• By lukez
• In
• Posted May 27 , 2018

2017 Chinese Healthcare Investment in the UK and Europe

JANUARY 

1. Bloomage BioTechnology Acquired a French Skincare Company Revitacare

In Jan 2017, Bloomage BioTechology announced that it would acquire Revitacare, a French skincare company, for approximately HK$203 million (£22 million).

【Deal details】

(1) Buyer: Bloomage BioTechnology

(2) Seller: Revitacare

(3) Payment methods: undisclosed

(4) Motivation: Revitacare mainly focuses on the development and sales of dermatology products including skin repair category and hair products. Bloomage BioTechnology believes that this acquisition can enrich its product portfolios and expand to international markets more through the high-end image of “Made in France”.

【Buyer introduction】Bloomage BioTechnology

(1) Year of establishment: 2006

(2) Location: Shandong, China

(3) Number of employees: N/A

(4) Stock market: Bloomage BioTechnology (HK 00963) privatised and delisted in November 2017.

(5) CEO: Xuekun Jin

(6) Company brief: Bloomage BioTechnology was listed on the HKEx in 2008 and mainly engages in the production and sales of various hyaluronic acid (HA for short) products. Its own developed products mainly include injection-use sodium hyaluronate gel, HA medical skincare products, medical HA gel and injections for joint cavities etc. In addition, Bloomage BioTechnology has cooperated with Laboratories Vivacy SAS, (a HA injection-filler manufacturer), Medytox Inc. (the famous Korean botulinum toxin manufacturer) and Syneron Medical Ltd (a well-known Israeli medical equipment company) and has become an exclusive regional distributor of Syneron Medical Ltd.

【Seller introduction】Revitacare

(1) Year of establishment: 2003

(2) Location: France

(3) CEO: N/A

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investors: N/A

(7) Company brief: Revitacare mainly engages in R&D and sales of dermatology products including skin care and hair growth products and specialises in cutting-edge research, development and manufacturing of highly sophisticated anti-aging formulations. Revitacare has been recognised as a pioneer in making specific complexes of active ingredients bound to HA. Revitacare dedicates to the medical cosmetology and beauty market through a wide range of international distribution networks and the current product sales are in more than 40 countries.

2. Wondfo invested a UK company, Altas Genetics in D round fundraising

 Atlas Genetics, an UK-based molecular diagnostics maker at point of care testing (POCT), announced the completion of D round financing with US$35 million. This round involved all C-round investors and a new investor, Wondfo Biotech. The funding will be used for the worldwide dissemination of the molecular diagnostic system, Atlas Genetics’ io® system and for the development of molecular diagnostics of other diseases.

【Deal details】

(1) Buyer: Wondfo

(2) Target company: Atlas Genetics Ltd.

(3) Amount: US$35 million (D round fundraising)

(4) Deal brief: Atlas Genetics Ltd will use the funding in clinical trials and commercialisation of chlamydia and gonorrhea testing and will plan to complete the regulatory certification of the United States by the end of 2017. This round financing will also be used for the further development of the molecular diagnosis of other diseases.

【Buyer introduction】Wondfo

(1) Number of employees: over 1000

(2) Location：Guangzhou, China

(3) Established year；1992

(4) CEO；Wenmei Li

(5) Company brief: Wondfo was founded in 1992 and is one of the earliest high-tech biological enterprises in China. The headquarter is located in Guangzhou, China. Wandfo has a laboratory in San Diego, a branch office in Chicago and another 11 overseas offices. It was listed on the Shenzhen Stock Exchange (stock code 300482) in 2015 with a market value more than ¥15 billion. Wondfo commits to the development, production and sales of POCT products and provides customers with professional rapid diagnosis, chronic disease management products and services. Currently, Wondfo has about 1200 employees and has products that cover infectious diseases, pregnancy, cardiovascular diseases, narcotics, cancer, metabolic diseases and other fields.

【Seller introduction】Atlas Genetics Ltd

(1) Year of establishment: 2005

(2) Number of employees: N/A

(3) Location：UK

(4) CEO: Jeff Luber

(5) Company brief: io® molecular diagnostic system of Atlas Genetics has been fully developed.  In February 2016, Atlas Genetics announced that its Chlamydia Trachomatis (CT) test was successful and received CE certification. This D round financing will be used in clinical trials and commercialisation of chlamydia and gonorrhea testing and in the further development of molecular diagnostics for other diseases. Atlas Genetics plans to complete the USA regulatory certification by the end of 2017. This round funding will provide capital for Bespak (Atlas Genetics’s partner) to produce diagnostic kits and to upgrade their producing capability. The io® system provides an innovative platform for the rapid diagnosis of a wide range of infectious diseases. This system only takes less than 30 minutes from providing a sample to getting results, which enables primary care clinics and physician’s offices to provide accurate diagnostic results of infectious diseases as hospital laboratories do. The system is based on a patented electrochemical sensor technology combined with some advantages including speed, accuracy and low manufacturing costs. Its highly integrated diagnostic kit contains all of the required detection reagents and is capable of receiving untreated clinical samples. Each diagnostic kit can detect up to 24 target products of different genes from one patient sample.

3. Fosun Pharma Acquired Goldcup, a subsidiary of Breas

On  26th January 2017, Fosun Pharma announced that Fosun Industries (a wholly-owned subsidiary of Fosun Pharma) and Fosun Industrial Holdings (a wholly-owned subsidiary of Fosun International) intended to establish a new joint venture Special Purpose Vehicle (SPV) in Sweden. Fosun Pharma acquires 80% of Goldcup, a European ventilator company via the share transfer and additional share subscription through SPV for no more than US$ 90 million.

【Deal details】

(1) Buyer: Fosun Pharma

(2) Seller: Breas – Goldcup

(3) Payment methods: Fosun Industries and Fosun Industrial Holdings intends to jointly establish a new SPV joint venture in Sweden. Fosun Pharma acquires 80% of Goldcup, a European ventilator company via the share transfer and additional share subscription through SPV for no more than US$ 90 million. After the transaction, Goldcup’s existing shareholder, PBM RESP Holdings will hold the remaining 20% of the share.

