Fosun Pharma Successfully Completed International Acquisition, Enhancing Global Innovation
Shanghai Fosun Pharmaceutical (Group) Ltd. (“Fosun Pharma” or “Company”; stock code: 600196-SH, 02196-HK, and together with its subsidiaries “Group”), a leading healthcare company in the PRC, announced the joint acquisition with Pramerica-Fosun China Opportunity Fund, L.P. and spending US$221,630,000 to acquire 95.20% shareholding of Alma Lasers Ltd. (“Alma Lasers”) in Israel. As at Israel time, 27th May 2013, the acquisition has been successfully completed.
The realization of its first internationalized merger and acquisition is a significant step forward toward internationalization for Fosun Pharma after the completion of its H Shares offering and the opening up the international capital channel.
With the world-leading core research and development (R&D) in the medical and aesthetic device manufacturing field of Alma Lasers, it has become a leading global brand in the international market. This acquisition will help Fosun Pharma strengthen its business as well as its innovation, globalization and competition in the medical device manufacturing field. In addition, this act is an important milestone for the globalization of Fosun Pharma and a new vision for local enterprises in China.
Established in 1999, Alma Lasers is a leading manufacturer of medical laser, light-based, radiofrequency and ultrasound products with integrated products portfolios for aesthetic and medical applications industry, and businesses located in more than 60 countries and cities including United States, Germany and Brazil etc. In the past decade, Alma Lasers has performed outstandingly. In 2012, Alma Lasers recorded nearly US$100,000,000 total revenue. According to independent third-party research, Alma Lasers has a total of 15% market share in the global high-end aesthetic energy-based device segment. Alma Lasers has entered China in 2003 and became the market leader of high-end aesthetic medical device. Currently, China has become one of the most important and successful markets for Alma Lasers. After the acquisition, the previous marketing mode, sales and after-sale service team of Alma Lasers will remain the same; and its team in China – Alma China will continuously provide our customers with high quality sales and after-sales services.
There are three key sectors in the laser medical and aesthetic device industry, namely, aesthetic energy-based devices, surgical energy-based devices and the home-use energy-based devices. Alma Lasers is one of the leading companies in the high-end Aesthetic energy-based device market while joining the surgical energy-based device market in late 2012. At the same time, Alma Lasers is in its final stages of R&D for the home use devices.
The medical devices business of Fosun Pharma follows its corporate strategy to aim for the international market and gain a foothold in the high-end medical device market. In 2010, Fosun Pharma, along with Chindex established the Chindex Medical Limited (“CML”), which later becomes the vital operational business of Fosun Pharma medical device business, engaging in medical device manufacturing, sales and high-end medical device sales. The company continuously improved on the mechanism in R&D, manufacturing and production chain of local and international marketing has grown exponentially.
Doctor Ziv Karni, the Chief Executive Officer of Alma Lasers, is fully confident with this cooperation with Fosun Pharma, saying, “Alma Lasers’ team is glad to become one of the members of Fosun Pharma. Fosun Pharma’s previous successful experience in the merger and acquisition and its focus on strategic development in medical healthcare as well as the medical aesthetic device fields will become Alma Lasers’ excellent platform in Asia as well as in the World’s business development. We do look forward to cooperating with Fosun Pharma’s management team and benefit from their professional experiences.”
Mr. Chen Qiyu, Chairman of Fosun Pharma, said, "We are very optimistic about the growth prospects of the global medical and cosmetic energy-based device market, especially in the China, Brazil, Russia and India, as well as other emerging markets. Alma Lasers is an international enterprise with excellent capability of innovation. Fosun Pharma will continue to support the global expansion of Alma Lasers. Upon the acquisition, Fosun Pharma will establish Alma Lasers as a management platform for the R&D, manufacturing and sales of high-end medical devices, providing an internationalized development path for the company. ”
Mr.Guo Guangchang, Chairman of Fosun Group, indicated, “It marked an important step forward for Fosun Pharma’s Globalization, which shows that Fosun Pharma is now enforcing Fosun’s Investment Philosophy and actively combining China’s Momentum with global resources. Fosun’s Investment Portfolio includes Pharmaceuticals, Property, Steel, Mining, Commercials & Tourism, Financial & Insurance, Media & Entertainment, etc. In 2010 and 2011, Fosun invested in the French Resort Corporation Club Med and then in the Greek Folli Follie Group. On May.27, Fosun announced to file a friendly tender offer for Club Méditerranée.”
