Fenwal and Golden Meditech in Chinese JV
This article was originally published in Clinica
Blood collection specialist Fenwal and bloodbanking firm Golden Meditech are to form a joint venture focused on exploiting the fast-growing Chinese medical market. The partnership will focus on the sale and distribution of both companies’ blood collection and transfusion products in China, including Fenwal’s Amicus cell-separation system for collecting platelets and Golden Meditech’s 300H plasma exchange system, for removing toxins from patients’ blood. The JV, which will be headquartered in Beijing, is expected to become operational in early 2010 after completion of a definitive agreement between the two firms. According to Lake Zurich, Illinois-based Fenwal, it will hold a 51% stake in the JV, whereas Golden Meditech (Hong Kong) will own 49%. Financial terms of the partnership were not disclosed.