Micro-Tech to acquire a 51% stake in Creo Europe from Creo Medical in a €72m deal.

Micro-Tech, a manufacturer and exporter of medical stents and disposable biopsy forceps, agreed to acquire a 51% stake in Creo Europe, a manufacturer and distributer specialist gastroenterology, urology and endoscopy products to healthcare providers, from Creo Medical, a medical device company, in a €72m deal. "Creo is a medical device company focused on the development and commercialisation of minimally invasive electrosurgical devices. As a leading Chinese manufacturer of endoscopic diagnostic and therapeutic devices, Micro-Tech has been continuously expanding its overseas sales channels and seeking valuable partnerships for innovative products. Creo's subsidiary, Creo Europe, is a key medical device distributor in Western Europe, and its sales channels and products are highly complementary to those of Micro-Tech. Upon completion of this acquisition, Micro-Tech will be able to introduce more products to Creo Europe, empower Creo's R&D and market expansion efforts, and bring new momentum to the development of both companies. Micro-Tech, Creo and Creo Europe share a high degree of strategic alignment and synergy and we also share a common goal - to provide better medical solutions for patients and doctors. This acquisition will be mutually beneficial to all parties, helping us achieve our shared growth goals," Xiaohui Long, Micro-Tech Chairman.