C-Bridge buys control of China's Anrei Medical

Founded in 2006, Hangzhou-based Anrei was wholly-owned by its US-based parent, Anrei Medical Holding. It produces and disposable medical devices for use in a variety of minimally invasive surgical procedures. It has a portfolio of 20 products that have been approved by the China Food & Drug Administration and the European Commission. These products are sold in China and overseas markets such as Europe, Southeast Asia and the US.

As part of the agreement, C-Bridge's CEO Wei Fu and Wei Ding, a partner with the firm, will join Anrei's board of directors. Rhett Pan, managing director at C-Bridge, will serve as its CEO. Steve Xu, formerly a senior executive at global medical device companies Medtronic and Karl Storz, as well as Song Gao, previously a senior sales director at Olympus and vice president at Lumenis, will also join Anrei. They will work with the company's existing management team.

"The core assets of Anrei Medical are its development capability, manufacture quality and strong reputation among its customers," Ding said in a statement. "We trust that Anrei Medical will become a premier medical device platform in China at the direction of its enhanced management team."

C-Bridge operates a dedicated healthcare fund that focuses on late-stage growth capital and buyout investment opportunities. LPs include major Chinese pharmaceutical companies, sovereign wealth funds and foundations. It claims to have $700 million under management across US dollar and renminbi-denominated pools. Last week, the PE firm led a $100 million Series B round for Ascletis, a Chinese biotechnology company that specialized in treatments for liver disease.

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• Topics
• Greater China
• Healthcare
• Buyouts
• Technology
• China
• C-Bridge Capital