Research On The M&a Performance Of China’s Medical Device Companies

With the development of global economic integration,competition among enterprises has become increasingly fierce,and enterprise expansion has become the only way for development.In the ever-changing market environment,it is very difficult for companies to complete expansion by relying on their own development.At this time,mergers and acquisitions have become an excellent choice for companies to achieve rapid expansion.In recent years,the problem of population aging in my country has emerged,the scope and depth of medical insurance coverage has increased,and people are paying more and more attention to health.The domestic medical device market is getting bigger and bigger.China is now the second largest market.In order to expand the scale and occupy the market,domestic medical device companies are committed to the layout of a complete industrial chain of medical devices,and they have also accelerated the pace of mergers and acquisitions.In recent years,there have been frequent mergers and acquisitions in the medical device industry,and the transaction amount has repeatedly reached new highs;successful mergers and acquisitions have promoted the vitality of the market and the effective integration of resources,and also provided conditions for the rapid development of my country’s medical device companies.At the same time,my country’s medical device companies The growth time is short,the overall strength is weak,the M&A experience is insufficient,and the blind M&A seeking expansion has failed to achieve the desired results.This thesis selects the Blue Sail Medical’s acquisition of Biosensors International as a research case,which is also the largest medical device M&A case in the A-share market in recent years,with the performance of M&A as the research theme.This thesis first introduces the relevant background content of the research,expounds the related concepts and theories of mergers and motivations,and summarizes relevant literature reviews by scholars at home and abroad;secondly,through the analysis of the development status of medical device industry and the status quo of mergers and acquisitions in China,it is believed that the medical device industry It will usher in rapid development,and industry integration is a major trend.Companies will present two mergers and acquisitions development patterns,namely,industry leaders and platform giants.Thirdly,this thesis focuses on the transaction parties,transaction motivation,transaction process,and transaction plan of the merger case.The design and post-merger integration measures are described in detail,and then the event research method,financial indicator analysis method and non-financial performance analysis are used to comprehensively study the company’s M&A performance.In summary,the Blue Sail Medical M&A case is a relatively successful M&A.The market has reacted strongly,the profitability of the company has been improved,the R&D capabilities have been significantly enhanced,and there are still remaining problems to be resolved after the merger.Finally,combining the motivation,process and performance of Blue Sail Medical’s merger and acquisition,summarizing the highlights and learning points of this merger,and providing experience and reference for the merger and acquisition of medical device companies in China.