* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, May 30, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

    Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

    Cassie Ventura welcomes third child – crossroadstoday.com

    Cassie Ventura Joyfully Welcomes Her Third Child!

    Drew Brees opens Surge Entertainment Center in Metairie hot spot for new businesses – NOLA.com

    Drew Brees Unveils Exciting New Surge Entertainment Center in Metairie!

    Will Gio Stay Or Go On May 27 General Hospital? – Yahoo

    Will Gio Make a Shocking Exit on May 27th’s General Hospital

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    4Liberty Announces Collaboration with Itron to Drive Innovation in Utility Technology Adoption and Optimization – FinancialContent

    4Liberty Partners with Itron to Revolutionize Utility Technology and Boost Innovation

    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics to Thrive Amid CMS’s Rigorous 2025 Standards, Black Book – Newswire.com

    Unlocking Success: How Top MA Plans Harness Data and Analytics to Excel Under CMS’s 2025 Standards

    Arqit acquires Ampliphae’s technology IP, enhancing its global encryption portfolio – GlobeNewswire

    Arqit Boosts Global Encryption Portfolio with Strategic Acquisition of Ampliphae’s Technology IP

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

    Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

    Cassie Ventura welcomes third child – crossroadstoday.com

    Cassie Ventura Joyfully Welcomes Her Third Child!

    Drew Brees opens Surge Entertainment Center in Metairie hot spot for new businesses – NOLA.com

    Drew Brees Unveils Exciting New Surge Entertainment Center in Metairie!

    Will Gio Stay Or Go On May 27 General Hospital? – Yahoo

    Will Gio Make a Shocking Exit on May 27th’s General Hospital

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    4Liberty Announces Collaboration with Itron to Drive Innovation in Utility Technology Adoption and Optimization – FinancialContent

    4Liberty Partners with Itron to Revolutionize Utility Technology and Boost Innovation

    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics to Thrive Amid CMS’s Rigorous 2025 Standards, Black Book – Newswire.com

    Unlocking Success: How Top MA Plans Harness Data and Analytics to Excel Under CMS’s 2025 Standards

    Arqit acquires Ampliphae’s technology IP, enhancing its global encryption portfolio – GlobeNewswire

    Arqit Boosts Global Encryption Portfolio with Strategic Acquisition of Ampliphae’s Technology IP

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

OrbusNeich Acquires 84% Stake in Indonesian Distributor PT Revass for Approximately US$15 Million

November 27, 2023
in News
OrbusNeich Acquires 84% Stake in Indonesian Distributor PT Revass for Approximately US$15 Million
Share on FacebookShare on Twitter

HONG KONG, Nov 27, 2023 – (ACN Newswire) – OrbusNeich Medical Group Holdings Ltd (“OrbusNeich”, 6929.HK), a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, is pleased to announce that it has acquired 84% of the issued share capital of PT Revass Utama Medika (“PT Revass”), through its wholly-owned subsidiary on 27 November 2023. The initial estimated consideration for this transaction is US$15.12 million, and the actual consideration, which is expected to be in the range of US$10.08 million to US$20.16 million, will be determined based on the actual profit recorded by PT Revass in FY2023. The consideration for the acquisition will be funded from proceeds of the Group’s global offering and cash generated from operations.

PT Revass is an Indonesian company specialising in distributing and selling cardiovascular intervention, neuro intervention, peripheral intervention and continuous renal replacement therapy products. Its profit after tax in FY2022 amounted to IDR14.3 billion (equivalent to approximately US$920,000). As of 30 June 2023, its unaudited net asset value was approximately IDR88.1 billion (equivalent to approximately US$5.7 million*). Upon completion of the acquisition, PT Revass will become an indirect non-wholly-owned subsidiary of the Group, and its financial results will be consolidated into the Group’s financial statements.

Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich, said, “PT Revass has been engaged in the sales and distribution of medical devices in Indonesia for over 10 years. After years of hard work, it has established a strong sales network in the country, covering more than 200 cardiac catheterization laboratories, and is well known in the medical industry. With the acquisition of PT Revass, the Group will shift from a distribution model to a direct sales model in the Indonesian market. This will directly increase the Group’s revenue and profitability and effectively accelerate our further penetration in this fast-growing economy with a huge population.”

