtronic is the first multinational medical device company that has publicly said it will makeM&A one of its key strategies in China.
Cai Tianzhi, director of the medical device departm...
