J&J nabs its 1st Chinese device maker | Wall Street Beat

May 3, 2012 by MassDevice staff

Johnson & Johnson acquires its 1st Chinese medical device maker; Aethlon expects $1.4M in full-year revenues; Washington group pushes women's pelvic health; Invest in R&D, survey says; plus, GPO deals, a Funding Roundup and analysts' ups and downs.

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Health care giant Johnson & Johnson (NYSE:JNJ) made its 1st acquisition in China this week, picking up Guangzhou Bioseal Biotech for an undisclosed amount.

J&J has been doing business in China for more than 25 years, including last year's launch of a medical device and diagnostics innovation center there.

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"This transaction reinforces our commitment to China and delivering innovative medical device solutions to the Chinese market," J&J's Chinese medical president Xie Wen Jian said in prepared remarks. "We are very pleased to add the Bioseal brand to our growing portfolio of hemostasis products in China and we look forward to working with our new Bioseal colleagues to bring their innovative products to more physicians and patients."

Bioseal developed a sealant used to control bleeding during surgery, the only porcine plasma-derived fibrin sealant approved for use in China, according to a press release.

The newly acquired company will work alongside J&J's Ethicon subsidiary, which already markets its Surgical and Surgiflow biosurgery products in China.