Healthcare-focused investment firm OrbiMed Advisors LLC has teamed up with Shanghai Runda Medical Technology to take Canada-listed clinical equipment producer Response Biomedical Corp. private in a deal valued at C$11.1 million (US$8.6 million). The buyers will acquire all of the issued and outstanding common shares of Response Biomedical for C$1.12 apiece in cash, which represents […]
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JD.com Inc. is rumored to have agreed to acquire Yihaodian, a Chinese e-commerce platform owned by Wal-Mart Stores, Inc., in a deal structured to establish a JD.com-and-Wal-Mart alliance to compete with rival Alibaba Group Holdings Ltd. According to Chinese media reports, JD.com emerged as the final taker of Yihaodian, for a reported price tag of […]
China has selected certain financial institutions to participate in a trial program to buy and sell banks' non-performing loans, in an effort to streamline the process of handling commercial banks' ballooning bad debt. The China Securities Regulatory Commission revealed the trial program in January, aiming to use securitization and transfers of non-performing assets to help […]
Baidu Inc. has poached a former executive Huang Shuang from Lufax, the Internet finance arm of Ping An Insurance Company of China, Ltd., to lead its consumer finance business in its newly established financial services group, according to Chinese media reports. Huang Shuang will become the vice president in charge of consumer finance businesses and […]
Shenzhen has become the world's capital of drones, taking up a 70% market share of the global consumer drone market with over 300 drone companies located in the coastal city with combined annual sales of RMB20 billion (US$3 billion). According to a report by National Business Daily, there were over 400 drone makers and research […]
NewMargin Ventures has led a RMB70 million (US$10.7 million) series A round of financing in Flowerplus, a Shanghai-based start-up that provides regular flower delivery service directly to consumers' homes. Guanghe Venture, Telescope Investment and Harmony Invest also participated, says a company announcement (in Chinese). Founded in 2015, Flowerplus previously raised pre-A round from Telescope Investment, […]
Chinese drug maker Shenzhen Hepalink Pharmaceutical plans to invest US$60 million in TPG Biotechnology Partners V, L.P., which mainly targets biomedical technology and life science companies, the company announced in a statement (in Chinese). In December 2014, Shenzhen Hepalink Pharmaceutical committed US$22 million to TPG Capital's previous biotech fund, TPG Biotechnology Partners IV, L.P. TPG […]