Shandong Weigao Group, a medical device company, will acquire Argon Medical Devices of Texas for $850 million. Shandong Weigao primarily makes single-use products while Argon develops specialty medical devices for interventional procedures. Participating in the transaction was an unnamed PE firm that will provide a $420 million loan and own 10% of a JV that holds Argon. Weigao said it anticipates using Argon as a platform to export its products.
Source: ChinaBio Today
