London-based Smiths Group has expanded its presence in the Chinese healthcare market with the acquisition of Zhejiang Zheda Medical Instrument (ZDMI), a Hangzhou-based medical instruments manufacturer.
ZDMI employs 110 staff and manufactures syringe pumps and enteral feeding devices primarily for the growing Chinese healthcare market.
In the last calendar year it posted sales of RMB72.7m (£7.2m).
Srini Seshadri, president of Smiths Medical, said: ‘This acquisition effectively expands our access to the rapidly expanding market in China and provides Smiths Medical with excellent opportunities to drive growth at a global level by leveraging ZDMI’s strong product lines and cost base.
‘ZDMI’s product range complements our existing portfolio of infusion devices and will benefit from Smiths Medical’s global sales network, providing further opportunities for growth.’
In 2007, Smiths Medical opened a new headquarters for Greater China in
This latest acquisition signals an increase in Smiths Medical’s investment in the region.