(Yicai) Sept. 19 -- Micro-Tech Nanjing, a Chinese producer of minimally invasive medical devices, said it will buy a controlling stake in a Spanish dealer of medical apparatus for EUR36.7 million (USD41 million).

Micro-Tech will acquire 51 percent of Creo Medical from its UK parent firm Creo Medical Group, the Nanjing-based company announced late yesterday.

Navarra-based Creo Medical is the sales arm of Creo Medical Group, which is listed in London and focuses on minimally invasive endoscopic and robotic-assisted surgery. The unit's clients include nearly 5,000 public and private hospitals, clinics, and other medical institutions in its largest markets of France, the United Kingdom, Belgium, Spain, and Germany.

The transaction will help Micro-Tech to quickly enhance its product sales capabilities in Europe and leverage its strong research, development, and production to introduce more products and categories to Creo Medical, as well as ensure stable supplies, it said.

Shares of Micro-Tech [SHA: 688029] closed 1.3 percent higher at CNY59.24 (USD8.36) each in Shanghai today, after earlier jumping by as much as 4.7 percent. The benchmark Shanghai Composite Index rose 0.7 percent.

Creo Medical had a first-half net profit of EUR1.6 million (USD1.8 million) on revenue of EUR16.6 million, according to Micro-Tech. More than 90 percent of its earnings came from product sales for its parent company.

Micro-Tech focuses on endoscopic diagnosis and treatment, tumor intervention, and minimally invasive neurosurgery device product lines. Its revenue was CNY1.3 billion (USD190 million) in the six months ended June 30, with CNY624 million (USD88.1 million) coming from overseas markets, according to its most recent earnings report.

Editor: Martin Kadiev