Listed Companies Expand into Healthcare Sector: Key Players and Recent Moves
This article is compiled and organized based on monitoring data from the VCBeat Blue Book.
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The following excerpts are taken from the “Listed Companies” section of the Blue Book. According to VCBeat’s records, global healthcare listed companies were relatively active in the market between December 9 and December 22, 2016. They expanded their businesses through collaborations, mergers and acquisitions, and capital injections, with key areas of high interest including pharmaceuticals, medical imaging, medical devices, and insurance.
Overview of Recent Developments Among Listed Companies in the Digital Health Sector
Canon Acquires Toshiba Medical Systems, a Subsidiary of Toshiba Medical
Canon Announces Acquisition of Toshiba Medical Systems for Approximately ¥665.5 BillionRecently, Canon announced the acquisition of Toshiba Medical Systems, a subsidiary of Toshiba Corporation, for approximately ¥665.5 billion. Toshiba Medical Systems, once a prime subsidiary of Toshiba, was primarily engaged in the manufacturing and sales of medical devices such as magnetic resonance imaging (MRI) scanners and X-ray inspection systems. In March this year, Toshiba announced the sale of this subsidiary after being plunged into a management crisis following the exposure of its accounting scandal.
Canon believes that the healthcare sector holds significant growth potential. Currently, Canon is leveraging its CMOS sensor and inkjet printing technologies to develop genetic testing devices that substantially reduce processing time. As early as 2015, Canon U.S.A. established Canon BioMedical Inc. with the goal of commercialization, and also launched the “Novallele” kit, which provides gene sequence information for research on cancer and genetic diseases.
Regarding this acquisition, Canon stated that it will fully leverage Toshiba Medical’s technologies in image diagnosis and other areas to strengthen its medical business, explore new related fields, and consider further mergers and acquisitions.
Jimin Pharmaceutical Acquires and Increases Capital in Ezhou No. 2 Hospital for RMB 344 Million
Recently, Jimin Pharmaceutical announced that it had acquired and increased its capital investment in Ezhou No. 2 Hospital for a total consideration of RMB 344 million, thereby obtaining an 80% equity stake in the latter. Upon completion of this transaction, Ezhou No. 2 Hospital will become a controlled subsidiary of Jimin Pharmaceutical. Ezhou No. 2 Hospital is affiliated with Ezhou No. 2 Hospital Co., Ltd., which was established on July 22, 2016. On December 7, 2016, Ezhou No. 2 Hospital received approval from the Ezhou Municipal Health and Family Planning Commission for its establishment, confirming its status as a private for-profit hospital. It subsequently obtained its Medical Institution Practice License on December 10, 2016.
Zhejiang Jimin Pharmaceutical Co., Ltd., founded in 1996, specializes in the production and sales of large-volume parenteral (LVP) products packaged in disposable polypropylene plastic bottles and non-PVC flexible bags. Its project involving double-chamber, dual-valve, multi-layer co-extruded film flexible bags for large-volume injections was included in the National Torch Program. On February 17, 2015, Jimin Pharmaceutical was listed on the Shanghai Stock Exchange. The company stated that this acquisition would help further optimize its business structure, enhance profitability, and promote sustainable development.
Yixintang Acquires Over 60 Pharmacies in Sichuan
Sichuan Yixintang Pharmaceutical Chain Co., Ltd. announced that it plans to spend no more than approximately RMB 158 million to acquire a total of 60 retail pharmacies located in Mianyang, Guangyuan, and other areas in Sichuan Province. According to Yixintang’s third-quarter report for 2016, as of September 30 this year, Yixintang and its wholly-owned subsidiaries collectively operated 3,877 directly-owned chain stores, including 240 in Sichuan. The company had previously stated publicly that “it will focus on the Southwest market over the next two years as part of its nationwide expansion strategy.” A research report by Soochow Securities indicates that Yixintang currently ranks first in the number of retail pharmacies in the Sichuan region.
