28 January 2010 - Gide Loyrette Nouel Shanghai advises bioMérieux on strategic acquisition in China:

Gide Loyrette Nouel (GLN) has advised multinational biotechnology company bioMérieux on the acquisition of Chinese rapid test manufacturer, Meikang Biotech. 
 
The acquisition gives bioMérieux, a world leader in the field of in vitro diagnostics for the medical and industrial sectors, a strategic foothold in China with fully-owned, integrated manufacturing and research and development capabilities. The purchase forms part of business expansion in fast-growing emerging markets and bioMérieux will now have three corporate hubs in Marcy l’Etoile, France, Cambridge, US and in Shanghai, China.  

Meikang Biotech has a staff of 250 employees and contractors and provides a wide range of rapid tests based on lateral flow immunoassay technology, including tests for infectious diseases, cardiovascular diseases and cancer. The acquisition includes Meikang Biotech’s large production site in Shanghai on which bioMérieux intends to establish its Greater China headquarters as well as Asia-Pacific and corporate offices by mid-2010.  

GLN advised bioMérieux on all aspects of the acquisition including legal due diligence, structuring of the transaction and negotiation with the government and various other companies in regards to operation related contracts.  The GLN team was led by partner David Boitout, with assistance from senior associates Zhuhua Zhong and Raphaël Chantelot.