Singapore, Sept. 13, 2022 (GLOBE NEWSWIRE) —
The acquisition provides Advanced MedTech with a medical device platform for emerging markets that aligns with China’s local medical device manufacturing strategy. It will meet domestic demand in China, the world’s second-largest and fastest-growing healthcare market, and supply other global emerging markets.
Integrated urology leader Advanced MedTech Holdings (AMTH or the Group) announced the acquisition of a majority stake in WIKKON, the Chinese market leader in urology and shockwave therapy devices. AMTH plans to acquire the remaining shares of WIKKON by the end of 2022. Based in the technology hub of Shenzhen, also known as Silicon Valley in China, WIKKON specializes in developing and manufacturing solutions to process urological and orthopedic conditions such as kidney stones, erectile dysfunction and joint, muscle or tissue pain.
Founded in 1996, WIKKON has the largest installed base of over 6,000 urology treatment devices in China and strong relationships with healthcare professionals. The acquisition will significantly strengthen AMTH’s direct presence in China.
By combining the German engineering strength of Dornier MedTech, a 100% subsidiary of AMTH, with the innovation capabilities of WIKKON, AMTH will be able to offer physicians access to an expanded product portfolio and build a high-potential platform for the development of a global value segment in urology.
With China’s focus on domestic sourcing for key medical devices and its large domestic market, AMTH is well positioned to serve the expanded needs of the world’s second-largest and fastest-growing healthcare market with a further localization of R&D and manufacturing capabilities. WIKKON’s products are used in more than 40 countries in Asia-Pacific and the rest of the world, providing AMTH with a solid platform to better serve the needs of global emerging markets from WIKKON’s base in Shenzhen.
Abel Ang, Managing Director of Advanced MedTech Group, said: “We are now ideally placed to expand aggressively into the important China market, which is best served by domestically manufactured devices. Advanced MedTech’s integrated urology platform is accelerated by WIKKON’s significant R&D, manufacturing, supply chain and installed unit base. Our newly combined portfolio will allow us to serve urology customers looking for value-oriented solutions to high-end oriented customers worldwide. »
Chen Ming, Founder and Chairman of WIKKON, said: “We are delighted to be part of the Advanced MedTech group. By combining our expertise in innovative technology, research and reach, we will be able to significantly expand our solutions to healthcare professionals worldwide.
About Advanced MedTech Holdings
Advanced MedTech Holdings is a global leader in medical technology with a particular focus on urology devices and contract manufacturing services. The Group serves millions of patients and doctors in 100 countries around the world. Advanced MedTech Holdings makes strategic investments in disruptive medical technology companies, strengthening its portfolio of healthcare solutions for customers around the world. Advanced MedTech Holdings is a wholly owned subsidiary of Temasek.
For more information, visit https://www.advanced-medtech.com.
About Dornier MedTech
Dornier MedTech is a medical device company headquartered in Munich, Germany, and is a wholly owned subsidiary of Advanced MedTech. As the pioneers of the shock wave lithotripsy method and a leader in urological care, Dornier is one of the most trusted names in the industry. With its deep-rooted spirit of entrepreneurship and excellence, Dornier continues to spearhead innovation in urology, developing some of the highest quality urology devices on the market today. Given its wide range of customers, Dornier is at the forefront of technology and improving lives around the world.
For more information, visit https://www.dornier.com.
WIKKON (Shenzhen Wikkon Precision Instruments Co., Ltd.) is a high and new technology enterprise with research, engineering and manufacturing capabilities of medical devices, based in Shenzhen, China. Founded in 1996, WIKKON is dedicated to innovation in the field of Extracorporeal Shockwave Lithotripsy (ESWL) for Kidney Stone Removal, Extracorporeal Shockwave Therapy (ESWT) for Erectile Dysfunction and Relief joint pain and the urological imaging table for all medical examinations. and procedures.
For more information, visit https://eswl.com/
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