China Kanghui Holdings (NYSE:KH), a Chinese orthopedic implant maker that went public on the New York Stock Exchange last year, bought out a majority stake of a fellow Chinese implant maker, a move China Kanghui said will make it a player in both the Chinese and international markets by 2014.

The Changzhou, China-based device company said in a regulatory filing that it picked up a 60 percent interest in Beijing Wei Rui Li Medical Device Co. Ltd., a maker of hip and knee systems.

“Today’s announcement is a key component of our plan to launch a full line of reconstruction products in China and in international markets over the next three years,” Libo Yang, China Kanghui’s CEO, said in a prepared release. “With this acquisition, we expect to launch our first joint implant product into the Chinese market by early 2012, which offers Kanghui another driver for future growth.”

Chen Yu, the company’s chief business officer, added that with the deal the company is “putting the pieces in place to address this compelling and under-served market. By offering a full range of joint reconstruction products, including those that are US FDA approved, we intend to become a leader in this critical segment of the orthopedic market both in China and our international markets.”

Shares of Khanhui went public back in August 2010 at $12.10 per share, hitting a high-water mark of $22.79 in December before settling back in around $17.

Kanghui pulled in just under $37 million during 2010, a 32 percent increase from the same period last year. The jump boosted the company’s net income to $15.1 million, a 33 percent increase from the $11.4 million the company pulled in during 2009.

The company is also well-funded, with more than $38 million in cash reserves in its coffers.