(4) Motivation: Upon completion of the acquisition of Goldcup, Fosun Pharma will form a strategic platform from the early detection of lung cancer and asthma to equipment of common respiratory diseases and will gradually create a closed-loop of respiratory medicine industry.

【Buyer introduction】Fosun Pharma

(1) Year of establishment: 1994

(2) Location: Shanghai, China

(3) Number of employees: N/A

(4) Stock market: Fosun Pharma (600196-SH; 02196-HK)

(5) CEO: Yifang Wu

(6) Company brief: Fosun Pharma was established in 1994 and is a leading healthcare industry group in China. Fosun Pharma’s business covers the entire pharmaceutical & healthcare industry chain, which includes pharmaceutical manufacturing, R&D, medical services, medical device, medical diagnostics and pharmaceutical distribution and retail. Fosun Pharma has a state-of-the-art enterprise technology center and an international R&D team. It keeps its focuses on innovative R&D in cardiovascular, central nervous system, blood system, metabolism and digestive system, anti-infective and anti-tumor therapeutic fields.

【Seller introduction】Breas –Goldcup

(1) Year of establishment: 1991

(2) Location: Sweden

(3) CEO: Damian deGoa

(4) Number of employees: 150

(5) Stock market: unlisted

(6) Company brief: Goldcup was founded in 2017 and is a new company that is restructured from the target company of this transaction. Before the transaction, PCM Capital would transfer all equipment related business of Breas to Goldcup. Breas is based in Sweden and is a professional medical equipment company for the development, manufacture and sales of the treatment of sleep-respiratory diseases and chronic obstructive pulmonary disease with a high-quality and high-performance European ventilator brand and a mature selling network in Europe and the United States.

 FEBRUARY

4. Yuyue Group acquired a German company Metrax

In mid-Feb 2017, Jiangsu Yuyue Group acquired all the shares of Metrax GmbH through its subsidiary Yuwell Germany GmbH in Tuttlingen, Germany.

【Deal details】

(1) Buyer: Yuyue

(2) Seller: Metrax

(3) Payment methods: Yuyue acquired all the shares of Metrax GmbH through its subsidiary Yuwell Germany GmbH in Germany.

(4) Motivation: To expand overseas market and to implement internationalisation strategy.

【Buyer introduction】Yuyue Medical

(1) Year of establishment: 1998

(2) Location: Jiangsu, China

(3) Number of employees: N/A

(4) Stock market: Yuyue Medical (002223.SZ)

(5) CEO: Guangming Wu

(6) Company brief: Yuyue Medical Euipment & Supply Co., Ltd. is a Chinese listed company, which was founded in 1998. Yuyuel brings professional health management concept and advanced product solution into daily life, makes a health ecosystem consisting of homecare medical, clinic medical and internet medical and builds up a professional and comprehensive medical service platform. Yuyue’s headquarter is located in Shanghai, China. It owns seven R&D centers and five production bases, which are spread in San Diego (US), Tuttlingen (German), Taiwan, Beijing, Shanghai, Nanjing, Suzhou and Danyang and its representative offices are over the world, which forms a complete network of the R&D, production, sale and service.

【Seller introduction】Metrax

(1) Year of establishment: 1973

(2) Location: Germany

(3) CEO: Tobias Mohry

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor: Yuyue

(7) Company brief: As an innovative medical technology company, Metrax has advanced its position worldwide to become a pioneer in the field of Emergency Medicine. Since 1973, Metrax has been combining its outstanding expertise with intelligent medical technologies and the latest clinical studies to support the development, production and distribution of its tried and tested professional and automatic defibrillators of the Primedic brand. Metrax has been researching, manufacturing and marketing first aid medical products since 1989, including the automated external defibrillator (AED) and the specialised defibrillator for emergency centers and hospital clinics.

5. Xi’an Lijun investing £1.5m into Cipher Surgical 

Lead investor, Xi’an Lijun, a leading regional pharmaceutical company in West China, is investing £1.5m into Cipher Surgical.

【Deal details】

(1) Buyer: Xi’an Lijun Pharma

(2) Seller: Cipher Surgical

(3) Payment methods: n/a

(4) Motivation: With the OpClear, Cipher Surgical has a product that is unique, has clear first mover advantage, no direct competition, a demonstrable demand in a critical area (clear surgical vision) of huge potential market (20m procedures per annum and in the case of China growing rapidly).

【Buyer introduction】Xi’an Lijun Pharma

(1)Established year: 1999

(2)Location: China

(3)Number of employees: 2000

(4)Stock market: (02005.HK)

(5)CEO: Qing Wu

(6)Company brief: Xi’an Lijun Pharmaceutical Co., Ltd. is an integrated high-tech enterprise established on the basis of joint-stock system reform in 1999. Xi’an Lijun now has total assets of about 1 billion yuan, annual sales of 1.1 billion yuan, and annual profits and taxes of about 300 million yuan. mainly engaged in new formulations, pharmaceutical raw materials and high-quality health products.

【Seller introduction】Cipher Surgical

(1)Established year: 2010

(2)Location: UK

(3)Managing Director: Andrew Newell

(4)Number of employees: n/a

(5)Stock market: unlisted

(6)Investors: Significant investors include Angel Co Fund and a fund managed by Midven Ventures, and the company’s shares are EIS qualifying.

(7)Company brief: Cipher Surgical® was established in 2010 to develop OpClear® from its proof of principle. The company received a CE mark for a prototype OpClear® in October 2013 and after extensive clinical evaluations in the UK, the device was redesigned in 2015 to optimise its performance. OpClear® is patented and cleared for sale in Europe and selected markets. The company’s head office is in Coventry and ISO 13485 accredited manufacturing is outsourced in the UK.

The disposable OpClear®, which is Cipher Surgical’s main product, allows surgeons to clean the lens of their laparoscope (the device used for keyhole surgery) without disrupting the surgery, which improves visibility and patient safety overall.

 MARCH

6. British MRC licensed the hepatitis C antibody to Newsummit Biopharma

MRC Technology (MRC-T), a UK-based research charity, announced that it had licensed the hepatitis C antibody to Newsummit Biopharma for the development of drugs in the treatment of hepatitis C virus (HCV) infection.

