(Yicai Global) April 11 -- Chinese medical service provider Dian Diagnostics Group Co. plans to take a majority stake in equipment importer Qingdao Zhiying Medical Technology Co., as part of efforts to accelerate the firm’s transformation into an integrated diagnostic service provider.
Dian Diagnostics will partner Hailu Equity Investment Partnership LLP to take a 51 percent stake in Zhiyang Medical through an investment of CNY576.3 million (USD91.5 million), the Hangzhou-based firm said in a statement.
Zhiying Medical is one of the largest importers of medical diagnostic products in eastern China’s Shandong province’s, covering major medium-sized medical institutions. The firm supplies various international vitro-diagnostic brands including Japan’s Sysmex Corp., Switzerland’s F. Hoffmann-La Roche AG, US firm Cardinal Health Inc. and France’s Sebia SA.
Upon completion of the deal, Dian Diagnostics will look to expand its regional market share, while also improving its integrated service capabilities and customer retention rate with the support of Zhiying Medical’s market networks and service teams in Shandong.
Dian Diagnostics previously inked a cooperation agreement with Zhiying Medical last July to jointly set up a regional medical examination service platform for the province.