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Company

Shanghai Kinetic Medical injects RMB495mln to purchase US orthopedic medical equipment company

June 05, 2018


Abstract : Shanghai Kinetic Medical (300326.SZ) announced on late Monday that it plans to invest 77.15 million U.S.dollars (about 495 million yuan) via its wholly-owned subsidiary to purchase 100 percent stakes of Elliquence, LLC.

BEIJING, June 5 (Xinhua) -- Shanghai Kinetic Medical (300326.SZ) announced on late Monday that it plans to invest 77.15 million U.S.dollars (about 495 million yuan) via its wholly-owned subsidiary to purchase 100 percent stakes of Elliquence, LLC.

Established in 1999, Elliquence is a U.S. company specializing in the development and production of high-frequency cryogenic, anatomical and coagulation technologies. Currently, Elliquence is mainly engaged in the development, production, and sales of surgical energy platforms and high-value consumables. The product is mainly used for the treatment of disc herniation and painful intervertebral disc tear, the company's technology platform can also be widely used in orthopedics, spine, neurosurgery, plastic surgery and pain management and other fields.

According to the announcement, at present, Elliquence's core products have been approved by FDA, CE, CFDA, etc. and the company owns these products' intellectual property rights. The company’s product sales area includes North America, Asia, Europe, South America and Africa.

(Edited by Ma Xin, [email protected]

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