Blackstone buys stake in Chinese implant maker

The US private equity firm has invested in China’s fast-growing medical device sector, buying a stake Jiangsu-based Xinrong.

Blackstone has agreed to make a significant investment into Xinrong Best Medical Instrument, a Chinese maker of orthopaedic implants for trauma, spine and joint applications.

The companies did not state the value of the deal nor the ownership split, however a person familiar with the matter said Blackstone is investing just over $100 million and would have influence over decision-making at the company.

China’s orthopaedic implant market will grow from $1.3 billion in 2013 to $4.1 billion in 2020, driven by an ageing population, increasing disease, improving treatment rate and growing affordability, according to Boston Consulting Group.

The Chinese government reimburses about 70% of...

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