Research On The Motivation And Strategy Of Bluesail Medical's Merger And Acquisition Of Biosensors International From The Perspective Of Industry-finance Integration

Under the background of China's economy gradually entering high-quality development,many domestic enterprises have integrated global high-quality resources to optimize their industrial layout and achieve their transformation and upgrading through overseas mergers and acquisitions.In the field of medical devices,with the gradual deepening of China's population and the impact of consumption upgrades,increasing concentration through mergers and acquisitions integration and connecting with international advanced technologies are becoming an inevitable trend for the future development of the industry.In order to realize the transformation and upgrading of enterprises,enterprises achieve resource integration and industrial optimization through various methods,of which the integration of industry and finance is one of the most important ways.At present,although the enterprise-led industrial fund model is the leading way to realize industrial upgrading,but the financial-led industrial fund model is gradually emerging,and Bluesail Medical's acquisition of Biosensors International is one of its typical cases.Bluesail Medical's acquisition of Biosensors International occurred in 2017-2018,in which the two parties to the transaction were Bluesail Medical and CITIC Industrial Fund,and the transaction target Biosensors International was held by CITIC Industrial Fund.After the completion of the transaction,CITIC Industrial Fund realized investment exit,Bluesail Medical has realized industrial optimization and upgrading,and the two sides of the industry and finance have a mutually beneficial win-win situation.This article analyzes the case,researches the motives,strategies,and effects of the mergers and acquisitions of the two parties in the transaction,and summarizes the successful experience,which will provide some reference for the subsequent mergers and acquisitions and even the combination of industry and finance.By combing and summarizing the domestic and foreign literatures on mergers and acquisitions,industry-finance integration and other fields,it is found that there are relatively few studies on analysis merger and acquisition transactions from the perspective of industry and finance integration.Therefore,in-depth research on this case can provide certain theoretical significance.This article takes Bluesail Medical's merger and acquisition of Biosensors International as the research object.First,it outlines the basic situation of the case,including M & A background,participating subjects and detailed process.Then,from the perspective of industrial capital,analyzed the motivation,strategy and performance of Bluesail Medical's merger and acquisition,and found that the main purpose of Bluesail Medical's acquisition of Biosensors International is to achieve industrial upgrading.In the merger and acquisition strategy,the majority shareholder's intervention in advance to achieve the control of listed companies At the same time,although the merger and acquisition brought a short-term impact on the company's financial indicators,in the later period,due to the synergy of operation and governance,it began to improve gradually.Then,from the perspective of financial capital,analyzing the motives,strategies,and income of CITIC Industrial Fund,it was found that CITIC Industrial Fund has withdrawn through this merger and acquisition.Although the underlying valuation has not changed,due to the use of leveraged privatization and other means,CITIC Industrial Fund realized It has doubled in three years,showing a superb capital operation ability.Finally,based on the analysis results of the case,the successful experience of the case and the inspiration and practical significance of the case for China's industrial upgrading and even the combination of industry and finance are summarized.