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AMTH to Strengthen Position in Urology Through M&A
The company said it is acquiring Wikkon, a firm that specializes in the development of solutions to treat urological and orthopedic conditions such as kidney stones.
September 14, 2022
2 Min Read
Image courtesy of designer491 / Alamy Stock Photo
Advanced MedTech Holdings (AMTH or the Group) announced the acquisition of a majority interest in Wikkon, a specialist in urology and shock wave therapy devices. AMTH said it expects to acquire the remaining shares of Wikkon by the end of 2022. Based in the tech hub of Shenzhen, also known as China’s Silicon Valley, Wikkon specializes in the development and manufacturing of solutions to treat urological and orthopedic conditions such as kidney stones, erectile dysfunction and joint, muscle or tissue pain.
Established in 1996, Wikkon has the largest installed base of over 6,000 urology treatment devices in China and strong relationships with healthcare professionals. The acquisition will significantly strengthen AMTH’s direct presence in China.
Combining the German engineering strength of Dornier MedTech, AMTH’s wholly owned subsidiary, with the innovative capabilities of WIKKON, AMTH will be able to offer physicians access to an expanded product portfolio and build up a high potential platform for the development of a global value segment in urology.
With China’s focus on domestic sourcing for key medical devices and its sizeable domestic market, AMTH said it is well-positioned to serve the expanded needs of the world’s second largest and fastest growing healthcare market with deeper localization of R&D and manufacturing capabilities. Wikkon's products are in use across more than 40 countries in Asia Pacific and the rest of the world, giving AMTH a strong platform to better serve the needs of global emerging markets from Wikkon's base in Shenzhen.
Abel Ang, Group Chief Executive of Advanced MedTech, said: “We are now uniquely placed to aggressively grow in China’s sizeable market, which is best served by domestically produced devices. Advanced MedTech’s integrated urology platform is accelerated by Wikkon's significant R&D, manufacturing, supply chain, and installed base of units. Our newly combined portfolio will allow us to serve urology customers seeking value oriented solutions right through to premium oriented customers globally.”
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