Singapore, Sept. 13, 2022 (GLOBE NEWSWIRE) --
AMTH has acquired China’s market-leader in urology and shock wave therapy devices
Acquisition expands Advanced MedTech’s urological market access in China via a comprehensive nationwide sales & service network and an established local R&D, manufacturing & supply chain ecosystem
Acquisition provides Advanced MedTech with an emerging markets medical device platform which aligns with China’s local medical device manufacturing strategy. It will serve domestic demand in China, the world’s second largest and fastest growing healthcare market, and supply to other global emerging markets.
Integrated urology leader Advanced MedTech Holdings (AMTH or the Group) announced the acquisition of a majority interest in WIKKON, the Chinese market leader in urology and shock wave therapy devices. AMTH expects to acquire the remaining shares of WIKKON by the end of 2022. Based in the tech hub of Shenzhen, also known as China’s Silicon Valley, WIKKON specializes in the development and manufacturing of solutions to treat urological and orthopedic conditions such as kidney stones, erectile dysfunction and joint, muscle or tissue pain.
Established in 1996, WIKKON has the largest installed base of over 6,000 urology treatment devices in China and strong relationships with healthcare professionals. The acquisition will significantly strengthen AMTH’s direct presence in China.
Combining the German engineering strength of Dornier MedTech, AMTH’s wholly owned subsidiary, with the innovative capabilities of WIKKON, AMTH will be able to offer physicians access to an expanded product portfolio and build up a high potential platform for the development of a global value segment in urology.
With China’s focus on domestic sourcing for key medical devices and its sizeable domestic market, AMTH is well-positioned to serve the expanded needs of the world’s second largest and fastest growing healthcare market with deeper localization of R&D and manufacturing capabilities. WIKKON’s products are in use across more than 40 countries in Asia Pacific and the rest of the world, giving AMTH a strong platform to better serve the needs of global emerging markets from WIKKON’s base in Shenzhen.
Abel Ang, Group Chief Executive of Advanced MedTech, said: “We are now uniquely placed to aggressively grow in China’s sizeable market, which is best served by domestically produced devices. Advanced MedTech’s integrated urology platform is accelerated by WIKKON’s significant R&D, manufacturing, supply chain, and installed base of units. Our newly combined portfolio will allow us to serve urology customers seeking value oriented solutions right through to premium oriented customers globally.”
Chen Ming, Founder and Chairman of WIKKON, said: “We are excited to become part of the Advanced MedTech group. By combining our expertise on innovative technology, research and reach, we will be able to significantly expand our solutions to healthcare professionals all over the world.”
About Advanced MedTech Holdings Advanced MedTech Holdings is a global medical technology leader with a core focus in urology devices and contract manufacturing services. The Group serves millions of patients and physicians in 100 countries worldwide. Advanced MedTech Holdings makes strategic investments in disruptive medical technology companies, strengthening its portfolio of healthcare solutions for customers around the world. Advanced MedTech Holdings is a wholly owned subsidiary of Temasek. For more information, visit https://www.advanced-medtech.com.
About Dornier MedTech Dornier MedTech is a medical device company headquartered in Munich, Germany, and is a wholly owned subsidiary of Advanced MedTech. As pioneers of the shock wave lithotripsy method and a leader in urological care, Dornier is one of the most trusted names in the industry. Through its deep-rooted spirit of entrepreneurship and excellence, Dornier continues to spearhead innovation in urology, developing some of the highest quality urological devices on the market today. Given its vast array of clients, Dornier is leading technology and improving life across the globe. For more information, visit https://www.dornier.com.
About WIKKON WIKKON (Shenzhen Wikkon Precision Instruments Co., Ltd.) is a High and New Technology Enterprise with medical device research, engineering and manufacturing capabilities, based in Shenzhen, China. Founded in 1996, WIKKON is dedicated to innovation in the field of Extracorporeal Shock Wave Lithotripsy (ESWL) for kidney stone removal, Extracorporeal Shock Wave Therapy (ESWT) for erectile dysfunction and joint pain relief and Urology Imaging Table for all-purpose of medical exams and procedures. For more information, visit https://eswl.com/
Mizuho analyst Vijay Rakesh just lowered his price target on Nvidia, but if he's right it's a good buy from here.
Struggling Bed Bath & Beyond Inc. releases a list of dozens of stores it aims to close. Most of the stores on this list will close by the end of the month.
