Chengdu Kanghong inks $47.62 Mln deal with Israeli opthalmic firm

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Chengdu Kanghong Pharmaceutical Group said in a statement that it has signed equity acquisition documents with IOPtima Ltd., an Israeli Ophthalmic medical instrument company, concluding a US$47.62 million deal in early October, Yicai.com reported.

Chengdu Kanghong will obtain the Israeli firm’s exclusive distribution rights of its IOPtiMate TM surgical system for the treatment of Glaucoma.

Chinese pharmaceutical companies have begun to turn the ‘One Belt One Road’ policy into a reality with foreign investment.

In October, Shanghai Fosun secured a 74% stake in Gland Pharma, an Indian pharmaceutical firm, which is the largest merger & acquisition made by a Chinese company in the medical sector.

According to the latest report released by PwC, the total amount of China’s top ten M&As involving medical companies in OBOR countries reached US$2.55 billion over the past three years.

So far, there are 134 cases of M&As involving Chinese pharmaceutical enterprises, for a total of US$10.58 billion from 2014 to 2017.

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