OrbusNeich completed the acquisition of a 84% stake in PT Revass Utama Medika for $15m.

OrbusNeich, a major global medical device manufacturer specializing in interventional devices, completed the acquisition of a 84% stake in PT Revass Utama Medika, a company engaged in the distribution and marketing of cardiology intervention medical devices, for $15m. “PT Revass has been engaged in the sales and distribution of medical devices in Indonesia for more than 10 years. After years of hard work, it has established a strong sales network in the country, covering more than 200 cardiac catheterization laboratories, and is well known in the medical industry. With the acquisition of PT Revass, the Group will shift from a distribution model to a direct sales model in the Indonesian market. This will not only directly increase the Group’s revenue and profitability, but also effectively accelerate our further penetration in this fast-growing economy with a huge population,” David Chien, OrbusNeich Chairman, Executive Director and Chief Executive Officer.