Biostime Holds 100% Stake in Swisse
The board of directors of Biostime International Holdings Limited has decided to acquire the remaining 17% equity stake held by minority shareholders in Swisse (i.e., Biostime Australia Holdings) for AUD 311 million (approximately HKD 1.8087 billion), thereby achieving 100% ownership of Swisse. Guangzhou Biostime Biological Products Co., Ltd. was established in 1999. In 2006, a GMP-compliant probiotics manufacturing plant was built in the Guangzhou Economic and Technological Development Zone. On December 17, 2010, Biostime (HKEX: 1112) was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited. Biostime operates four brands: Biostime, Adimil, Mama 100, and Baoai, with “Mama 100” being a maternal and infant e-commerce platform. Biostime’s main product lines include functional foods, infant formula series, nutritional foods, health foods, prenatal foods, and oral care products.
Established in Melbourne, Australia, in the late 1950s, Swisse is a pioneer in Australian naturopathic medicine, with all clinical studies conducted at renowned Australian universities. Utilizing the most scientific formulations and highest-quality raw materials, all Swisse products are clinically validated for safety and efficacy. The brand enjoys an even stronger reputation in Australia than Blackmores, making it the leading vitamin brand locally. Biostime has high expectations for Swisse’s performance in the Chinese market. According to Biostime, the brand launched on its proprietary direct-sales platform, the Mama 100 App, late last year and opened its first flagship store on Tmall this March. Sales profitability for Swisse products is projected to increase further in 2016, with many domestic Swisse orders fulfilled through drop-shipping services provided by Mama 100.
Johnson & Johnson and HAX Forge Strategic Partnership to Co-Build Digital Health Accelerator
HAX, a leading global venture capital firm for hardware startups, has announced a strategic partnership with Johnson & Johnson to jointly accelerate consumer health-related startups. Health-focused hardware startups selected for HAX’s Spring 2017 cohort will have the opportunity to join the joint innovation acceleration program launched by HAX and Johnson & Johnson. Reportedly, this initiative primarily focuses on nurturing early-stage technological innovation teams whose development goals align with those of Johnson & Johnson.
Johnson & Johnson places particular emphasis on products in the areas of skincare, maternal and infant care, over-the-counter (OTC) medications, wound care, oral care, and women’s health. Applicants will undergo a joint screening process by HAX and Johnson & Johnson, with innovative consumer health products having the opportunity to be included in Johnson & Johnson’s product portfolio. A representative from HAX stated that this program is open to startups worldwide. HAX will provide participating teams with seed funding and office space, along with mentorship, training, and resources in exchange for an equity stake in the startups. Selected health-tech teams will also receive business development and product commercialization guidance from Johnson & Johnson, thereby accelerating the commercial potential of their products.
Kangmei Pharmaceutical Co., Ltd. Partners with the Government to Invest in and Establish Hospitals
Kangmei Pharmaceutical Co., Ltd. (hereinafter referred to as “Kangmei Pharmaceutical”) has entered into a strategic cooperation agreement with the People’s Government of Rongchang District, Chongqing Municipality, and Rongchang Traditional Chinese Medicine Hospital. The three parties will invest RMB 1 billion to jointly establish Kangmei Rongchang Traditional Chinese Medicine Hospital in accordance with the standards for tertiary hospitals. Among them, Kangmei Pharmaceutical is tentatively set to contribute 80% of the capital, while the People’s Government of Rongchang District will contribute 20% (subject to the actual capital contributions by both parties).
Under the agreement, Kangmei Pharmaceutical will leverage its advantages in the full industrial chain of traditional Chinese medicine (TCM) and in hospital operations management. It will introduce professional management teams, technical talent, and advanced facilities and equipment to transform Rongchang Traditional Chinese Medicine Hospital into a first-class comprehensive hospital in western China. Furthermore, it will actively promote the establishment of a collaborative system platform among medical institutions, including Rongchang District People’s Hospital and township/sub-district health centers, to achieve shared and coordinated utilization of regional healthcare resources. This initiative aims to enhance the medical service capabilities and overall service levels of public hospitals in Rongchang District, thereby facilitating the deepening reform and development of the healthcare sector in the district.The partners will jointly establish a hospital management company to serve as the operational entity for the new TCM hospital. This company will integrate the management of Rongchang District Traditional Chinese Medicine Hospital and the new TCM hospital. Through investment cooperation, the parties will combine their respective advantageous resources to create modernized hospital management and operational models. They will develop mid-to-high-end medical service projects, as well as rehabilitation and elderly care industries, building a health industry base catering to mid-to-high-end residents in the local area, so as to meet the growing healthcare demands of the local population.
