The fund aims to back both Chinese startups with the legs for global markets and companies outside China with products that could succeed there, according to the China Money Network.
Suzhou-BioBay, a life sciences incubator, also joined the Medtronic-Sequoia China Healthcare Technology Venture Investment Fund as a limited partner, according to the website.
“This fund is Medtronic’s 1st early-stage investment vehicle established outside of our home country,” CEO Omar Ishrak said, according to CMN. “Our hope is to support innovation to meet the increasing demand in China’s healthcare market.”
Steve MacMillan took over as CEO of Hologic in 2013, drawing on his experience at medtech titans like Stryker and Johnson & Johnson. Since then, Hologic has grown into a $3 billion business.
At DeviceTalks Boston, MacMillan will provide exclusive insights into the Massachusetts-based company and its evolving definition of women's healthcare. You don't want to miss it!
Use code WOMENSHEALTH to save an additional 10%.