By Rajdeep Sardesai, TechCrunchIndiaA deal between US and Japanese medical equipment maker Mizuhos could help the company better compete with other Chinese manufacturers.
Mizuhoes medical equipment is seen as a key part of its efforts to expand its global sales base.
In a filing with the US Securities and Exchange Commission, Mizuhoz said it has a right to acquire a minority interest in the company.
Mizhos shares have been hovering near $100 for months.
“Mizuhos medical instruments are an important market segment for our company,” said Dr Ravi Bhatia, CEO of Mizuhoos medical equipment company.
“We have developed and manufactured a broad range of medical instruments including medical grade surgical instruments, trauma devices, wound care products and others that have helped our company to remain competitive.”
Mizhos medical products include a range of surgical instruments including surgical blades, surgical instruments with a flexible plastic cover, surgical gloves and surgical mask, surgical devices with a metal cover and other surgical devices.
The company has also been developing its own line of surgical devices for use in trauma patients.
The deal is expected to be completed in the next two months, the company said.
Mizu said it would invest $3 billion to expand the company’s medical device business, which it said grew to more than $1 billion in 2015.
Under the deal, Mizhoz would acquire Mizhoos medical products, Mizuzhi Medical Instruments will acquire Mizuzhuis, and Mizuhoe will acquire both companies.
While it does not say how much the companies will spend on the acquisition, Mizuys share price was up 0.2 percent in morning trading.