Intuitive Surgical and Fosun Pharma Establish Joint Venture
Recently, Intuitive Surgical decided to deploy its new product lines, excluding the da Vinci surgical robot system, in China. Furthermore, Fosun Pharma and Intuitive Surgical officially announced the launch of their strategic partnership in China, jointly investing $100 million to establish a joint venture in Shanghai. The joint venture will focus on the research and development, manufacturing, and sales of innovative products based on robot-assisted catheter technology for the early diagnosis and treatment of lung cancer.
Chen Qiyu, Chairman of Fosun Pharma, stated, “Lung cancer is one of the most common cancers worldwide, particularly in China, making early detection and treatment critically important. Intuitive Surgical, Inc. is a great technology-driven company. Through the establishment of this joint venture, we aim to achieve localized research and development, manufacturing, and sales, thereby effectively reducing the diagnostic and treatment costs for lung cancer patients in China. We look forward to this collaboration providing physicians with innovative tools for precise diagnosis and treatment, thus enhancing the standard of medical care. We are confident that the joint venture’s innovative products will be rapidly introduced to the Chinese market, ultimately benefiting patients worldwide.”
Tongrentang International Traditional Chinese Medicine Platform Officially Launched
Recently, the Tongrentang International Traditional Chinese Medicine Platform was officially launched. Following its launch, Tongrentang International will provide high-quality Chinese herbal medicines and plant-based health products to global consumers through a cross-border e-commerce model.
Since 1993, Tongrentang has been committed to the overseas development of traditional Chinese medicine (TCM), with over two decades of international expansion. The company has established 130 retail outlets, TCM clinics, and wellness centers across 26 countries and regions outside mainland China, accumulating more than 30 million patient visits. To break through the traditional model of TCM’s overseas development and leverage the internet to promote the global outreach of TCM and innovate in TCM service trade, Beijing Tongrentang founded Tongrentang International in 2015.
The platform will achieve three major breakthroughs: first, a direct procurement model from source to user; second, integration of the global supply chain to enable direct overseas shipping; and third, comprehensive and precise health management, transitioning from product sales to health services. Currently, the platform covers seven countries, including the United States, Canada, the United Kingdom, Ireland, New Zealand, Australia, and Singapore, and supports settlement in 15 currencies such as the US dollar, euro, and pound sterling. By mid-2017, it will fully cover Southeast Asia and Europe, with plans to achieve coverage in major countries worldwide by 2018.
Taiping Insurance and Yifang Group Jointly Establish a Big Health Industry Fund
Recently, the Taiping Yifang Big Health Industry Equity Investment Fund, a collaboration between China Taiping Insurance Group and Yifang Group, was officially signed and established, marking a new step in Yifang Group’s strategic layout in the medical and health industry.
Reportedly, the fund has a size of RMB 800 million and aims to invest in creating high-quality innovative products with international competitiveness that meet the public’s demand for health, medical, and elderly care services. In addition, the two parties have reached broad consensus on future cooperation in areas including the sales of pension insurance products, investment in medical nursing, pharmaceutical manufacturing, elderly rehabilitation, chronic disease management, and supporting services for the broader health industry. They will also jointly invest in the Dalian Swan Lake Medical and Elderly Care Center project.
In addition to the establishment of the fund, and to further accelerate industrial layout and strategic cooperation between both parties, China Taiping and Yifang Group, adhering to the principles of complementary advantages and win-win cooperation with the goal of long-term in-depth collaboration, have reached broad consensus on future cooperation in areas including the sales of pension insurance products, investment in medical and nursing care, pharmaceutical manufacturing, elderly care and rehabilitation, chronic disease management, and supporting services for the broader health industry. Sun Xishuang, Chairman of Yifang Group, and the head of China Taiping also jointly signed an agreement to cooperate on investing in the Dalian Swan Lake Medical and Nursing Care Center project.
Universal Medical Partners with Xi’an Jiaotong University to Co-Build a Grade-A Tertiary Hospital Under the PPP Model
Recently, the groundbreaking ceremony for the International Land Port Hospital of the First Affiliated Hospital of Xi’an Jiaotong University was held in Xi’an. The International Land Port Hospital is a Grade A tertiary general hospital integrating medical care, teaching, research, elderly care, and rehabilitation, jointly established by the First Affiliated Hospital of Xi’an Jiaotong University and Universal Medical through a public-private partnership (PPP) model. This groundbreaking ceremony marks another significant step forward in the implementation of the first hospital project in China co-built by a large regional general hospital under the administration of the National Health and Family Planning Commission and social capital.
