China-based Shanghai Haohai Biological Technology Co. Ltd (HKG: 6826), a leading biomaterial firm focused on ophthalmology, medical aesthetics, wound care, orthopedics, and anti-adhesion and hemostasis, has announced the acquisition of a 20% stake in compatriot firm Shenzhen New Industries Material of Ophthalmology Co., Ltd (SZNIMO) for a consideration of RMB 140 million (USD 20.59 million). This strategic move further solidifies Haohai Bio’s position in the ophthalmic market.
SZNIMO: Market Presence and Distribution
SZNIMO is engaged in the distribution of intraocular lenses, ophthalmic viscoelastic agents, sodium hyaluronate gel for glaucoma surgery, and other imported products in the Chinese mainland. It is the sole agent of Lenstec (Barbados) Inc., a main supplier of imported intraocular lens products in China. This acquisition will enhance Haohai Bio’s distribution network and product portfolio in the ophthalmic sector.
Haohai Bio’s Market Position
Haohai Bio, having previously acquired a 60% stake in SZNIMO, now becomes one of the leading manufacturers of artificial lenses in China through this transaction. The company’s expanded ownership in SZNIMO will allow it to leverage SZNIMO’s market presence and distribution capabilities, further strengthening its position as a key player in the ophthalmic market.-Fineline Info & Tech
