In Vitro Diagnostic Industry in China - Clinical Chemistry XI

3.1.3 Investment and Financing of Biochemical Companies and Cooperation Between Companies in the Past 2 Years

In 2019-2020, the industry consolidation has driven the "chain reaction" of IVD industry and becomes a mainstream. However, because of many segments of the IVD in China, the scale is still relatively limited in the short term despite the rapid growth; moreover, there are many domestic and foreign manufacturers competing with each other in each sub-industry, thus, it is very difficult to obtain an absolute market share in a sub-industry. Therefore, the active development and horizontal merger can allow enterprises to have multiple growth points, which is an important choice for the continuous development of enterprises.

In 2020, BSBE acquired MXB, and optimized the allocation of resources in terms of market, channels, R&D and management on the basis of its original busi-nesses, to achieve mutual benefit and coordinated development.

Mindray has acquired HyTest, a world-renowned and first-class supplier of upstream raw materials for IVD. The company has original research and production capabilities in infectious diseases, inflammation, blood coagulation, etc. Through M&A, Mindray will strengthen the core R&D and construction of chemiluminescence products and raw materials, and promote the internationalization of in vitro diagnostic business.

In 2020, Zybio acquired Jiangsu Skyray Instrument Co., Ltd., which owns the core team of former Xiamen Mass Spectrometry, all its assets and intellectual property rights in 2020. It has enhanced the competitiveness of product structure and brought a challenge to the international brands. This strong alliance will improve the level of mass spectrometry technology and make greater contributions to the cause of human health.

In 2020, after years of R&D and accumulation, the technology transfer income has become a new profit growth point for Wantai BioPharm, for example, technological cooperation with GSK and technology transfer to Pasteur. On March 31 of the same year, Wantai BioPharm and JSR signed the Equity Transfer Agreement. Through this equity acquisition, JHT became a wholly owned subsidiary of Beijing Wantai.

In recent years, a number of A-share listed companies (including related biochemical-based listed companies) have successively implemented equity transfers, and the actual controllers of some listed companies have changed to state-owned assets management departments, such as Leadman, Runda, Daan, BSBE, Dirui, Getein.

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