China-headquartered medical device maker Kangji Medical said on Tuesday it had received a go-private proposal from asset manager TPG-backed Knight Bidco, valuing the firm at HK$11.17 billion ($1.42 billion).
Knight Bidco is an entity owned by TPG Knight Topco, which is ultimately controlled by TPG and other parties.
Its offer price of HK$9.25 represents a premium of nearly 9.9% to Kangji‘s last closing price. If approved, then as part of the deal, the company would delist from the Hong Kong Stock Exchange and become a wholly owned unit of the buying firm.
Founded in 2004 and based in Hangzhou, Kangji designs and makes minimally invasive surgical instruments, serving hospitals and distributors across China and overseas.
Reuters