President Shi Bingyin of the First Affiliated Hospital of Xi’an Jiaotong University stated, “Under the public-private partnership (PPP) model for co-construction, the First Affiliated Hospital of Xi’an Jiaotong University will be responsible for injecting brand value, providing medical technical support aligned with brand requirements, supplying leading technical experts and professional teams, and introducing a mature hospital management system. It will also oversee medical operations during the hospital’s operational phase.” He further pointed out that this initiative to jointly establish the International Land Port Hospital will help address the uneven distribution of high-quality medical resources in the short term, with the general public being the primary beneficiaries.
Andon Health Plans to Invest RMB 74.85 Million for Equity Stake in Huahui Securities
On the evening of December 9, Andon Health announced that, in order to accumulate investment and management experience in the financial sector, enhance its ability to prevent and manage financial risks, and improve its capital operation capabilities, the company plans to jointly establish Huahui Securities with Cephei Capital Management (Hong Kong) Limited (“Cephei Hong Kong”) and eight other shareholders through monetary contributions. The company will contribute RMB 74.85 million from its own funds, holding a 4.99% equity stake.
Liuzhou Pharmaceutical Establishes Health Industry M&A Fund with RMB 100 Million Investment
On December 12, Liuzhou Pharmaceutical issued an announcement stating that it plans to contribute RMB 100 million from its own funds to jointly establish a healthcare industry M&A fund with Shenzhen Qianhai Tianyuan Huitong Investment Management Center, Zheyin Xinhe Chengdu Asset Management Co., Ltd., and Gongqingcheng Chuangjie Investment Management Partnership (Limited Partnership). The total committed capital of the M&A fund will not exceed RMB 752 million. According to insiders, the proposed healthcare industry M&A fund will primarily be used to acquire and invest in pharmaceutical industry projects that align with Liuzhou Pharmaceutical’s development strategy. Additionally, the fund will serve as a reserve pool for potential acquisition targets, effectively filtering out various early-stage risks associated with target projects. This initiative is also expected to create new profit growth drivers for Liuzhou Pharmaceutical.
Gaoxin Kate Plans to Invest RMB 117 Million to Establish a Wholly-Owned Subsidiary
Gaoxin Kate announced that the company plans to invest 117 million yuan to establish a wholly-owned subsidiary, Guangdong Gaoxin Kate Precision Machinery Co., Ltd. The announcement stated that this external investment will be made using all of the company's assets except land, with a total contribution of 117 million yuan. The subsidiary will primarily engage in the production, wholesale, and retail of functional alloy materials and products; technology transfer for new materials and processes; as well as the research and development, manufacturing, sales, and import/export of medical devices and related products. The company stated that the purpose of this external investment is to increase its operating revenue and enhance its competitiveness.
Lepu Medical's Actual Controller Increases Stake in Company Shares
Lepu Medical Announces: Company’s Actual Controller and Chairman, Pu Zhongjie, Increased His Shareholding by 620,000 Shares, Accounting for 0.03% of the Company’s Total Share Capital, Through Centralized Bidding Trading on December 12
Lepu Medical Technology (Beijing) Co., Ltd. was founded in 1999, with its headquarters located in the Changping Park of Zhongguancun Science Park in Beijing. As a Sino-foreign joint venture and high-tech enterprise, the company is engaged in the research and development, production, and sales of cardiovascular interventional diagnostic and therapeutic devices and equipment—such as coronary drug-eluting stents, congenital heart disease occluders, heart valves, and angiography systems—as well as cardiovascular pharmaceuticals. It was one of the first 28 companies listed on the ChiNext Board of the Shenzhen Stock Exchange in 2009 and was selected as one of the 50 constituent stocks of the CCTV Finance 50 Index for 2014 in November 2014. Currently, the company owns eight subsidiaries both domestically and internationally, with its products clinically applied in more than 1,200 cardiac diagnosis and treatment centers across China. It has developed into a leading high-end medical product industrial group in China specializing in cardiovascular interventional diagnostic and therapeutic devices, equipment, and pharmaceuticals, and has initially established an integrated full-industry-chain platform for cardiovascular care encompassing four sectors: medical devices, pharmaceuticals, healthcare services, and mobile health.