【Deal details】

(1) Buyer: Newsummit Biopharma

(2) Seller: MRC-T

(3) Transaction Type: License

(4) Deal instruction: On 14th March 2017, Newsummit Biopharma announced that it had obtained MRC-T’s antibody for the development of drugs in the treatment of HCV infection.

【Buyer introduction】Newsummit Biopharma

(1) Location: Shanghai, China

(2) Number of employees: N/A

(3) Year of establishment: 2001

(4) CEO: Jun Ren

(5) Company introduction: Newsummit Biopharma is a Contract Research Organization (CRO) and provides professional outsourcing services for pharmaceutical companies in the R&D process of new drug. It encompasses all R&D-related technical services including pre-clinical research, clinical trials, data management, new drug regulatory application and assistance in investigational new drug and the applications.

【Seller introduction】 LifeArc (formally MRC Technology)

(1) Location: London, UK

(2) Year of establishment: 2000

(3) CEO: Dave Tapolczay

(4) Number of employees:160

(5) Institute brief: MRC-T was established in 2000 and is a British charity organisation in medical research/life science. It provides intellectual property identification, protection and commercialisation, technology development, early stage drug discovery and antibody humanisation services for the academia, biotechnology and pharmaceutical organisations and charities, aiming to move promising medical research forward into viable and accessible patient treatments. In June 2017, MRC-T officially changed its name to LifeArc and the earning of Lifearc will be re-invested into further medical research.

【Background】

HCV infection is the major cause of chronic liver disease. It is estimated that about 200 million people in the world are infected with the virus and 25% of these infected people live in China. It is predicted that HCV infection will become a major cause of liver cancer and mortality by the end of the next decade in a global projection. Although new and promising treatments are now available for patients with HCV infection, there is no vaccine against HCV available currently. At the same time, the demand for HCV treatment remains unmet and new therapeutic targets need to be developed.

7. BGI Invested in the Series B funding of Congenica

Congenica, a specialist in clinical genomics software for inherited diseases, has completed a Series B funding round with additional investments from BGI Genomics, Healthlink Capital and Future Planet Capital.

【Deal details】

(1) Buyer: BGI

(2) Seller: Congenica

(3) Payment methods: n/a

(4) Motivation: BGI Genomics, one of the world’s largest DNA sequencing service provider, will use Sapientia as a genome annotation and clinical decision support platform for in-house programs and through its BGI-onlineservice, enabling the adoption of genome-based genetic diagnosis in routine diagnostic testing.
The unrivalled integrated end-to-end solution provided by BGI’s powerful BGI Online platform and Congenica’s authoritative Sapientia software offers multiple advantages

【Buyer introduction】BGI

(1)Established year: 1999

(2)Location: Shenzhen, China

(3)Number of employees: n/a

(4)Stock market: (300676.SZ)

(5)CEO: Ye Yin

(6)Company brief: BGI was founded in 1999 with the vision of using genomics to benefit mankind and has since become the largest genomic organization in the world. With a focus on research and applications in the healthcare, agriculture, conservation, and environmental fields, BGI has a proven track record of innovative, high profile research, which has generated over 2,137 publications, many in top-tier journals such as Nature and Science.

【Seller introduction】Congenica

(1)Established year: 2013

(2)Location: Cambridge, U.K

(3)CEO: Tom Weaver

(4)Number of employees: n/a

(5)Stock market:unlisted

(6)Investors: CambridgeInnovation Capital, Amadeus Capital Partners, Parkwalk Advisors, HealthlinkCapital and Future Planet Capital

(7)Company brief: Congenica is a leading provider of clinical decision support software and services who have developed the gold-standard platform, Sapientia, for analysis, interpretation and generation of clinically actionable reports on patient derived genomic data. Headquartered at the Wellcome Genome Campus, Cambridge, U.K., Sapientia’s underlying technology was spun out of the pioneering research from the Sanger Institute and the platform continues to evolve by the well-renowned scientific staff and advisers.

Congenica aims to integrate genomics into healthcare by providing clinical genome analytics to support medical practitioners treating patients with genetic diseases, and thereby improving human health and personalised patient care. The company is at the forefront of partnering with leading clinical research and healthcare providers, charities and patient advocacy groups, pharmaceutical and diagnostic companies, and new medical paradigms in orphan diseases.

JULY

8 Abachem acquired Amino Chemicals Limited

On 3rd July 2017, Abachem successfully acquired a 100% equity of Amino Chemicals Limited held by Dipharma Francis Srl and Osiris Trust Limited, for a consideration of €24.458 million.

【Deal details】

(1) Buyer: Abachem

(2) Seller: Amino Chemicals Ltd.(ACL)

(3) Payment methods: Abachem acquired a 100% equity of Amino Chemicals Limited held by Dipharma Francis Srl, and Osiris Trust Limited.

(4) Motivation: To enter the European and American pharmaceutical market, to increase the company’s specialty API varieties and to speed up the international pharmaceutical customisation of the company and the distribution of the API market. To help the company to have more European and American certificated products and to accelerate the development of the pharmaceutical product line.

【Buyer introduction】Abachem

(1) Year of establishment: 2003

(2) Location: Jiangsu, China

(3) Number of employees: N/A

(4) Stock market: Abachem (300261)

(5) CEO: Tong Cai

(6) Company brief: Abachem was established in July 2003 and its business includes 2 major fields, life sciences and environmental protection. The company is headquartered in Shanghai and owns 3 major R&D centers including Shanghai Zhangjiang Innovation Center, Songjiang Pharmaceutical (Intermediate products) and Zhejiang Huzhou Biological (Enzymes). It also has 4 production bases which are located in Jiangsu Taicang, Rudong, Binhai and EU-Malta.

【Seller introduction】Dipharma/Amino Chemicals Ltd.(ACL)

(1) Year of establishment: 1992

(2) Location: Malta

(3) CEO: Marc-Olivier Geinoz

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor: Abachem

(7) Company brief: Amino Chemical Limited is headquartered in Malta primarily and engages in the production and sales of API and chemical customised manufacture services. There are 43 existing API products, which can be produced in a scale from kg to ton. 49% of customers are in Europe, 19% of them are in North America, 23% of them are in India and the remaining customers are less concentrated. The company’s factory has granted GMP certification by the USA, FDA and has a well-tracked audit record for decades.

