Blackstone Invests in China’s Orthopedic Implant Market
September 26, 2014
With a rumored amount of roughly $100 million (CNY614 million), The Blackstone Group has announced a significant investment in Xinrong Best Medical Instrument Co., a manufacturer of orthopedic implants for trauma, spine and joint applications. Founded in 2000, the company intends to use the capital to scale its business to increase market share. According to The Boston Consulting Group, China’s orthopedic implant market (a $1.3 billion industry in 2013) is projected to grow to $4.1 billion in 2020—representing an 18% compound annual growth rate. Blackstone has made similar investments in Biomet, a medical device manufacturer, and DJO, a developer and manufacturer of orthopedic products.