Johnson & Johnson (China) Investment Ltd. has announced it has acquired Guangzhou Bioseal Biotechnology Co., Ltd. designers, developers and commercialisers of a porcine plasma-derived biologic surgical haemostat. Financial terms of the transaction are not being disclosed.
This is the first medical device acquisition for Johnson & Johnson(China). The corporation has been doing business in China for more than 25 years, including establishing a new innovation center in China last year to design and develop medical devices and diagnostic products specifically for Asia’s emerging markets. The company says this acquisition reinforces its long-standing commitment to providing medical solutions in Asia that help to improve the standard of health care for millions of people in the region.
The acquisition of Bioseal will complement Ethicon’s existing biosurgery portfolio and will allow the business to immediately enter the fibrin sealant market in China, broaden product offerings and create an opportunity to increase global reach by introducing advanced biologic solutions that meet the various needs of more physicians and patients, throughout Asia and around the world.
Bioseal manufactures a porcine-derived fibrin sealant, BIOSEAL™, currently the only porcine plasma-derived fibrin sealant approved for use in China. Fibrin sealants are used by surgeons as an adjunct to hemostasis for use in patients undergoing surgery, when control of bleeding by standard surgical techniques is ineffective or impractical.
According to a press release issued today, Bioseal will work closely with J&J subsidiary business, Ethicon, Inc., which already offers the world’s most complete line of absorbable haemostats. The intent is to use Bioseal technology to compliment the range by offering a solution for sealing and joining structures as well as potentially enhancing healing.
“This transaction reinforces our commitment to China and delivering innovative medical device solutions to the Chinese market,” said Xie Wen Jian, President of Johnson & Johnson Medical China. “We are very pleased to add the Bioseal™ brand to our growing portfolio of haemostasis products in China and we look forward to working with our new Bioseal colleagues to bring their innovative products to more physicians and patients.”
“By adding Bioseal to the existing line of Ethicon hemostasis products sold in China, we aspire to shape the broader biosurgery market in Asia by providing physicians and their patients with an even greater variety of innovative and clinical-based solutions to address bleeding, sealing and leaking challenges,” said Michael del Prado, Company Group Chairman, Johnson & Johnson Medical Asia Pacific.
SOURCE Johnson & Johnson (China) Investment Ltd., PR Newswire-Asia