9. Hillhouse Capital invest Poland company Vets First Choice

In July 2017, Poland company Vets First Choice announced that it raised US$233 million fundraising to accelerate the development of company and to expand its business to Asia and Europe.

【Deal details】

(1) Buyer: Hillhouse Capital

(2) Seller: Vets First Choice

(3) Payment methods: undisclosed

(4) Motivation: According to data provided by American Pet Products Association, pet owners in the USA spent about US$17 billion on Vet Care and US$15 billion on pet supplies/OTC medicines in 2016. However, revenues from veterinary clinics have shrunk as customers switch to online retailers such as PetMeds, Amazon’s medicines and other supplies. Vets First Choice tries to solve this problem by providing outsourced online pharmacy services to veterinarians, enabling veterinarians to retain local customers while competing for prices with online suppliers.

【Buyer introduction】Hillhouse Capital

(1) Year of establishment: 2005

(2) Location: Beijing, China

(3) Number of employees: N/A

(4) Stock market: unlisted

(5) CEO: Lei Zhang

(6) Company brief: Hillhouse Capital focuses on the investment to these businesses with long-term structural values and now Hillhouse Capital becomes one of the investment funds that have largest asset under management in Asia.

【Seller introduction】Vets First Choice

(1) Year of establishment: 2010

(2) Location: Poland

(3) CEO: Benjamin Shaw

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investors:  Clayton, Dubilier & Rice and Hillhouse Capital Group lead the investment and Viking Global Investors, Wellington Management Co., Rock Springs Capital and Sequoia Heritage follow the investment.

(7) Company brief: Vets First Choice was established in 2010. It is an online pharmacy and home delivery service provider for vets. It cooperates with vets, has an insight into the need in animal care and provides professional and active prescription management.

10. Puhua Capital involved in B Round Financing of Creavo, a UK medical equipment company

Creavo, a UK medical equipment company received private equity funds of US$17 million. The investment was led by IP Group plc and followed by some others including University of Leeds, Parkwalk Advisors and Puhua Capital Ltd. Creavo commits in developing the technology and products used in magnetocardiography (MCG). This technology measures, displays and stores electromagnetic fluctuations caused by heart activity and helps doctors better understand and predict the risk of arrhythmias and sudden cardiac death in patients.

 【Deal details】

(1) Buyer: Puhua Capital Ltd

(2) Seller: Creavo Medical Technologies

(3) Transaction brief: This B round financing is primarily made by Parkwalk fund and other participants including private and institute investors from the EU, USA and China for a total of £13.4 million (around US$17 million).

【Buyer introduction】Puhua Capital

(1) Location: Hangzhou, China

(2) Year of establishment: 2004

(3) CEO: Qinhua Shen

(4) Company brief: Puhua Capital is China’s leading venture capital and has a great influence in medical field. Puhua Capital primarily invests projects at early and middle stages and is focusing on TMT, computer science, medical and healthcare industry, culture and new technology fields.

【Seller introduction】Creavo

(1) Location: Leeds, UK

(2) CEO：Steve Parker

(3) Company brief: Creavo Medical Technology split from University of Leeds and has an unique deployable diagnostic technology, which uses a sensitive sensor in magnetocardiography to measure, display and store electromagnetic fluctuations caused by heart activity.

11. Lianhetech invested Project Bond Holdco Limited

 On 19 July 2017, Lianhe Technology successfully obtained 100% equity of Project Bond Holdco Limited in a deal for £103 million.

【Deal details】

(1) Buyer: Lianhetech

(2) Seller: Project Bond Holdco Limited

(3) Payment methods: 100% equity of Project Bond Holdco Limited has been transferred.

(4) Motivation: This acquisition is one of the important measures for Lianhetech to implement its internationalisation strategy. It is conducive to accelerating the strategic pace in the development of the company’s customisation business of agro-pharmaceuticals and internationalisation of functional chemicals business. It further strengthens the cooperation between the company and international clients in this field, expands new profit growth point and lays a solid foundation for the company to participate in international competitions.

【Buyer introduction】Lianhetech

(1) Year of establishment: 1985

(2) Location: Zhejiang, China

(3) Number of employees: N/A

(4) Stock market: Lianhetech (002250.SZ)

(5) CEO: Ping Wang

(6) Company brief: Lianhetech is a leading provider of chemicals and technology solutions and dedicates to serving the agrochemicals, pharmaceuticals, functional chemicals, equipment and engineering technologies fields. It was founded in 1985 and now has 7 chemical manufacturing centers, 2 machinery and equipment manufacturing centers and 2 R&D centers in China.

 【Seller introduction】Project Bond Holdco Limited

(1) Year of establishment: 1977

(2) Location: UK

(3) CEO: Chris Gowland

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor:  Lianhetech

(7) Company brief: The main business of Project Bond Holdco Limited ranges from pesticide, pharmaceutical intermediates, active ingredients, raw materials and special chemicals to customised processing services. The major asset is its subsidiary, Fine Industries Limited, which is an advanced R&D and custom processor in Europe. Fine Industries Limited provides the development, manufacture and extensive solution of complex intermediates and active ingredients for its clients.

AUGUST

12. Aier Group acquired Clínica Baviera, SA

On 9th April 2017, Aier Eye Hospital International (Europe) Ltd. successfully acquired 86.83% of stake of Clínica Baviera, SA for €147 million. Aier Eye Hospital International (Europe) Ltd was established by Aier Eye Hospital International (Hong Kong) Ltd., a wholly-owned subsidiary of Aier Eye Group, Inc.

【Deal details】

(1) Buyer: Aier Eye Hospital Group Company Limited

(2) Seller: Clínica Baviera, SA

(3) Payment methods: transferred 86.83% of Clínica Baviera, SA’s equity

(4) Motivation: This acquisition not only forms complementary advantages in advanced technology of ophthalmic diagnosis, high-quality experience, human resources and other aspects, but also improves the network and services of both parties and expands the European market.

