ICARES Medicus, Inc. originally held shares in MBI. Following the completion of this acquisition, ICARES Medicus will acquire 100% ownership of MBI, which will become a subsidiary of the group. The case will be processed after approval at the ICARES Medicus shareholders' meeting on May 31.
Following Bora's acquisition of the century-old US pharmaceutical company Upsher-Smith (USL) for US$210 million, this is the second acquisition case in the biotechnology industry this year. The industry believes that after Bora and ICARES Medicus respectively planted their flags in the US market under the categories of pharmaceuticals and medical materials, there will be opportunities to trigger a follow-up trend in the industry.
MBI, founded in California, USA, in 1997, is mainly engaged in the research, development, manufacturing, and sales of non-spherical artificial intraocular lenses. The company has obtained FDA medical device manufacturing licenses and also has production bases in California. MBI's main products are manufactured and EU certified. They include single-focus artificial intraocular lenses (including single-piece and preloaded) and single-focus astigmatism-correcting artificial intraocular lenses (including single-piece and preloaded). Its products are sold in artificial intraocular lens medical device markets in Europe, Asia, the Middle East, South America, Oceania, and other regions.
ICARES Medicus focuses on ophthalmology. As there is no overlap in customers between MBI and ICARES Medicus, the integration of ICARES Medicus Group and MBI's existing distribution system and sales channels after this acquisition will enhance the sales capabilities of the ICARES Medicus Group. Considering factors such as strengthening the diversity of group products, pricing strategy differentiation, and market development trends, the addition of MBI products will enrich the sales force of the ICARES Medicus Group. Under the ICARES Medicus Group's own Asqelio brand, combined with MBI's own PreciSAL brand, a dual-brand strategy will be created to meet market demand for products and prices in different focal ranges, maximizing marketing and sales effectiveness, expanding the business scale of the ICARES Medicus Group, and expanding its presence in the ophthalmic field.
ICARES Medicus stated that the company adopts vertical and horizontal integration in the ophthalmic field. In recent years, it has actively established joint ventures with investment companies or like-minded partners, including Chinese-based Sino Vision Medical Devices (Shanghai), mainly focusing on artificial intraocular lenses and implant systems; AST VISION CARE, S.L., established in Spain to expand sales in the European market; AST VISIONCARE GmbH, established in Germany; And acme Tooling Technology Co., Ltd. in Changhua, Taiwan, to enhance the independence of medical equipment molds and components.
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