China’s Shinva Medical Instrument Co., Ltd (SHA: 600587) has announced its intention to acquire a significant stake in Wuhan Zhongzhi Biotechnologies Inc. (836834), purchasing 36.1913% of the company’s shares for RMB166.5 million (USD22.8 million).
Zhongzhi Bio’s Focus on RNA Molecule IVD Kits
Founded in 2011, Zhongzhi Bio is a company dedicated to the research and development, marketing of RNA molecule in vitro diagnostic (IVD) kits, and associated instruments and consumables. Their product range encompasses respiratory infection pathogen detection, reproductive tract infection pathogen detection, and intestinal infection pathogen detection series products, catering to a broad spectrum of diagnostic needs.
Enhancing Shinva’s IVD Product Pipeline and Competitiveness
Through this strategic acquisition, Shinva Medical expects to significantly bolster its IVD product pipeline, thereby enhancing its overall competitiveness in the medical diagnostics market. The move is seen as a step towards expanding the company’s footprint in the IVD sector and capitalizing on the growing demand for advanced diagnostic solutions.-Fineline Info & Tech
