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Citic to take Singaporean medical device maker private

Citic currently owns just under 20 percent of the company, and the acquisition would see it acquire the remaining stock and de-list the company.

Chinese private equity firm Citic is to acquire Singapore-listed medical device maker Biosensors International Group in a deal worth around S$1.1 billion ($770m; £511m), Private Healthcare Investor reports.

In a statement to the Singapore Stock Exchange, Citic said it would pay S$0.84 per share for Biosensors, having twice increased its offer for the company. 

The final agreed price represented a 23.5 percent premium over its trading price on 23 October when the first offer of S$0.815 per share was made. Biosensors was trading as high as S$1.40 per share in early 2013 but fell to a low of under $0.50 per share late last year.

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