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...
¬ Haymarket Media Limited. All rights reserved.
