Mindray Medical, a leading domestic medical device company, announced on September 23 that the acquisition of 100% equity of HyTest Invest Oy (hereinafter referred to as "HyTest Bio") and its subsidiaries has been completed on September 22.The transaction price is 532 million euros (including the equity price of the transaction, repayment of the debt of the target company and interest of the lock box).
According to the announcement, after the completion of the delivery, Mindray Netherlands, a wholly-owned subsidiary of Mindray Medical, has directly or indirectly held 100% of the equity of Hypeptide Bio and its subsidiaries, and enjoys various shareholder rights and assumes corresponding shareholder obligations in accordance with the law.Sea peptide biological will be included in the company's consolidated statements.
Mindray Medical (Nyse: MINdray) announced on May 16 that it intends to acquire Hypeptide Bio, a world-renowned supplier of in vitro diagnostics, for approximately 545 million euros in cash.In vitro diagnostics is one of mindray's three business segments.According to the company's 2021 semi-annual report, in vitro diagnosis business achieved revenue of 3.962 billion yuan in the reporting period, accounting for more than 30% of the total revenue, with a year-on-year growth of 30.76%, which is the fastest growing business in the first half of the year.
Strengthen in vitro diagnosis core raw materials from the production and research to solve the supply "bottleneck" problem
With this acquisition, Mindray Medical aims to strengthen the core R&D capacity of chemiluminescence products and raw materials and optimize the global layout of the upstream and downstream industrial chain.Information shows that, founded in 1994, Sea peptide biology is the world's top professional in vitro diagnosis upstream raw materials supplier, headquartered in Turku, Finland, with branches in Russia and China.Its main products include monoclonal antibodies, antigens, polyclonal antibodies, etc., and its users cover many in vitro diagnostics giants around the world.
Haipeptide bio has the ability of innovation, original research and self-production of high-quality antigens and antibodies, and has established a rich product portfolio and solid technology accumulation in the advantageous fields of heart markers, tumor markers, infectious diseases, inflammation, coagulation and so on.In 2004, the Troponin I-T-C complex was selected by the American Society of Clinical Chemistry (AACC) as a raw material for an international standard substance.On the technical level, with its nearly 30 years of industry accumulation, nearly 90% of the high level of RESEARCH and development team with a doctor's degree or above, has built the monoclonal antigen antibody design, expression, continuous optimization and stable production capacity for in vitro diagnosis needs, and can quickly meet the new and growing market demand.For example, rapid design and development of core raw materials for COVID-19 antigen detection reagents.
Mindray medical said that the self-research and self-production capacity of the immune raw materials is an important guarantee of the clinical performance, quality and supply safety of the reagents. Studies have shown that more than 50% of the reagent quality problems are caused by the raw materials.The acquisition of sea peptide biology fills many gaps in the field of upstream top raw materials for in vitro diagnosis in China, and will strengthen its self-research and self-production capacity of core raw materials and improve the self-made ratio of core raw materials.Self-made raw materials can ensure stable quality, supply security and cost optimization, and help solve the "bottleneck" problem of upstream raw materials supply in vitro diagnosis.
Pacific Securities analysts said that for a long time, one of the development bottlenecks of the domestic in vitro diagnosis industry chain lies in key raw materials, because domestic raw materials are developed with the in vitro diagnosis industry, so there is a certain lag.In vitro diagnostics is one of the three main businesses of the company, and chemiluminescence products are an important branch.Through this acquisition, Mindray Medical has improved its core r&d capability of in vitro diagnostic raw materials, which is conducive to the quality control, cost optimization and supply security of the company's in vitro diagnostic business. It has opened up the whole value chain of diagnostic reagents from raw materials to customers and optimized the global layout of upstream and downstream industrial chains.
Let the sea peptide seeds grow into towering trees on the mindray platform
Mindray medical said that many years of solid professional accumulation in monoclonal antibody design, research and development and production can help the company quickly improve the raw material research and development capabilities;Its professional team, scientific innovation process and new technology application can help the company pave the way for long-term development of technology;The academic and clinical exploration of new biomarkers will lead to new business expansion and support product development with high performance requirements.
As one of the core raw material suppliers of Mindray Medical, Haipeptide Biological has cooperated with Mindray Medical for more than 10 years.The two parties are each other's top five core partners with strong business relevance, which provides a foundation for subsequent integration.
Previously, Mindray's strength was its strong instrument research and development capabilities, while its reagent research and development capabilities needed to be strengthened, industry analysts said.As the leading brand of in vitro diagnostic raw material supplier, Hypeptide bio has accumulated a variety of high-quality raw materials in cardiac markers, inflammatory markers, infectious diseases, metabolism, tumor, coagulation, pregnancy, animals and other fields, which not only meets mindray's demand for raw materials, but also contributes to the long-term technological breakthrough of Mindray Medical.
Essence securities research report shows that the acquisition HyTest help mindray further enhanced chemiluminescence product and raw material at the core of the research and development ability construction, realizes the core raw materials since the research will be conducive to mindray medical in vitro diagnostic business quality control, cost optimization and security of supply, mindray for in vitro diagnostic for the long-term development of the business.
After the acquisition, Haipeptide bio will continue to maintain its status as a professional upstream raw material supplier, providing long-term, stable and sufficient supply to global in vitro diagnostic users, and maintaining a stable and competitive pricing system.Mindray Medical will also firmly support Haipeptide biotechnology to continue to increase investment in RESEARCH and development, strengthen technological innovation and academic exploration, continue to pursue excellence, and maintain and consolidate its world leading position in the field of upstream raw materials for professional in vitro diagnostics.
At the same time, sea peptide biology will be integrated into Mindray medical raw materials RESEARCH and development management team to establish a docking mechanism.Under the framework of legal compliance, through training, communication, joint development and other ways, we will improve mindray medical raw material research and development ability, serve the long-term development strategy of the company, and let the seed of sea peptide grow into a towering tree, blossom and bear fruit on the platform of Mindray Medical.(Bioresource Technology)