【Buyer introduction】Aier Eye Hospital Group Company Limited

(1) Year of establishment: 2003

(2) Location: Hunan, China

(3) Number of employees: N/A

(4) Stock market: Aier Eye Hospital Group (300015.SH)

(5) CEO: Li Li

(6) Company brief: Up to 2018, Aier Eye Hospital Group has established more than 220 professional ophthalmology clinics in 30 provinces and cities in mainland China. It covers up to 70% of the national medical insurance population with over 4 million visits per year. In addition, it has over 80 ophthalmology hospitals in the USA, Europe and Hong Kong. In 2013, Aier Eye Hospital Group and Central South University jointly set up a professional ophthalmology school – Aier Ophthalmology College of Central South University. In 2014, it cooperated with the Hubei University of Science and Technology and set up a Aier Institute of Optometry. Besides, Aier has established “Aier Optometry Institute” and “Aier Eye Research Institute” during a period of 2011 to 2015, So far, Aier has linked up the medical, learning and research in Ophthalmology.

【Seller introduction】Clínica Baviera, SA

(1) Year of establishment: 1992

(2) Location: Spain

(3) CEO: Eduardo Baviera

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor:  Aier Eye Hospital Group Company Limited

(7) Company brief: Clínica Baviera, SA is the largest listed chain ophthalmology medical institute with a history of 25 years. It has more than 300 ophthalmologist and optometrists over 76 medical centers. These ophthalmologist and optometrists include the founder, Julio Baviera and highly reputed core medical teams in Germany, Spain, Italy, Austria and other countries. Clínica Baviera, SA has the world’s leading treatment technology in ophthalmology. Its presbyopia surgery ranks the first in European market share and myopia surgery ranks the first in Germany and Spain market share.

 SEPTEMBER 

13. Destiny Pharma licensed CMS to make its anti-infectious pipeline production

【Deal details】

(1) Buyer: China Medical System Holdings Ltd (CMS)

(2) Seller: Destiny Pharma

(3) Amount: £3 million

(4) Deal brief: Destiny Pharma licensed CMS to develop and sell Destiny’s anti-infectious pipeline products in China and other Asian countries excluding Japan. Under this cooperation, CMS will invest £3 million to its equity and will dedicate in the further development of anti-infectious products of Destiny Pharma.

【Buyer introduction】: China Medical System Holdings Ltd (CMS)

(1) Year of establishment: 1995

(2) Location: Shenzhen, China

(3) Number of employees: 3600

(4) CEO：Gang Lin

(5) Stock market: (code: CMSH)

(6) Company brief: CMS is a professional pharmaceutical company based in China, which focuses on the research of patented innovative drugs. With a combination of independent research and cooperative research, CMS has already had patented drug portfolios which contain one drug under phase III clinical trial in China, one drug under phase III clinical trial in Europe and one drug under phase II clinical trial in the USA.

【Seller introduction】：Destiny Pharma

(1) Year of establishment: 1996

(2) Location: UK

(3) CEO: Neil Clark

(4) Stock market: London’s Alternative Investment Market (AIM: DEST)

(5) Company brief: Destiny Pharma is an innovative pharmaceutical company which focuses on the development of novel medicines. Destiny Pharma is dedicated to the development of new antimicrobials and to solve the global “superbug” problems. These potential new drugs are being developed to address the prevention and treatment of life-threatening infections caused by “superbugs”.

OCTOBER

14. Fosun Pharma acquired a French Company Tridem Pharma

On 27th October 2017, Fosun Pharma acquired 100% equity of Tridem Pharma SAS for €63 million.

【Deal details】

(1) Buyer: Fosun Pharma

(2) Seller: Tridem Pharma SAS

(3) Payment methods: 100% equity of Tridem Pharma SAS

(4) Motivation: Fosun Pharma will further improve its pharmaceutical international marketing platform and enhance the sale scales of pharmaceutical products of Fosun Pharma in the international market, especially in Africa with the help of Tridem Pharma’s mature sale network and upstream and downstream customer resources in the French-speaking countries and regions in Africa.

【Buyer introduction】Fosun Pharma

(1) Year of establishment: 1994

(2) Location: Shanghai, China

(3) Number of employees: N/A

(4) Stock market: Fosun Pharma (600196-SH; 02196-HK)

(5) CEO: Yifang Wu

(6) Company brief: Fosun Pharma is a leading healthcare industry group in China. Fosun Pharma’s business covers the entire pharmaceutical & healthcare industry chain, which includes pharmaceutical manufacturing and R&D, medical services, medical device, medical diagnostics and pharmaceutical distribution and retail. Fosun Pharma has a state-of-the-art enterprise technology center and an international R&D team. It keeps its focuses on the innovative research and development in cardiovascular, central nervous system, blood system, metabolism and digestive system, anti-infective and anti-tumor therapeutic fields.

【Seller introduction】Tridem Pharma SAS

(1) Year of establishment: 1986

(2) Location: France

(3) CEO: N/A

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor: Fosun Pharma

(7) Company brief: Tridem Pharma is the 3rd largest pharmaceutical distribution company in the French-speaking areas in Africa. Its sale network covers 21 French-speaking countries and regions in Africa.

NOVEMBER

15. MicroPort acquired the CRM of LivaNova Plc.

 On 20th November 2017, MicroPort announced that its wholly-owned subsidiary intended to acquire the cardiac rhythm management (CRM) business of LivaNova PLC (NASDAQ: LIVN) for US$190 million.

 【Deal details】

(1) Buyer: MicroPort

(2) Seller: LivaNova PLC

(3) Payment methods: MicroPort and Sorin Group (a subsidiary of LivaNova) jointly set up MicroPort Sorin CRM (Shanghai) Co. Ltd. in 2014 to develop, manufacture and sale CRM products in China. This acquisition will make MicroPort hold 100% equity of MicroPort Sprin CRM, which was formerly held in 51% and 49% by MicroPort and Sorin, respectively.

(4) Motivation:  The acquisition will allow MicroPort Medical to become the most advanced company with CRM expertise in China. Upon completion of the acquisition, the company will be the leading player in the field of CRM in China, will enjoy the state-of-the-art technology and will cover the global CRM market valued at approximately US$ 10 billion.