CITIC Medical Dips Its Toes into Rehabilitation and Elderly Care, Establishing a Presence in the Guangdong-Hong Kong-Macao Greater Bay Area Medical and Nursing Center
On December 12, 2016, CITIC Healthcare Industry Group, a wholly-owned first-tier subsidiary of CITIC Group, announced that it would designate its controlled entity, CITIC Huizhou Hospital, as a pilot for the “Medical-Care-Elderly Care” model, aiming to expand into rehabilitation and elderly care services. Unlike the conventional model of establishing community facilities first and then hospitals, CITIC Healthcare’s approach centers on leveraging existing specialized general hospitals to deliver rehabilitation and elderly care services.
Zhang Jisheng, Vice Chairman and General Manager of CITIC Healthcare Industry Group, told Caixin reporters that CITIC Healthcare is developing an elderly care model with distinct CITIC characteristics and plans to gradually replicate it. “This concept and model will be applied not only at Huizhou Hospital but also at Shangling Hospital, the 541 Hospital, and other general and specialized hospitals we plan to acquire in the future.”
Limei Pharmaceutical Participated in the Founding of a Health Insurance Company—Aier Insurance
Announcement dated December 16, 2016: The Company proposes to jointly establish Aier Health Insurance Co., Ltd. (hereinafter referred to as “Aier Insurance”) with Tibet Aier Medical Investment Co., Ltd., Hunan TV & Broadcast Intermediary Co., Ltd., Yongqing Environmental Protection Co., Ltd., Centre Testing International Group Co., Ltd., and Chongqing Lummy Pharmaceutical Co., Ltd. (the aforementioned six companies are collectively referred to as the “Promoters”). The proposed registered capital of Aier Insurance is RMB 1,000 million, of which the Company will contribute RMB 160 million in cash, accounting for 16% of the registered capital of Aier Insurance.
Wuyi Pharmaceutical Subsidiary Completes Acquisition of 100% Equity in Fujian Liumai Medical
Wuyi Pharmaceutical Announces Acquisition of 100% Equity Interest in Target Company (Fujian Liumai Medical Service Co., Ltd.) for a Total Consideration of RMB 145 Million (Subject to Adjustment)Wuyi Pharmaceutical has announced the acquisition of 100% of the equity interest in Fujian Liumai Medical Service Co., Ltd. (the “Target Company”) for a total consideration of RMB 145 million, subject to adjustment. Of this amount, RMB 80 million will be paid in cash, while the remaining RMB 65 million will be settled through the issuance and allotment of 171 million consideration shares at the issue price. The acquired company is an enterprise focused on digital healthcare and health services. Wuyi Pharmaceutical believes that, through its collaborations with health authorities, medical associations, healthcare service providers, and physicians, the Target Company possesses appointment and diagnosis data resources covering tens of millions of patient visits, as well as pediatric vaccination data resources covering millions of doses. These data assets can be mined, analyzed, and leveraged by the Group to enhance academic recognition of its products and boost the Group’s product visibility.
Subsidiary of MicroPort Receives EU CE Certification for Its Products
MicroPort Endovastec (Shanghai) Co., Ltd., a subsidiary of MicroPort Scientific Corporation, has obtained CE certification from the European Union for its independently developed Hercules™ Balloon Dilatation Catheter and Reewarm™ Peripheral Balloon Dilatation Catheter. This marks the first time that the company’s products have received CE certification.
It is understood that the Hercules™ Balloon Dilatation Catheter is designed to assist in the expansion of aortic stent grafts. It is indicated for post-deployment dilation of stent grafts to ensure more complete apposition and tighter contact with the vessel wall, thereby eliminating endoleaks, enhancing positioning stability, and achieving favorable short- and long-term therapeutic outcomes. When used in conjunction with aortic stent grafts, this product provides an integrated solution for endovascular aneurysm repair (EVAR), offering physicians greater convenience and flexibility during procedural execution.
The Reewarm™ Peripheral Balloon Dilatation Catheter is primarily indicated for the dilation of stenotic or occlusive lesions caused by atherosclerosis in arteries below the inguinal region (including the iliac, femoral, superficial femoral, popliteal, and infrapopliteal arteries). Balloon inflation expands the lumen at the site of vascular stenosis, thereby establishing access for subsequent therapeutic interventions.
