China Biologic to Acquire TianXinFu, a Device Company, in $536 Million Deal
China Biologic Products, a plasma company headquartered in Beijing, will acquire an 80% interest in TianXinFu (Beijing) Medical Appliance in an all-stock deal worth $536 million. According to China Biologic, TianXinFu is China’s largest maker of biomaterial scaffolds, which aid new tissue regeneration and organ repair. China Biologic will issue 5.5 million shares to PW Medtech to pay for the acquisition. Its stock price fell almost 15% after the deal was announced.
Source: China Biotoday