Longreach Sells Hong Kong Medical Devices Player Quasar to Boyu Capital
Longreach Group, an Asia-focused private equity firm, has sold its majority stake in Hong Kong-based medical device maker Quasar to Boyu Capital, a China-focused private equity firm. The deal, which is reportedly worth over $600 million, is expected to close in the coming weeks.
Quasar is a leading contract development and manufacturing organization (CDMO) of advanced medical devices. The company has a strong track record of developing and manufacturing medical devices for a variety of global customers, including Johnson & Johnson, Medtronic, and Abbott Laboratories.
Boyu Capital is a leading private equity firm in China with over $10 billion in assets under management. The firm has a strong track record of investing in the healthcare sector, and it sees Quasar as a key asset in its portfolio.
The sale of Quasar to Boyu is a sign of the growing interest in the medical device industry in China. The Chinese healthcare market is expected to grow rapidly in the coming years, and Boyu Capital is well-positioned to capitalize on this growth.
Here are some key takeaways from the article:
- Longreach Group has sold its majority stake in Hong Kong-based medical device maker Quasar to Boyu Capital.
- The deal is reportedly worth over $600 million.
- Quasar is a leading CDMO of advanced medical devices.
- Boyu Capital is a leading private equity firm in China with a strong track record in the healthcare sector.
- The sale of Quasar to Boyu is a sign of the growing interest in the medical device industry in China.