【Buyer introduction】MicroPort

(1) Year of establishment: 1998

(2) Location: Shanghai, China

(3) Stock Market: MicroPort (00853.HK)

(4) CEO: Zhaohua Chang

(5) Company brief: MicroPort Medical is a high-end medical device group that mainly covers 10 fields including cardiovascular interventional products, orthopedic medical devices, diabetes and endocrine medical devices, electrophysiological medical devices, aortic and peripheral vascular interventional products, nerve interventional products and surgical operations.

【Seller introduction】LivaNova PLC

(1) Year of establishment: 2015

(2) Location: UK

(3) CEO: Damien McDonald

(4) Stock market: (NASDAQ: LIVN)

(5) Company brief: LivaNova PLC is a medical device company that operates cardiac surgery, neuromodulation and CRM with 3 business franchises. Its CRM business spreads throughout the world. The main products include CRM devices, assistive devices, external monitors, relevant systems and components, algorithms and software. The software detects and corrects algorithms, networks and systems used by patients, physicians and emergency responders to communicate on CRM devices.

16. Tsinghua University Holding invested in Biohub, Cambridge Sino-British Academic collaboration innovative center

【Deal details】

(1) Buyer: Tsinghua University Holding

(2) Seller: Trinity College of Cambridge

(3) Amount: over £200 million (US$276 million)

(4) Deal Introduction: It is an academic collaboration between Trinity College of Cambridge and Tsinghua University. This new Biohub will provide laboratories and offices for biotechnology and medical technology companies at an early stage.

【Buyer introduction】Tsinghua University Holding：TUS

TUS was established in 2000 and is a comprehensive enterprise that relies on Tsinghua University. As a flagship product of TUS Holdings, Tsinghua Science Park is the largest university science park in the world with more than 1,500 enterprises. At present, Tsinghua Science Park has become a gathering place for R&D headquarters, science and technology headquarters for multinational enterprises and innovative enterprises. Tsinghua Science Park is an important platform for Tsinghua University to serve social functions and promote regional independent innovation and has become a well-known brand in China and the world.

【Seller introduction】Trinity College,  Cambridge University

【Deal Introduction】

Two members of the International Association of Science Park and Innovative Regions (IASP), Cambridge Technology Park (UK) and Tsinghua Science Park (China) reached an agreement to establish a joint venture. The agreement includes establishing a state-of-the art Biohub in Cambridge Science Park, which would provide laboratories and offices for early stage biotech and medical technology companies. This Biohub will complement the Bradfield Center to provide early stage technology companies and entrepreneurs with co-working spaces, mentorships and on-site engagement with angel investors. The Cambridge Science Park is owned by Trinity College and marks an important phase of refurbishment and investment of the old Cambridge Technology Park. Afterwards, Trinity College will carry out further academic cooperation with Tsinghua University. The Cambridge Science Park has now been expanded to about 150 hectares with about 1.7 million square feet of high-tech and laboratory buildings, accommodating about 85 technology companies and 6,500 employees, while Tsinghua Science Park manages the largest technology park and incubator network clusters in China.

 17. Xianju Pharma Acquired Two Italian Companies Newchem SpA and Effechem SrI

 On 14th November 2017, Zhejiang Xianju Pharmaceutical obtained 100% equity of Italy Newchem and Effechem from Fincarl SpA and Carletti Speranza for €109 million and €1 million, respectively.

【Deal details】

(1) Buyer: Xianju Pharma

(2) Seller: Newchem SpA and Effechem SrI

(3) Payment methods: 100% stake transfer

(4) Motivation: The transaction is beneficial to enhance the internationalisation strategic pace of Xianju Pharma’s API business and to further improve the steroid drug industry chain of Xianju Pharma. In addition, it would also bring new profit to Xianju by expanding international API market and improving the connection with international clients.

【Buyer introduction】Xianju Pharma

(1) Year of establishment: 1972

(2) Location: Zhejiang, China

(3) Number of employees: N/A

(4) Stock market: Xianju Pharma (002332.SZ)

(5) CEO: Yusong Zhang

(6) Company brief: Zhejiang Xianju Pharma is a national designated manufacturer for steroid hormone drugs and family planning drugs.

【Seller introduction】Newchem SpA

(1) Year of establishment: 1998

(2) Location: Italy

(3) CEO: Carletti Speranza

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor:  Xianju Pharma

(7) Company brief: Newchem SpA was established in 1998 and mainly engages in the development, manufacture and sales of API, steroid and hormone. The company is also dedicated to the researches in their applications in agriculture, food industry, environmental protection industry, beauty industry and physiotherapy industry.

【Seller introduction】Effechem SrI

(1) Year of establishment: 1975

(2) Location: Italy

(3) CEO: Carletti Speranza

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor:  Xianju Pharma

(7) Company brief: Effechem was established in 1975 and primarily engages in a variety of sale activities in pharmaceutical industry.

DECEMBER

18. AstraZeneca Announced to set up a company, Dizal Pharmaceutical, with China Future Industry Investment Fund, a subsidiary of SDIC

 【Deal details】

(1) Buyer: SDIC Fund Management Company Ltd

(2) Seller: AstraZeneca

(3) Transaction brief: AstraZeneca with China Future Industry Investment Fund (FIIF) announced to set up a company, Dizal Pharmaceutical to discover, develop, commercialise potential drugs and bring innovative drugs for Chinese patients in a faster speed. Dizal Pharmaceutical incorporates the technology abilities of AstraZeneca Innovation Center and has exclusive patents. It will develop and commercialise three pre-clinical potential drugs in the treatment of cancer, cardiovascular and metabolic diseases, respiratory diseases with capital and expertise provided by its strategic partner FIIF.

【Buyer introduction】SDIC Fund Management Company Ltd

(1) Year of establishment: 2009

(2) Location: Beijing, China

(3) CEO: Guoguang Bai

(4) Company brief: SDIC is an independent private equity fund management company, providing consultation and management services for more than ¥60 billion funds. FIIF is one of the funds under SDIC’s management. SDIC’s limited partners have extensive institute investors in China. SDIC is mainly engaged in medical and healthcare, advanced manufacture, TMT and environment protection in China. The core management team of SDIC has been involved in private equity investment, domestic and overseas listing of Chinese enterprises, project financing, mergers and acquisitions, state-owned enterprise restructuring and other aspects of the business. The team is familiar with the private equity investment business and the operation of domestic and foreign capital markets.

