Latest in the healthcare market saw Hong Kong’s Yestar plan the sale of Reg S notes, Medical Developments International signing a licensing deal with Korea’s BL&H, Tune Group planning an entry into healthcare and Integral Diagnostics’ MOU with Siemens.
Yestar plans Reg S notes sale
Medical imaging company Yestar International Holdings is planning the sale of senior Reg S notes. Bank of America Merill Lynch, Deutsche Bank, Haitong International and Credit Suisse will be arranging the sale.
Reg S notes allow companies to not register their stock sold outside the U.S, making it easier for foreign investors to purchase U.S. company notes. The notes are expected to be rated Ba3/BB-.
Newly acquired liquidity will be used to settle existing debt, capital expenditure and acquisitions as well as for general corporate purposes.
Currently, the Group is the sole manufacturer for Fujifilm medical film products. It is also a major contributing distributor for Roche Diagnostic IVD (In Vitro Diagnostics) products. Back in 2015, the firm had successfully acquired Shanghai Emphasis, acquiring the rights for Roche and Thermo Fisher IVD products in Shanghai.
MVP signs Korea licensing deal
Medical Developments International (MVP) has signed a deal with Korea’s BL&H for the exclusive distribution rights of its pain medication inhaler Penthrox. The deal is said to be worth AU$1.2 million ($910 thousand). A potential 300,000 units per annum sale is said to be found in the Korean market according to MVP CEO John Sharman.
MVP develops and manufactures pharmaceutical drugs and other medical equipment. The company’s products include analgesic drugs as well as a range of human and veterinary machines and devices in the anesthetics, emergency, oxygen delivery and asthma management fields.
MVP shares rose more than 5% on the news to A$5.11 ($3.92). The firm reported a 2.6 per cent rise in profits for the year in August 2016 to Au$1.6 million ($1.23 million) on revenues that were up 33 per cent to a reported A$15.5 million ($11.9 million).
Tune Group plans move into healthcare
Malaysia’s Tune Group is planning a move into healthcare with the launch of new subsidiary Tune Care. Healthcare models such as clinics, hospitals or diagnostics labs are currently being examined by a newly appointed team of specialists.
Founded in 2001 following the purchase of AirAsia, Tune Group specializes in air travel, hotel, telecommunication, financial services, sports, media and creative industries.
Tune Group founder Tony Fernandez has reportedly proceeded to inform the Malaysian health ministry on his plans. Tune Care will be added to a portfolio of companies that include Air Asia, Tune Hotels, Caterham Group, Queens Park Rangers or the ASEAN Basketball League.
Siemens signs MOU with Integral Diagnostics
Integral Diagnostics have signed a Memorandum of Understanding with Siemens Healthineers Enterprise Services and Solutions, previously known as Siemens Healthcare,to run join their Global Pilot Program over the next three years. The pilot aims to enhance the effectiveness and of Internal Diagnostics’ existing healthcare services.
Integral provides diagnostic imaging services to practitioners, medical specialists and their patients in Australia.The country’s fourth largest radiology group aims to use this pilot to help find and develop technological solutions ahead of the market.
Profits were up 137% for the Australian company to A$11.4 million ($8.7 million) on revenues that rose 10.9% to A$167.8 million ($128.5 million). The firm had been given an enterprise value of between $333.7 million and $388.6 million, according to a Morgan Stanley analyst report released in late 2015.
Following the news, shares rose around 1.3% to A$1.59 ($1.22). The group holds a cash balance of AU$24 million ($18.5 million) as of July 2016.