Baring Asia Invests in Amsino Medical Group
Hong Kong, February, 2008 – Baring Private Equity Asia (“Baring Asia”), the Asian private equity group with US$2.4 billion under management, announced today that its affiliate has invested in Amsino Medical Group (“Amsino”), the parent company of Amsino International, Inc. Amsino is a leading developer and manufacturer of disposable medical devices. With this investment, Baring Asia becomes a significant minority shareholder in Amsino. Amsino will use the proceeds from Baring Asia to increase its production capacity and enhance operational efficiency.
Founded in 1993, Amsino is a vertically integrated company providing clinically superior products and reliable manufacturing services to the international medical device community. Clients include top tier medical device Original Equipment Manufacturers from the United States, Europe and Japan. Amsino's product and service portfolio includes infusion products and access devices, blood collection and transfusion devices, anesthesia and surgical products, urological products, enteral feeding and irrigation products, respiratory therapy products, patient care products, and a full-service contract manufacturing business.
“We are very excited to partner with Baring Asia to take Amsino to a new level of development, and we are confident that we will work well towards that common goal, “said Dr. Richard Lee, Chairman and CEO of Amsino Medical Group, upon closing the business deal.
Mr. Wai San Loke, Managing Director of Baring Asia, said, “Baring Asia is honored to have invested in a medical device market leader such as Amsino. We were very impressed with the depth of Amsino’s engineering capabilities, its quality systems, and particularly with its breadth of world class customers. We are confident that Amsino has built a substantial operating base in China that can be used to tap the emerging opportunities in North American and European medical device manufacturing outsourcing.”
Mr. Jean Eric Salata, CEO of Baring Asia, commented on the Amsino investment: "There is a structural change taking place in the medical devices market, this is one of the last sectors to embrace outsourced manufacturing, and Amsino is well positioned to capture market share."
About Baring Private Equity Asia
Baring Private Equity Asia is an independent private equity firm specializing in growth capital financings and buyouts of mid-sized companies in Asia, principally in China, India and Japan. It advises funds with US$2.4 billion in assets, ranking it amongst the largest private equity firms in Asia. Baring Asia distinguishes itself through a flexible, long-term partnership approach with management, supported by in-depth industry knowledge and extensive regional connections. (www.bpeasia.com)
About Amsino Medical Group
Headquartered in Pomona, California, Amsino International, Inc. is privately held with manufacturing and distribution facilities in the US and in Asia. Amsino products are mostly developed in the US, manufactured in China, and distributed in the United States and more than 30 countries worldwide.
(www.amsino.com)
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