Beijing, [date 2012] – Actis, the pan-emerging markets private equity firm, has made a significant minority investment in Nanjing Micro-Tech, a supplier of specialised medical consumables to Chinese and international hospitals.
Nanjing Micro-Tech was founded in 2000 and is headquartered in Nanjing. It has grown to become the largest local player in the Chinese endoscopy consumable sector and also holds the leading market position in non-vascular stents and disposable biopsy forceps in China. Nanjing Micro-Tech has the largest local distribution network with approximately 120 distributors and particular strength in Jiangsu, Shanghai, Zhejiang and Shandong.
The healthcare sector is increasingly attractive to Actis. An ageing population, changes in lifestyle, increasing income and better insurance coverage, are driving demand for high quality medical products and services. The global endoscopy consumable sector was a US$4.4bn market in 2011 and is expected to reach US$7.6bn in 2017 with 9.4% CAGR, much higher than the overall global GDP growth and global medical device industry growth. The endoscopy consumable sector in China is expected to achieve 20% CAGR in the next five years.
Meng Ann Lim, Head of China and South East Asia at Actis, said: “Nanjing Micro-Tech is the number one domestic player in the Chinese endoscopy consumable market; it has built up a loyal following of doctors thanks to the consistently high quality of its products, the reach of its distribution base and its record of innovation; in 2011 it was awarded Second Prize for National Science and Technology Development. We see great potential in the Chinese healthcare sector and look forward to working with Mr. Leng and the team, with whom we share a clear vision of the future for Nanjing Micro-Tech.”
Derong Leng, CEO and Co-Founder of Nanjing Micro-Tech, said: [“Nanjing Micro-Tech has grown steadily over the last 12 years. Our partnership with Actis will take us to the next stage, equipping us with a clearer strategy, a more professionalised management team, and other routes of business expansion. We are very proud of the reputation we have built and the faith doctors and patients have in our products.”
About Actis
Actis invests exclusively in the emerging markets with a growing portfolio of investments in Asia, Africa and Latin America; it currently has US$5 billion funds under management. Combining the expertise of over 100 investment professionals on the ground in nine countries, Actis identifies investment opportunities in three areas: private equity, energy and real estate. Actis is strongly committed to China with close to US$1 billion invested in leading Chinese businesses. Actis is proud to actively and positively grow the value of those companies in which it invests and in so doing contribute to broader society.