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About Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Fosun Pharma is a leading healthcare company in the PRC. The Group was established in 1994 with headquarters located in Shanghai, and was listed on the Shanghai Stock Exchange in 1998. In October 2012, though the international financial environment was unfavorable, the Company successfully completed offering and listing H shares in Hong Kong. As a result, the Company has listings in both the A share market and the H share market. The Group has achieved significant results with strengthened corporate governance and investor relationship management. In addition to the SSE 180 Index, CSI 300 Index and SSE Corporate Governance Index, Fosun Pharma is also included in the SSE Private Enterprise 50 Index and SSE Social Responsibility Index. According to IMS Health Incorporated (“IMS”), the Group was one of the top five domestic pharmaceutical companies in the PRC by revenue in the pharmaceutical manufacturing segment in 2011. The Group’s business operations strategically cover multiple important segments in the healthcare industry value chain, with business segments including pharmaceutical manufacturing, pharmaceutical distribution and retail, healthcare services and diagnostic products and medical devices.
About Alma Lasers Ltd.
Founded in 1999, Alma Lasers is a renowned global manufacturer of laser, light-based, radiofrequency and ultrasound devices for aesthetic and medical applications, with a fully integrated product supply chain. The company’s R&D manufacturing and international sales headquarters is situated in Caesarea, Israel and its subsidiaries for direct sales and support for the USA market is located in Chicago, USA and in Germany Erlangen for the German market. With its excellent performance over the past decade, Alma Lasers has become the leading enterprise in the industry with annual revenue of about US$100 million. According to an outside report, Alma Lasers has a 15% market share in the global high-end medical and beauty laser products industry. Alma Lasers entered the China market in 2003 and has since become the leader in this industry.
About the Founder of Alma Lasers Ltd.
Ziv Karni, the founder of Alma Lasers, is the chief executive officer of the company. Dr. Ziv has been working in the R&D of medical lasers for more than 20 years and is the patent explorer and owner of a number of medical laser technologies. Dr. Ziv is one of the pioneers in introducing lasers into the medical field and promoting the tight collaboration of laser technology and clinical application. As of the end of 2012, the near 40-strong R&D team that he leads has 74 patents and applications for an additional 23 patents.
For more information, please refer to http://www.almalasers.com/int/.
About Fosun
Founded in 1992, Fosun Group is a classic story of success after China's reform and opening-up. On 16 July 2007, Fosun International (00656.HK), the parent company of Fosun Group, was listed on the Main Board of the Hong Kong Stock Exchange. As of today, Fosun has established a development model powered by four growth engines comprising “insurance, industrial operations, investments and assets management”, and through implementation of its philosophy of value investment, Fosun is making strides towards its vision of becoming “a premium insurance-oriented investment group with a focus on China’s growth momentum”. Currently, Fosun mainly invests in sectors that would significantly benefit from China's growth momentum, such as consumption and consumption upgrade, financial services, resources & energy, and manufacturing upgrade, with a view to participating in the rapid development of China's economy.
The realization of its first internationalized merger and acquisition is a significant step forward toward internationalization for Fosun Pharma after the completion of its H Shares offering and the opening up the international capital channel.
With the world-leading core research and development (R&D) in the medical and aesthetic device manufacturing field of Alma Lasers, it has become a leading global brand in the international market. This acquisition will help Fosun Pharma strengthen its business as well as its innovation, globalization and competition in the medical device manufacturing field. In addition, this act is an important milestone for the globalization of Fosun Pharma and a new vision for local enterprises in China.
Established in 1999, Alma Lasers is a leading manufacturer of medical laser, light-based, radiofrequency and ultrasound products with integrated products portfolios for aesthetic and medical applications industry, and businesses located in more than 60 countries and cities including United States, Germany and Brazil etc. In the past decade, Alma Lasers has performed outstandingly. In 2012, Alma Lasers recorded nearly US$100,000,000 total revenue. According to independent third-party research, Alma Lasers has a total of 15% market share in the global high-end aesthetic energy-based device segment. Alma Lasers has entered China in 2003 and became the market leader of high-end aesthetic medical device. Currently, China has become one of the most important and successful markets for Alma Lasers. After the acquisition, the previous marketing mode, sales and after-sale service team of Alma Lasers will remain the same; and its team in China – Alma China will continuously provide our customers with high quality sales and after-sales services.
There are three key sectors in the laser medical and aesthetic device industry, namely, aesthetic energy-based devices, surgical energy-based devices and the home-use energy-based devices. Alma Lasers is one of the leading companies in the high-end Aesthetic energy-based device market while joining the surgical energy-based device market in late 2012. At the same time, Alma Lasers is in its final stages of R&D for the home use devices.
The medical devices business of Fosun Pharma follows its corporate strategy to aim for the international market and gain a foothold in the high-end medical device market. In 2010, Fosun Pharma, along with Chindex established the Chindex Medical Limited (“CML”), which later becomes the vital operational business of Fosun Pharma medical device business, engaging in medical device manufacturing, sales and high-end medical device sales. The company continuously improved on the mechanism in R&D, manufacturing and production chain of local and international marketing has grown exponentially.