【Seller introduction】AstraZeneca

(1) Year of establishment: 1999

(2) Location: Cambridge, UK

(3) Number of employees: 61500

(4) CEO：Pascal Soriot

(5) Company brief: AstraZeneca is a global, science-led biopharmaceutical company focusing on the discovery, development and commercialisation of prescription drugs, which are primarily for the treatment of three areas of diseases – oncology, cardiovascular and metabolic diseases and respiratory diseases. The company also has active research in the fields of autoimmune, neuroscience and infection. AstraZeneca operates in more than 100 countries around the world and its innovative medicines have been used by millions of patients worldwide.

19. AVO Received Yantai CIPU Distribution Investment Agreement

【Deal details】

(1) Buyer: Yantai CIPU Medical Technology

(2) Seller: Advanced Oncotherapy (AVO)

(3) Payment methods:  equity trading, 29.9% equity of AVO

(4) Amount: £31.5 million

(5) Introduction：Yantai CIPU announced that it involved in a £31.5 million distribution agreement, which enables CIPU to sale the LIGHT system of AVO in China, Macau, Taiwan, Hong Kong and Korea. AVO was financed £37.45 million in total, including £30 million invested by Yantai CIPU and £7.4 million invested by other investors, respectively. Besides, CIPU will subscribe 45,000,000 shares (“Common Shares”) at a price of 30p/common share for a total of £13.5million in the agreement.

【Buyer introduction】Yantai CIPU

• Location: Yantai
• Company Brief: Yantai CIPU invests in Chinese and international health industries, including high-end medical device companies.

【Seller introduction】 Advanced Oncotherapy

(1) Year of establishment: 2005

(2) Location: London, UK

(3) CEO: Nicolas Serandour

(4) Stock market: London Stock Exchange

(5) Company brief: AVO is a developer of next generation proton systems in the cancer treatment. The only focus of AVO is to develop techniques which maximise the damaging effects of radiation on tumors and minimise the damage to healthy tissues. Its purpose is to help hospitals and healthcare providers expand the scope of treatment to ensure that there is an option for clinicians and patients. The goal of AVO is to provide the next generation of proton therapeutics cost-effectively, which are clinically superior to the currently available alternative radiotherapy.

【Background】

Proton therapy is a type of external beam radiotherapy that uses ionizing radiation. In proton therapy, medical personnel use a particle accelerator to target a tumor with a beam of protons. These charged particles damage the DNA of tumor cells, ultimately killing them or stopping their reproduction. Cancerous cells are particularly vulnerable to attacks on DNA because of their high rate of division and their reduced abilities to repair DNA damage. Some cancers with specific defects in DNA repair may be more sensitive to proton radiation.

20. Ascend Invested a Finnish portable micro-scanner manufacturer, Grundium

In December 2017, a Finnish portable micro-scanner manufacturer, Grundium announced that it had raised €2 million in a seed round financing from Ascend Venture Partners.

【Deal details】

(1) Buyer: Ascend Investment

(2) Seller: Grundium

(3) Payment methods: undisclosed

(4) Motivation: It is estimated that the mobile digital pathological image market will reach US$726.2 million by 2023. After the products are put into the markets of the USA and Europe in the second quarter of next year, Ascend’s Investment will help Grundium to push the products to the Chinese market.

【Buyer introduction】Ascend Investment

(1) Year of establishment: 2002

(2) Location: Beijing, China

(3) Number of employees: N/A

(4) Stock market: unlisted

(5) CEO: Jianli Maoqu

(6) Company brief: Ascend Investment is a venture capital and leading financial advisory firm that focuses on the development of Chinese enterprises. The company is committed to providing international venture capital and quality financial advisory services to top Chinese companies and International multinational corporations who are seeking to expand their business in China. Its senior management members have over 30 years of experiences in investment banking, direct investment and corporate operations in China and the USA.

 【Seller introduction】Grundium

(1) Year of establishment: 2015

(2) Location: Tampere, Finland

(3) CEO: Mika Kuisma

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor: Ascend Capital

(7) Company brief: The founder of Grundium worked as an imaging engineer at Nokia before. Grundium has extensive experience in imaging and positioning technology and has developed a portable mobile digital microscope scanner that can scan and digitise high-resolution images. The scanner will be used in medical diagnosis as well as in biotechnology, transportation and many other industries. In fact, portable microscope scanners will have a huge impact on the people’s life as 70% of the current diagnoses in the medical industry require a microscopic scan of the pathology image. The company estimates that the mobile digital pathology imaging market will reach US$ 726.2 million by 2023.

21. Ascend invested WebMicroscope

On 1st December 2017, Ascend Venture Partners led an investment in the A round fundraising on  a deep learning medical image of startup company, WebMicroscope, which raised €5milliion (around ¥40 million).

【Deal details】

(1) Buyer: Ascend

(2) Seller: WebMicroscope

(3) Payment methods: undisclosed

(4) Motivation: Using cloud computing and mobile communication technologies, medical images under the microscope will be transmitted to the cloud, maximising the use of expert resources and providing telemedicine services in remote and underdeveloped areas.

【Buyer introduction】Ascend Investment

(1) Year of establishment： 2002

(2) Location: Beijing, China

(3) Number of employees: N/A

(4) Stock market: unlisted

(5) CEO: Jianli Maoqu

(6) Company brief: Ascend Investment is a venture capital and leading financial advisory firm that focuses on the development of Chinese enterprises. The company is committed to providing international venture capital and quality financial advisory services to top Chinese companies and International multinational corporations who are seeking to expand their business in China. Its senior management members have over 30 years of experiences in investment banking, direct investment and corporate operations in China and the USA.

