Johnson & Johnson Makes First Device Co. Purchase in China
Posted on May 8, 2012 @ 11:15 am
Medical device powerhouse Johnson & Johnson (JNJ) just purchased its first Chinese medical device maker, Guangzhou Bioseal Biotech. The deal was finalized after it received all the appropriate Chinese government approvals, but the terms of the deal were not disclosed.
“This transaction reinforces our commitment to China and delivering innovative medical device solutions to the Chinese market," said Xie Wen Jian, president of JNJ China medical. "We are very pleased to add the Bioseal brand to our growing portfolio of hemostasis products in China and we look forward to working with our new Bioseal colleagues to bring their innovative products to more physicians and patients."
Bioseal manufactures a porcine-derived fibrin sealant, named Bioseal, currently the only porcine plasma-derived fibrin sealant approved for use in China. Fibrin sealants are used by surgeons alongside hemostasis for use in patients undergoing surgery, when control of bleeding by standard surgical techniques is ineffective or impractical.
JNJ company Ethicon, which produces a line of hemostats, will work closely with Bioseal, company officials said.
"By adding Bioseal to the existing line of Ethicon hemostasis products sold in China, we aspire to shape the broader biosurgery market in Asia by providing physicians and their patients with an even greater variety of innovative and clinical-based solutions to address bleeding, sealing and leaking challenges,” said Michael del Prado, company group chairman of JNJ Medical Asia Pacific.
Johnson & Johnson (China) Investment Ltd., the branch of JNJ that announced and handled the acquisition, is a foreign investment entity established in China by JNJ in 1998.
Ethicon, based in Somerville, N.J., produces surgical care products in the wound closure; general surgery; wound management; biosurgicals; women's health and urology; aesthetic medicine; and ear, nose and throat sectors.
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