Baird Capital invested in the Chinese medical device supplier Kedu Healthcare, sending over a new board member as part of the deal. The healthcare investment firm kept quiet about the amount of cash involved in the deal.
Kedu is a 7-year-old company founded by a former GE (NYSE:GE) executive, offering medical device equipment services in China. The company now supplies more than 10,000 Chinese hospitals, and Baird invested to help Kedu expand its offering to include U.S. and European manufacturers
"We discovered that many U.S. and European healthcare instrument and equipment makers are finding it very difficult to provide quality maintenance service and spare parts to their hospital customers across China," Brett Tucker, the Baird partner who joined Kedu’s board as part of the investment deal, said in prepared remarks.
Kedu partners with many multinational healthcare original equipment manufacturers and the company’s network extends to more than 400 service and sales engineers in China, according to the release.