(Yicai Global) Aug. 1 -- Huadong Medicine will invest USD30 million in MediBeacon to secure exclusive rights to the US medical device maker's product portfolio in China and across Asia.

The investment will give the Hangzhou-based drugmaker an 8.1 percent stake in MediBeacon and sole commercialization rights for all its products in 25 countries including China, Singapore, Thailand and Malaysia, Huadong Medicine said in a statement today.

St. Louis-based MediBeacon's noninvasive optical sensor products will allow Huadong to provide doctors with more precise diagnostic and treatment tools in fields such as kidney disease, organ transplantation and diabetes. The deal will also drive market adoption of MediBeacon's technology in China.

Huadong Medicine's share price [SHE:000963] fell 2.2 percent today to CNY26.92 (USD3.90), giving it a market capitalization of CNY47.1 billion (USD6.82 billion). The benchmark Shenzhen Composite Index lost 0.6 percent.