Illinois-based Fenwal and Golden Meditech Holdings of Hong Kong have inked an agreement to form a Chinese joint venture that will sell products and technologies for blood collection, storage and transfusion. The companies anticipate the JV, which will likely be named Fenwal Jingjing Medical Technologies, will form later this year after receiving customary commercial and regulatory approvals.
The JV will maintain an existing Fenwal office in Shanghai and establish a new operating subsidiary in Beijing, from which it will serve customers throughout China. Initially, Fenwal Jingjing will sell and distribute the Fenwal Amicus blood-cell separator, a system used to collect platelets and other blood components such as stem cells, and the 3000H plasma exchange system, which removes toxins from the blood. The venture also will distribute related supplies and medical accessories to blood banks, cord blood banks and other medical institutions. Fenwal will own 51 percent of the new venture, and Golden Meditech will own 49 percent.
"Fenwal is a global pioneer and leader in advanced blood technologies," said Kam Yuen, Golden Meditech's chairman and CEO. "Our combined strength and experience will facilitate the advancement of blood collection and transfusion medicine in China, while offering solutions that are tailored to the Chinese medical sector to better serve patients."
- get the joint Fenwal-Golden Meditech release