SUBSCRIBERS
Argon Medical Devices is latest US health firm to get dose of Chinese funds
Add BT as a preferred sourcePublished Mon, Sep 25, 2017 · 09:50 PM
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
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.
Share with us your feedback on BT's products and services