Doctor Ziv Karni, the Chief Executive Officer of Alma Lasers, is fully confident with this cooperation with Fosun Pharma, saying, “Alma Lasers’ team is glad to become one of the members of Fosun Pharma. Fosun Pharma’s previous successful experience in the merger and acquisition and its focus on strategic development in medical healthcare as well as the medical aesthetic device fields will become Alma Lasers’ excellent platform in Asia as well as in the World’s business development. We do look forward to cooperating with Fosun Pharma’s management team and benefit from their professional experiences.”
Mr. Chen Qiyu, Chairman of Fosun Pharma, said, "We are very optimistic about the growth prospects of the global medical and cosmetic energy-based device market, especially in the China, Brazil, Russia and India, as well as other emerging markets. Alma Lasers is an international enterprise with excellent capability of innovation. Fosun Pharma will continue to support the global expansion of Alma Lasers. Upon the acquisition, Fosun Pharma will establish Alma Lasers as a management platform for the R&D, manufacturing and sales of high-end medical devices, providing an internationalized development path for the company. ”
Mr.Guo Guangchang, Chairman of Fosun Group, indicated, “It marked an important step forward for Fosun Pharma’s Globalization, which shows that Fosun Pharma is now enforcing Fosun’s Investment Philosophy and actively combining China’s Momentum with global resources. Fosun’s Investment Portfolio includes Pharmaceuticals, Property, Steel, Mining, Commercials & Tourism, Financial & Insurance, Media & Entertainment, etc. In 2010 and 2011, Fosun invested in the French Resort Corporation Club Med and then in the Greek Folli Follie Group. On May.27, Fosun announced to file a friendly tender offer for Club Méditerranée.”
- End -
About Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Fosun Pharma is a leading healthcare company in the PRC. The Group was established in 1994 with headquarters located in Shanghai, and was listed on the Shanghai Stock Exchange in 1998. In October 2012, though the international financial environment was unfavorable, the Company successfully completed offering and listing H shares in Hong Kong. As a result, the Company has listings in both the A share market and the H share market. The Group has achieved significant results with strengthened corporate governance and investor relationship management. In addition to the SSE 180 Index, CSI 300 Index and SSE Corporate Governance Index, Fosun Pharma is also included in the SSE Private Enterprise 50 Index and SSE Social Responsibility Index. According to IMS Health Incorporated (“IMS”), the Group was one of the top five domestic pharmaceutical companies in the PRC by revenue in the pharmaceutical manufacturing segment in 2011. The Group’s business operations strategically cover multiple important segments in the healthcare industry value chain, with business segments including pharmaceutical manufacturing, pharmaceutical distribution and retail, healthcare services and diagnostic products and medical devices.
About Alma Lasers Ltd.
Founded in 1999, Alma Lasers is a renowned global manufacturer of laser, light-based, radiofrequency and ultrasound devices for aesthetic and medical applications, with a fully integrated product supply chain. The company’s R&D manufacturing and international sales headquarters is situated in Caesarea, Israel and its subsidiaries for direct sales and support for the USA market is located in Chicago, USA and in Germany Erlangen for the German market. With its excellent performance over the past decade, Alma Lasers has become the leading enterprise in the industry with annual revenue of about US$100 million. According to an outside report, Alma Lasers has a 15% market share in the global high-end medical and beauty laser products industry. Alma Lasers entered the China market in 2003 and has since become the leader in this industry.
About the Founder of Alma Lasers Ltd.
Ziv Karni, the founder of Alma Lasers, is the chief executive officer of the company. Dr. Ziv has been working in the R&D of medical lasers for more than 20 years and is the patent explorer and owner of a number of medical laser technologies. Dr. Ziv is one of the pioneers in introducing lasers into the medical field and promoting the tight collaboration of laser technology and clinical application. As of the end of 2012, the near 40-strong R&D team that he leads has 74 patents and applications for an additional 23 patents.
For more information, please refer to http://www.almalasers.com/int/.
About Fosun
Founded in 1992, Fosun Group is a classic story of success after China's reform and opening-up. On 16 July 2007, Fosun International (00656.HK), the parent company of Fosun Group, was listed on the Main Board of the Hong Kong Stock Exchange. As of today, Fosun has established a development model powered by four growth engines comprising “insurance, industrial operations, investments and assets management”, and through implementation of its philosophy of value investment, Fosun is making strides towards its vision of becoming “a premium insurance-oriented investment group with a focus on China’s growth momentum”. Currently, Fosun mainly invests in sectors that would significantly benefit from China's growth momentum, such as consumption and consumption upgrade, financial services, resources & energy, and manufacturing upgrade, with a view to participating in the rapid development of China's economy.