Medtronic has purchased all the assets of China Kanghui, a provider of orthopedic devices, for $816m in cash.
China Kanghui’s new commercial products include trauma, spine and joint reconstruction, designed to improve health outcomes in patients.
Medtronic restorative therapies group executive vice president and president Chris O’Connell said the acquisition will allow the company to expand its orthopedics segment in China.
"Kanghui is an excellent fit for Medtronic, accelerating our corporate strategies of globalization and economic value through a leading presence in China, a strong orthopedics product portfolio, and an exceptional management team," O’Connell added.
Medtronic Kanghui business unit vice president and president Libo Yang said, "We look forward to leveraging the scale and expertise of Medtronic to pursue growth opportunities in China and other emerging markets, as well as bringing our leading position, strong sales and marketing teams, and local manufacturing and R&D to the combined organization."