Amazon's founder and executive chairman was the world's richest man for several years before falling to second place.
In this article, we will take a look at the 10 Blue Chip Stocks to Buy Now According to Billionaire George Soros. To skip our analysis of George Soros’ profile, investment strategy, and 13F holdings, you can go directly to see the 5 Blue Chip Stocks to Buy Now According to Billionaire George Soros. George […]
FedEx has blown three tires before the peak holiday shipping season, and chatter on the Street is that mighty Amazon may have played a role.
Central banks are like “reformed smokers,” famed investor Stanley Druckenmiller says. “They’ve gone from printing a bunch of money, like driving a Porsche at 200 miles an hour, to not only taking the foot off the gas, but just slamming the brakes on.”
NIO Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $NIO performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
Income investors are always on the hunt for good stocks that for one reason or another have recently been out of favor, creating a scenario for a higher dividend yield along with possible future appreciation as the stock bounces back. Buying a stock on a decline sometimes involves a bit of courage, but the ability to lock in long-term higher yields makes the decision easier for most investors. At the moment, Medical Properties Trust Inc. (NYSE: MPW), a Birmingham, Alabama-based real estate inves
There was a sell-off in cardboard packaging stocks this morning, with shares of International Paper (NYSE: IP) down 9.4% at 10:30 a.m. ET on Friday, Packaging Corporation of America (NYSE: PKG) shares down 9.7%, and the stock of WestRock (NYSE: WRK) down 9.8%. Shares of FedEx (NYSE: FDX) plunged more than 22% this morning after the company issued an earnings warning predicated on softening global volume. The volume FedEx referred to was the number of packages wrapped in cardboard and shipped to customers.
After three months of highly volatile trading, which have seen the S&P 500 drop down toward 3,600, rally up to 4,300, and fall back down to 3,900, investors can be forgiven for feeling some whiplash. The question that needs answering, however, is where will the markets go from here? Morgan Stanley strategist Andrew Slimmon believes that investors shouldn’t worry too much about the bear case. Worse-than-expected inflation numbers for August may have pushed the markets into a tumble this week, but
Wall Street is on a roller coaster again, as investors try to navigate the path between high inflation and the Fed’s aggressive interest rate hikes. What we know for certain is that the S&P 500 is down 18% year-to-date, and the NASDAQ is down 26%. At least one investing expert, however, is getting on his soapbox to encourage investors to buy now, while prices are low. This is the view of Shark Tank investor Kevin O’Leary. The venture capitalist makes a case for investors to take advantage of vol
As bad the news was for FedEx, it may be worse news for the U.S. economy --- and an early sign of a recession.
Yahoo Finance Live anchors discuss stock performance for FedEx.
Alibaba Group Holding Limited stock is trending on the Yahoo Finance Platform. Here is a visualization of $BABA performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
It's no secret that investors are worried about runaway inflation. Cathie Wood and Elon Musk see deflation as the bigger threat.
There was no good news in the August inflation numbers. While the annualized rate did fall slightly from July, from 8.5% to 8.3%, it came in higher than expected – and worse, the core CPI rate, rather than dropping, increased to 6.3%. Consumers are struggling, and their pain is real. But it’s not only consumers who are getting hit hard by inflation. Retailers are also feeling the strain, and they’re feeling it twice – from consumers, whose wallets are pinched and so are buying less, and from the
Shares of enterprise software companies Datadog (NASDAQ: DDOG), Okta (NASDAQ: OKTA), and DocuSign (NASDAQ: DOCU) were plunging today, down 5.3%, 6%, and 7.2%, respectively, as of 2 p.m. EDT. Interest rates continued to rise this week after the fallout from Tuesday's inflation report. In addition, there have been several preannouncements from major companies that are hinting at a global recession.
FedEx turned in poor earnings results and slashed its revenue forecast on Thursday as the company’s CEO warned that a “worldwide recession” is likely coming.
Pound sinks to lowest since 1985 as retail sales slump Germany seizes control of three Russian-owned Rosneft oil refineries FTSE 100 falls 0.6pc Ben Marlow: Shell must accept it has lost the battle on fossil fuels Sign up here for our daily business briefing newsletter
Recent developments suggest business trends are getting worse---not better, meaning there could be more downside ahead.