Chinese Orthopaedic Implant Maker AK Medical Buys Britain’s JRI Orthopaedics For $24M (China Money Network)
Chinese orthopaedic implant company AK Medical Holdings Limited has announced the acquisition of JRI Orthopaedics Limited, a U.K. firm that designs, manufactures and supplies orthopaedic
implants and related instruments, from Orthopaedic Research UK for £16.73 million (US$23.7 million).
Upon completion, JRI Orthopaedics will become a wholly-owned subsidiary of the Hong Kong Stock Exchange-listed AK Medical, according to its security filing.
Founded in 1970 by orthopaedic surgeon Ronald Furlong, JRI Orthopaedics was the first company to produce a hip implant with a hydroxyapatite coating enabling a biological bond with the patient’s bone. Apart from hip implants, it also develops and distributes total shoulder replacement implants and a range of orthobiologics.
AK Medical, meanwhile, says it was the first medical device company to commercialize the application of 3D-printing technology in orthopaedic joint and spine replacement implants in China. It booked revenues of US$60 million, with 30% growth last year.
AK Medical said the acquisition is in line with its long-term gro...
