(Alliance News) - Medica Spa announced Monday that it has invested, taking over a 20 percent stake, in the share capital of the newly established Medico MedTech Co. Ltd.

Medico MedTech is a trading company based in Suzhou, China, whose majority shareholder is Suzhou Huisheng Medical Science & Technology Co. Ltd and the other minority shareholder is Shanghai Hotin Trading Co. Ltd. Medica has invested RMN7 million.

Thanks to this investment, Medica will have a direct presence in the Chinese market that will enable it to strengthen its market share in a complex territory, especially within the Chronic division, and "to better meet the commercial challenges that will arise in a rapidly developing territory by pooling Medica's high technological skills with the strong product registration skills of partner Huisheng and commercial skills of partner Hotin," the company said.

Luciano Fecondini, chairman of Medica, said, "This investment is a key step in the strategic strengthening of Medica in China and provides for long-term cooperation with the two partners Suzhou Huisheng Medical Science & Technology and Shanghai Hotin Trading."

Medica's stock closed Monday down 1.3 percent at EUR14.70 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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