Medtronic, Philips Make DealsMedtronic, Philips Make Deals
Medtronic is making a play for the Asian spinal market. It has agreed to buy a 15% stake in Shandong Weigao Group Medical Polymer Co. for $221 million, reports Bloomberg News. The firms have formed a joint venture to market spinal products and orthopedics in China.
December 18, 2007
Right now only 7% of China's population is over 65, but that number is expected to increase to 20% by 2040, making the orthopedics market there potentially very lucrative.Meanwhile, Philips Medical Systems said it would buy Visicu (Baltimore), a clinical IT company, for about $430 million. Visicu has remote patient monitoring and clinical decision support technology that can be integrated with Philips' patient monitors. This could allow hospitals to monitor greater numbers of clinically ill patients while receiveing better clinical decision support.Â
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