ALLENS ARTHUR Robinson has acted as legal adviser to China-based Fresenius Kabi in their acquisition of the state-owned enterprise, Cosco Pharm, a major manufacturer of blood bags.
With a team comprising of partner Niranjan Arasaratnam and senior associates Frank Voon and Wayne Wang, Allens advised on the 100 per cent equity buy-out by Fresenius Kabi, a subsidiary of Germany-listed healthcare group, Fresenius SE.
Cosco Pharm manufacture blood bags at its modern production facility in Guangzhou. With rapid economic development in China, demand for the products is increasing as efficiency improvements in healthcare push the need for products assisting in the manufacture of blood products. For Fresenius Kabi, the acquisition is expected to enable them to rapidly expand their transfusion technology business in the Asia-Pacific region.
Niranjan Arasaratnam said the acquired Cosco Pharm plant will broaden the existing production network of Fresenius Kabi. “The acquisition further cements Fresenius’ Asian portfolio and is a good platform for the expansion of Fresenius Kabi’s business with medical devices for blood collection and processing in the Asia-Pacific,” Arasaratnam said.
Given Cosco Pharm is a state-owned entity; the deal was subject to public bidding procedures associated with state-owned assets.