Asian Scientist (Jul. 3, 2013) – Finnish healthcare company Biohit Oyj will set up a joint venture company to manufacture and sell GastroPanel kits in China.
GastroPanel is a non-invasive blood test that determines if the patient’s stomach is healthy. It also helps to prioritize patients with unhealthy stomachs for further examination.
The Chinese partner in the joint venture is Anhui Wisdom-Win Investment Co., Ltd. and the official name of the joint venture is Biohit Biotech (Hefei) Co., Ltd., located in the city of Hefei in Anhui province, China.
Anhui Wisdom-Win Investment, which invested US$3.2 million in the joint venture, will own 60 % of Biohit Biotech (Hefei) while Biohit will own the remaining 40 % after transferring US$2.1 million worth of technical expertise, production technologies, and related patents to the joint venture.
“We are glad to partner with Biohit. China has a massive market for the GastroPanel and its yet untapped potential. We anticipate a collaborative and successful team approach with Biohit,” said Liu Feng, the owner of Anhui Wisdom-Win Investment.
Regulatory approvals for the deal are pending and are expected to be finalized during 2014.
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Source: Biohit.
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