Argon Medical Devices is latest US health firm to get dose of Chinese funds
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SHANDONG Weigao Group Medical Polymer Co agreed to buy closely held Argon Medical Devices Inc for US$850 million, continuing a string of deals by Chinese companies seeking to gain a foothold in the US healthcare market.
Shandong Weigao made the acquisition through a joint venture with a private equity-backed firm that will control 10 per cent, according to a statement to the Hong Kong stock exchange. The venture will fund US$420 million of the purchase with debt, the company said without identifying the private-equity firm.
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