Genertec Universal Medical Acquires Casstar and Signs Strategic Collaboration Agreements with Philips, Elekta, Neusoft and United Imaging

14 août 2023 Chine, CT, fusion et acquisition, MRI, Collaboration

Asie-Pacifique dernières nouvelles Diagnostic d'imagerie Développement stratégique Actualité à la Une

Genertec Universal Medical Group announced that it will acquire 85% equity interest in Casstar Medical Technology for a consideration of RMB 467.5 million ($65 million). Upon completion of the acquisition, Casstar will become an indirect non-wholly owned subsidiary of Genertec Universal Medical Group.

Casstar has been providing MRI repair and maintenance services since 1996. Currently, Cascade is able to provide after-sales service for major medical imaging equipment including CT, MRI, DSA, and DR from GE HealthCare, Philips Healthcare, and Siemens Healthineers, with more than 1,500 hospital customers.

As at 31 December 2022, the estimated value of Casstar’s equity was RMB 579 million and its net assets were approximately RMB 297 million. Casstar’s profit after tax was RMB 20.09 million and RMB 34.85 million in 2021 and 2022, respectively. Headquartered in Wuxi City, Jiangsu Province, Casstar has three operation centres in Beijing, Shanghai and Guangzhou with 27 service stations and 70 maintenance engineers.

Subsequently, Genertec Universal Medical Group signed strategic cooperation agreements with Philips Healthcare, Elekta, Neusoft Medical, and United Imaging Health, to collaborate in after-sales service, spare parts supply, talent cultivation and academic exchanges, to accelerate the promotion of specialized, high-quality and cost-effective full-cycle management services for medical equipment.

Genertec Universal Medical Group is the largest operating unit in the healthcare segment of China General Technology Group (Genertec), with 64 medical institutions and nearly 16,000 beds in China’s 14 provinces. The hospital business accounted for more than 50% of its revenue in 2022, providing a range of services such as full-cycle management of medical equipment, specialized medical services, internet healthcare, and comprehensive financial and leasing solutions.

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