Investment group Blackstone has invested in China-based medical device manufacturer Xinrong Best Medical Instrument.

Blackstone

The investment is likely to be around $100m, reported fiercemedicaldevices.com.

Xinrong Best Medical Instrument founder Zhenglin DING said: "Since Xinrong was founded in 2000, we have developed high quality medical devices, capturing a solid share of the domestic market."

Xinrong Best Medical Instrument produces orthopedic implants for trauma, spine, and joint applications.

Blackstone senior managing director Yi LUO said that Xinrong’s founders have built a strong business producing high quality products through a solid network of distributors across China.

"With China’s aging population and increasing disposable income, the market growth for orthopedic implants is significant," LUO added.

According to Boston Consulting Group, the Chinese orthopedic implant market is expected to reach $4.1bn by 2020 from $1.3bn in 2013, which represents an 18% compound annual growth rate.

In 2007, funds managed by Blackstone invested in Biomet, a medical device manufacturer, as well as owns a stake in DJO that specialized in orthopedic products for rehabilitation, pain management, and physical therapy.


Image: Blackstone’s headquarters at 345 Park Avenue, midtown Manhattan, New York City. Photo: courtesy of Americasroof.