Vivo Capital and ZQ Capital have signed an agreement to acquire medical devices maker Angiotech Pharmaceuticals (Canada) for an undisclosed sum.

Under the deal, the investment syndicate, which also includes GSO Capital Partners, China Orient Asset Management (International) Holding and Fung Shing Investment, will purchase complete shares of Angiotech.

Angiotech is engaged in the development of branded, private label and OEM surgical instrument products.

The company produces products such as blades and sutures, including Quill knotless tissue-closure device.

Angiotech, which provides services to the specialty surgery market, has partnerships within dental, ophthalmic, plastic surgery, dermatology, orthopedics, urology, microsurgery, veterinary and trauma specialties.

With about 2,000 employees and operations in around80 countries, the company operates manufacturing facilities in England, Puerto Rico, Mexico and Germany.

The deal is expected to complete in the first quarter of 2017.

ZQ Capital chairman Simon Shen said: "We believe that Angiotech fits perfectly with our growth strategy and are excited to welcome the Company and its strong management team and employees to our portfolio.

“We are honored to have the opportunity to partner with the Company to further enhance its comprehensive product offerings and markets and to expand its influence and benefits to millions of patients worldwide, including in China."

Angiotech Pharmaceuticals CEO John Barr said: “I would first like to thank our customers for their continued support of Angiotech. We remain committed to continuing to improve our ability to service those customers.”