09.29.14
U.S. private equity firm Blackstone Group L.P. has invested a reported $100 million in Xinrong Best Medical Instrument Co., an orthopedic implant manufacturer in China focusing on trauma, spine and joints.
“Since Xinrong was founded in 2000, we have developed high quality medical devices, capturing a solid share of the domestic market,” said Zhenglin Ding, one of the founders of Xinrong. “With increasing demand, it is the right time to bring in Blackstone, with their global experience in this sector and expertise in helping entrepreneurs to take their businesses to the next level.”
“Xinrong’s founders have built a strong business producing high quality products through a solid network of distributors across China,” said Yi Luo, senior managing director of Blackstone. “With China’s aging population and increasing disposable income, the market growth for orthopedic implants is significant. Together with the founders, we will strive to develop the best local expertise, maintain an international standard of technology, and increase the market share by enlarging the scale of our business.”
The Boston Consulting Group projects the total China orthopedic implant market to grow from $1.3 billion in 2013 to reach $4.1 billion in 2020, representing an 18 percent compound annual growth rate, driven by aging population, increasing disease prevalence, improving treatment rate, and growing affordability.
“Since Xinrong was founded in 2000, we have developed high quality medical devices, capturing a solid share of the domestic market,” said Zhenglin Ding, one of the founders of Xinrong. “With increasing demand, it is the right time to bring in Blackstone, with their global experience in this sector and expertise in helping entrepreneurs to take their businesses to the next level.”
“Xinrong’s founders have built a strong business producing high quality products through a solid network of distributors across China,” said Yi Luo, senior managing director of Blackstone. “With China’s aging population and increasing disposable income, the market growth for orthopedic implants is significant. Together with the founders, we will strive to develop the best local expertise, maintain an international standard of technology, and increase the market share by enlarging the scale of our business.”
The Boston Consulting Group projects the total China orthopedic implant market to grow from $1.3 billion in 2013 to reach $4.1 billion in 2020, representing an 18 percent compound annual growth rate, driven by aging population, increasing disease prevalence, improving treatment rate, and growing affordability.