Medtronic Expands Renal Disease Focus With Bellco Buy
This article was originally published in The Gray Sheet
Executive Summary
Medtronic has bought Bellco Health, adding the Italian company's hemodialysis products to its recently-formed Renal Care Solutions division.
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China Medical divests ultrasound biz: China Medical Technologies divests its high-intensity focused ultrasound (HIFU) tumor therapy business to shareholder Chengxuan International for $53.5 million in order to refocus on in vitro diagnostics. Xiaodong Wu, who is both CEO of CMT and owner of Chengxuan, did not take part in deliberations over the sale, which was approved by CMT's independent board members, CMT notes. Announced Dec. 31, the move reflects pressures on the HIFU business from the global financial crisis, stricter regulations on medical equipment by China's State FDA, and the financial burden involved in obtaining U.S. and EU regulatory approvals for HIFU equipment, CMT explains. Beijing-based CMT recently acquired a human papillomavirus genotyping assay for $345 million, which it expects will generate up to $26.5 million in sales this year; the company will use the proceeds from the HIFU sale to further develop its molecular diagnostics business (1"The Gray Sheet" Oct. 13, 2008, p. 8)
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Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.