The purchase of a German medical device maker by a Chinese company has been stopped by the German government due to public safety concerns, reports Reuters. Beijing-based Aeonmed Group, which also makes medical devices, is prevented from purchasing Heyer Medical AG based on a government assessment that the takeover posed dangers to public safety.
The ban would go to the cabinet on Wednesday, it added. In 2020, Germany tightened rules to protect domestic firms from unwanted takeovers by investors from non-European Union countries, concerned about increased investment in critical sectors by Chinese enterprises.
Aeonmed Group had already formally completed the takeover in March 2020, but now it is no longer valid.