Pingan Wanjia Medical Focuses on Rehabilitation Services, Reaches Strategic Cooperation with GRS
Ping An Wanjia Medical has entered into a strategic partnership with GRS, the largest rehabilitation service provider in the United States (hereinafter referred to as “GRS”). Ping An Wanjia Medical will engage in deep collaboration in rehabilitation medical services and medical training, sharing advanced global healthcare concepts. Following the establishment of this strategic partnership, GRS will work closely with Ping An Wanjia Medical to advance consultation and management services for its rehabilitation business. Specific areas of cooperation include: project planning and design for Ping An Wanjia Medical’s self-built clinics; equipment configuration planning; departmental development planning; rehabilitation product design; personnel training, assessment, and performance management design; as well as the establishment of clinical pathways and service standards for rehabilitation treatment across various diseases. Additionally, the collaboration will address ongoing updates to standards and systems during clinic operations, continuing education for staff, and technical consultations.
Maccura Biotechnology Acquires 72.5% Equity Stake in Ruihua Trading for RMB 39.875 Million
Maccura Biotechnology acquired a 72.5% equity stake in Ruihua Trading for RMB 39.875 million. Guangzhou Ruihua Trading Co., Ltd. has been engaged in the sales of IVD products for many years, possessing high-quality medical institution resources in Guangdong Province, extensive industry experience, and robust sales channel networks. This collaboration will facilitate the deepening and expansion of the Company’s channels, products, and services beyond the Southwest region, thereby advancing the implementation of its strategic layout and enhancing its market competitiveness.
Maccura Biotechnology Co., Ltd. was founded in 1994 and has been dedicated to the research, development, manufacturing, sales, and service of in vitro diagnostic (IVD) products. With a comprehensive R&D team led by several scientists, the company has established technological platforms for clinical chemistry, chemiluminescence immunoassay, rapid diagnostics, hemostasis and thrombosis, and molecular diagnostics, offering a portfolio of over one hundred products.
Qianshan Medical Machine Releases Private Placement Plan
Qianshan Medical Machine Releases Private Placement Plan: The Company Intends to Issue No More Than 100 Million Shares to No More Than Five Specific Investors, Including Its Controlling Shareholder Huafukang Investment, to Raise No More Than RMB 2 Billion in Total, with Huafukang Investment Subscribing for No Less Than 50% of the Total Shares Issued in This Offering.
Hunan Qianshan Pharmaceutical Machinery Co., Ltd. was established in 2002 and publicly listed on the ChiNext board of the Shenzhen Stock Exchange in May 2011. The company currently has nine holding or wholly-owned subsidiaries, including Shanghai Qianshan Yuandong Pharmaceutical Machinery Co., Ltd., Hunan Qianshan Medical Devices Co., Ltd., Shanghai Qianshan Medical Technology Co., Ltd., Hunan Tianhe Biotechnology Co., Ltd., Hunan Honghao Gene Biotechnology Co., Ltd., Hunan Qianshan Cigu Medical Technology Co., Ltd., Hunan Lefudi Pharmaceutical Packaging Materials Technology Co., Ltd., Venus Pharmaceutical Machinery LLC in the United States, and China Sun Europe GmbH in Germany.
Novartis Reaches Acquisition Agreement with Texas-Based Encore Vision
Recently, Novartis announced that it has reached a final agreement to acquire Encore Vision, a company based in Fort Worth, Texas, dedicated to developing novel treatments for presbyopia or hyperopia. Financial details of the transaction were not disclosed. Vas Narasimhan, Global Head of Drug Development and Chief Medical Officer at Novartis, stated, “Patients with presbyopia need innovative, effective, and safe treatment options, as there are currently no therapies available to alleviate the condition.”
Novartis is one of the world’s top three pharmaceutical companies, headquartered in Basel, Switzerland, with operations in more than 150 countries and regions worldwide and a workforce of 138,000 employees. Novartis China was established in 1997. The Novartis Group boasts a diversified business portfolio spanning innovative patented medicines, eye care, generic drugs, consumer health, and vaccines and diagnostics.
Among the aforementioned listed companies in the digital healthcare sector, medical device firms and pharmaceutical companies have demonstrated the highest level of activity, engaging in a series of strategic moves such as establishing subsidiaries, obtaining regulatory approvals, setting up funds, and pursuing acquisitions. Will digital medical devices and digital pharmaceuticals emerge as the next major growth frontier? Only time will tell.
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