Analysis On The Effect Of Overseas Mergers And Acquisitions Of Medical Device Enterprises In China

Medical device manufacturing industry has multi-disciplinary cross,knowledge-intensive,capital-intensive and other characteristics,the domestic medical equipment market has long been dominated by international enterprises,local enterprises because they do not have the advantages of first-mover and technology,lack of funds,showing a large number of enterprises and miscellaneous situation,domestic medical device products all year round at the low end of the industry.Medical devices belong to high-end manufacturing products.It requires local enterprises to master the core advanced technology to achieve import substitution.In the case of long-term independent research and development and lack of scientific research talents,through overseas mergers and acquisitions to obtain more mature foreign enterprises patent technology,marketing network,management experience and so on has become the best way for local enterprises to rise rapidly and grow.After reading the theoretical knowledge and the current research literature,the author believes that the purpose of cross-border mergers and acquisitions is to acquire resources to achieve synergy and expand overseas markets.As overseas mergers and acquisitions involve regional and cultural differences,there are more risks.Through the analysis of specific overseas M&A cases,it can be concluded whether the economic effect of cross-border M&A economy is significant.The series of measures adopted in the process of M&A integration provide reference for future overseas M&A.After comparing several commonly used performance evaluation methods,the author establishes a four-dimensional evaluation system from the multidimensional perspective of the balanced scorecard,whose evaluation angle covers many aspects related to finance,customer,internal process,learning and growth,so as to make the evaluation of M&A effect a more comprehensive and comprehensive.This paper selects the case of the medical device manufacturing company Micro Port Medical in the acquisition of Wright's bone and joint business in the United States in 2014.Analyzes the data of the annual before and after the M&A behavior.It is considered that the M&A behavior of Micro Port Medical treatment has a negative impact on the financial indicators of enterprises in the short term,but from the perspective of long-term development this merger is the first step in the development of Micro Port Medical globalization,and has improved the situation of enterprises relying on a single product to achieve diversified development,so that the company's brand influence.During the integration of M&A,Micro Port Medical integration of technical resources,increase R&D efforts,to reduce costs to take a series of measures for the long-term development of enterprises to lay a solid foundation,but also for the same industry enterprises to provide valuable experience.This article is divided into six chapters,the first chapter is the introduction,mainly introduces the background and significance of the topic,research ideas framework,innovation and shortcomings,the second chapter of the collation of relevant theoretical knowledge to summarize the current research results of scholars,described the concept and characteristics of cross-border M&A,the motivation of enterprises to cross-border M&A.The significance of M&A integration and the comparison of M&A performance analysis methods.Finally,the balanced scorecard is used to select four different dimensions of evaluation indicators as the basis for M&A effect analysis.The third chapter is about the development status and characteristics of China's medical device industry.An overview was made to analyze the cause and effect of M&A behavior of medical device manufacturers,and the fourth chapter gives a brief description of the cases of Micro Port Medical overseas M&A,focusing on the establishment of performance evaluation system from the perspective of Balanced scorecard.The fifth chapter is the performance evaluation.According to the evaluation system established in this paper,the index data of the year before and after the merger is selected,and the case is analyzed in depth and the summary is drawn.The sixth chapter is the research conclusion of this paper,as well as the inspiration from the experience of this overseas acquisition.