A group led by 2-year-old private equity firm AGIC Capital has agreed to buy medical technology maker Ritedose Corp. for $605 million, Caixin reports. Medical products and technology have emerged as a hot area for Chinese overseas acquisitions in recent years as the country tries to rapidly update a medical system serving the nation’s 1.3 billion people. Ritedose, based in Columbia, South Carolina, owns a technology known as blow-fill-seal (BFS), which is used to fill bottles and vials used for drugs with minimal chances for introduction of germs. AGIC is joining with local partners Humanwell Healthcare Group Co. Ltd., along with China Investment Corp. (CIC), the nation’s sovereign wealth fund, to make the purchase, according to AGIC. The deal marks the second major global acquisition for Humanwell in a month, after the company, based in central China’s Hubei province, led a group buying the sexual-products business from Australian medical products maker Ansell Ltd. for $600 million.
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