MINNEAPOLIS (AP) — Medtronic Inc. will buy China Kanghui Holdings for $816 million, helping it expand in one of the world's fastest growing medical device markets.
Medtronic, the world's largest maker of medical devices, is paying $30.75 for each share of Kanghui Holdings, a 22 percent premium to the stock's closing price Thursday. Net of Kangui's cash, the transaction is valued at $755 million.
China Kanghui Holdings makes orthopedics devices, specializing in trauma, spine and joint reconstruction. The company earned net income of $18.9 million in 2011 as revenue rose 35 percent to 327 million yuan ($51.4 million). Medtronic said late Thursday the company has a large product portfolio, strong research and development, and manufacturing operations, and a large distribution network.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
