China is in the midst of remaking its healthcare infrastructure and a growing number of firms there are teaming up with Western medical device companies. Last month, we reported that iPhone assembler Foxconn was hoping to obtain distribution rights to Palo Alto, CA–based Varian Medical Systems’ radiation devices.
Now, China-based Sinocare is prepared to bid $1 billion for Bayer AG’s diabetes device unit, according to a Bloomberg report.
Reports began to surface last year that Bayer had plans to sell its Contour business, which Bloomberg then estimated could be worth between $1.25 billion and $2.5 billion.
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