 【Seller introduction】WebMicroscope

(1) Year of establishment: 2013

(2) Location: Finland

(3) CEO: Johan Lundin

(4) Number of employees: N/A

(5) Stock market: unlisted

(6) Investor: Ascend Capital

(7) Company Brief: WebMicroscope is a solution provider of deep learning-based digital pathology image analysis. They can be used in all types of medical research projects, with their technologies, they can handle with large digitised images in gigapixel dimensions. Through its software and high-performance computing technology, abnormal situations of scan photos in human tissue and tissue photos shoot in human biopsy by professional medical devices can be detected, including cancer tumor markers and intestinal parasites. With patient’s information and treatment plan, this algorism can search for potential risk factors more targeted and provide doctors with more accurate diagnostic recommendations.

22. Wandong Medical Acquired Esaote

Wandong Medical announced that it proposed to set up a M&A fund with Yuyue Technology and Yunfeng Fund to invest Esaote. According to the agreement, Wandong will acquire all the equity of Esaote except the inventory for €248 million (around ¥20 billion).

 【Deal details】

(1) Buyer: Wandong Medical

(2) Seller: Esaote

(3) Payment methods: Wandong Medical announced that it would cooperate with Yuyue Technology, Tianyi Group and Yunfeng Fund as limited partners, Free Trade Zone Fund Management Company as a general partner, to invest in the establishment of Shanghai Luzi Enterprise Management Consulting (Limited Partnership). Wandong Medical contributed 18% of the total capital. The partnership business will sign the contract with Esaote to acquire all equity except the inventory for €248 million.

(4) Motivation: With help of Esaote’s experience and support in the world’s leading ultrasound market, Wandong Medical can supplement their product line, making it domestic first-class imaging equipment platform. The investor group will benefit from the great development ability, world-renown brand, leading products and mature distribution and service network both in domestic and overseas market of Esaote.

【Buyer introduction】Wandong Medical

(1) Year of establishment: 1955

(2) Location: Beijing, China

(3) Number of employees: N/A

(4) Stock market: Wandong Medical (600055)

(5) CEO: Gang Chen

(6) Company brief: Wandong Medical is a medical equipment company which focuses on the development, manufacture and sales of medical X-ray diagnostic equipment, magnetic resonance imaging equipment, dental diagnosis and treatment equipment and health blood product, being one of the major domestic suppliers of medical equipment. High-end products represented by large-scale angiography and interventional therapy system, high-frequency digital gastrointestinal diagnostic system and direct digital imaging system have reached the international advanced level of its kind. Leading products have passed the CE certification of the EU and the FDA approval in the USA.

 【Seller introduction】Esaote

(1) Year of establishment: 1982

(2) Location: Italy

(3) CEO: Karl-Heinz Lumpi

(4) Stock market: unlisted

(5) Company introduction: Esaote is an internationally renowned multinational corporation of high-end medical equipment. Esaote is headquartered in Italy and has manufacturing plants in Italy and R&D centers in Netherlands. Its business covers more than 60 countries worldwide. The Group’s core products include ultrasound medical imaging solutions and special magnetic resonance imaging system. Esaote is the world’s leading manufacturer of medical devices, ranking the 6th in the world’s top ten ultrasound equipment suppliers with the highest market shares in Italy and Spain. Esaote is an absolute leader in the specialised MRI segment and is taking 30% of the world market share. They have more than 180 patents in ultrasound, ultrasound probe, special MRI and medical imaging software.

23. Profex collaborated with North Haven Private Equity Asia IV, a private equity fund managed by Morgan Stanley, to acquire Korres

Profex Inc.(a professional skincare distributor in China), and NHPEA Maiden Holding BV (a subsidiary of North Haven Private Equity Asia IV which is a private equity fund managed by Morgan Stanley) purchased 70% stake of Korres, a Greek cosmeceutical brand, for €48.3 million.

【Deal details】

(1) Buyers: Profex, North Haven Private Equity Asia IV

(2) Seller: Korres

(3) Payment methods: Purchased 70% stake of Korres, a Greek cosmeceutical brand, for €48.3 million. After the completion of this deal，North Haven Private Equity Asia IV and Profex will hold 56% and 14% of Korres stake, respectively, while the founder and CEO, Giorgos Korres holds 24％ of the stake and his family holds the remaining 6%.

(4) Motivation: As a part of the transaction, Korres and Profex will sign an exclusive license and supply agreement, which is that Profex will be responsible for the distribution of Korres products in mainlandf China and Hong Kong.

【Buyer introduction】Profex

(1) Year of establishment: 2001

(2) Location: Shanghai, China

(3) Number of employees: 500+

(4) Stock market: unlisted

(5) CEO: Paul Contomichalos

(6) Company brief: It was established in 2001 and is headquartered in Shanghai. Profex is the first global specialty healthcare company focusing on skin health and medical aesthetics in mainland of China. Profex has been continuously dedicated to scouting, licensing, acquiring, and marketing the world-leading skin care and dermatological products to serve Chinese customers and consumers. Profex’s portfolio extends to various therapeutic areas, covering orthopedics, CNS, pain management and wound healing. Profex has been developing long term strategic partnership with multinational companies, as an exclusive partner for China market’s commercialization.

 【Seller introduction】Korres

(1) Year of establishment: 1996

(2) Location: Greece

(3) CEO: Georgios Korres

(4) Stock market: ASE Market（Symbol：KRRr.AT）

(5) Company brief: Korres was formerly a Greek homeopathic pharmacy founded in Athens in 1996 by pharmacist Georgios Korres of Naxos. Becoming a pioneer in this field, Korres aims to develop innovative and effective products based on natural, active ingredients, to promote the research of natural ingredients in relation to skin biochemistry, to project the benefits of unique Greek flora through cooperating with local farmers and to produce our own high value organic extracts. The brand has 5,500 sale stores in Greece and covers more than 30 international markets including Europe, the USA, Japan and Singapore. It is estimated that its annual retail sales will be approximately €100 million. Central and South American market, which are agented by Avon, generates an additional €3,500 to €40 million in revenue.

(6) Payment methods: undisclosed

(7) Motivation: Revitacare mainly focuses on the development and sales of dermatology products including skin repair category and hair products. Bloomage BioTechnology believes that this acquisition can enrich its product portfolios and expand to international markets more through the high-end image of “Made in France”.

• Tags: