China’s Mindray to Invest USD159 Million in Takeover of Germany’s DiaSys Diagnostic(Yicai) Aug. 1 -- Mindray Bio-Medical Electronics said the Chinese medical devices maker will improve its overseas business layout and product competitiveness by investing EUR145 million (USD159 million) to acquire a controlling interest in DiaSys Diagnostic Systems and boost the German firm’s capital.
Mindray Medical Netherlands inked two deals with DiaSys Diagnostic’s shareholder Gorka Holding on July 29 to buy 75 percent of the in-vitro diagnostics products and solutions provider for EUR115 million in cash, its Shenzhen-based parent company said late yesterday. Gorka will retain the rest.
Mindray and Gorka will also increase DiaSys Diagnostic’s capital by EUR40 million (USD43.9 million), with the Chinese firm providing EUR30 million of that, it noted.
The acquisition will help Mindray achieve breakthroughs in developing clients of medium and large sample volume, acquire a top overseas team in the in-vitro diagnostics area, improve collaboration among its in-vitro diagnostics, quality control, and calibration products and enhance product competitiveness, it said.
Established in 1991, Holzheim-based DiaSys Diagnostic researches, develops, and manufactures equipment and instruments for in-vitro diagnostics and biochemistry and has production bases and teams in Europe, the Asia Pacific, and Latin America, Mindray said.
DiaSys Diagnostic’s had a net profit of EUR4.7 million (USD5.2 million) in the fiscal year ended September 2022 on revenue of EUR72.8 million, Mindray said. Unaudited net profit was EUR1.1 million in the fiscal first half, with unaudited revenue of EUR34 million.
Before the transaction, DiaSys Diagnostic will spin off its units DiaSys Technologies France and peS, which mainly research and develop in-vitro diagnostic equipment because their business differs from Mindray’s and they have little complementarity, according to the deal.
Mindray’s shares [SHE: 300760] fell 0.3 percent to close at CNY295.24 (USD41.20) each in Shenzhen today, after gaining by as much as 2.2 percent in the morning.
Editor: Martin Kadiev
