Esaote announced on 9 October that Midea Group had completed the acquisition of a controlling stake in its share capital. Il Sole 24 Ore reported that the Chinese group now owns all of the Genoa-based company.
Why Midea Group is buying Esaote
Esaote becomes part of Midea Healthcare, the division Midea set up to focus on medical imaging. Midea said the acquisition was a strategic fit with that business.
Regulatory approvals and timing
Italy's competition authority cleared the deal at the end of June, according to Il Sole 24 Ore.
Market context
Esaote is among the world's top ten makers of ultrasound and open and dedicated MRI systems, with R&D and manufacturing in Italy and the Netherlands and about 70% of revenue from outside Italy. A Chinese consortium bought Esaote in 2018; Midea held about 22% through the vehicle Wdm before taking control. Chief executive Franco Fontana stays in post.