Mr Andriatno Martono, President Director of PT Revass, said, “We are honored to reach a sale and purchase agreement with OrbusNeich, the world’s leading PCI and PTA interventional device manufacturer. OrbusNeich and PT Revass are committed to providing patients with high-quality medical equipment and treatments. Under the leadership of OrbusNeich, which has rich marketing experience in the international market and high-quality and innovative products, we will be able to introduce more high-quality vascular interventional medical devices to the Indonesian market and benefit more patients there.”

Since introducing the first balloon product, Sapphire, to the Indonesian market in 2010, OrbusNeich is committed to increasing local market penetration by organizing education activities for doctors and continuously updating its product portfolio. In FY2022, the Indonesian market contributed to the Group US$3.1 million in revenue, representing a year-on-year increase of 29.6% and accounting for 2.2% of the total revenue. According to data from the World Bank, Indonesia’s population reached 276 million in 2022, making it the fourth most populous country in the world. In addition, according to the World Health Organization, ischemic and hypertensive heart disease is the second leading cause of death in Indonesia. With steady economic growth, Indonesia’s healthcare expenditure as a percentage of GDP has increased yearly. The number of cardiac catheterization laboratories for PCI procedures has also been increasing yearly and is expected to increase continuously. Therefore, the Group believes this transaction will be a sustainable growth driver for its future revenue and profit.

*At the rate of IDR10,000 to US$0.64

About PT Revass Utama Medika

Founded in 2010, PT Revass Utama Medika is a company that distributes and markets cardiology intervention medical devices. Initially, it began as an importer and distributor of stents and balloons from OrbusNeich. To encourage growth, PT Revass Utama Medika expanded its business by distributing other medical accessories as supporting devices for cardiology intervention. Moreover, the company created a large sales network spanning 30 major cities across the Indonesian archipelago. Consistent with its vision to be a trusted and leading business partner, PT Revass Utama Medika provides Indonesia with the highest quality cardiology intervention medical devices. Please visit the Company’s official website: https://www.revassutamamedika.com/

About OrbusNeich Medical Group Holdings Limited

OrbusNeich is a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures. Headquartered in Hong Kong, China, OrbusNeich sells its products in more than 70 countries and regions worldwide. It specializes in coronary stent products and is expanding into neurovascular intervention and structural heart disease. As of June 30 2023, OrbusNeich has more than 210 granted patents and published applications worldwide. Its in-house R&D team has over two decades of product development experience and has developed world-leading proprietary technologies. Please visit the Group’s official website: https://orbusneich.com/

Topic: Merger & Acquisition


Source: OrbusNeich Medical Group Holdings Limited

Sectors: Healthcare & Pharm, MedTech

http://www.acnnewswire.com

From the Asia Corporate News Network

Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : ACN Newswire – https://en.acnnewswire.com/press-release/english/87740/

Tags: AcquiresnewsOrbusNeich
Previous Post

We don’t demolish places of worship, says Swedish PM after mosque ban proposed

Next Post

Hospitality and Travel Job Roles Soars With 169% Surge In Hiring: foundit Insights Tracker

Opinion | How China’s maritime strategy is swapping force for research diplomacy – South China Morning Post

Opinion | How China’s maritime strategy is swapping force for research diplomacy – South China Morning Post

May 30, 2025
Newly discovered ‘ghost’ lineage linked to ancient mystery population in Tibet, DNA study finds – Live Science

Unveiling the Secrets of Tibet: A Fascinating ‘Ghost’ Lineage Revealed by DNA Study

May 30, 2025
‘Wicked,’ gardening and Amy Sedaris: 7 events this week – Albuquerque Journal

‘Wicked,’ gardening and Amy Sedaris: 7 events this week – Albuquerque Journal

May 30, 2025
Yankees have a busload of momentum heading into World Series rematch against Dodgers – AP News

Yankees have a busload of momentum heading into World Series rematch against Dodgers – AP News

May 30, 2025
Economists blame Trump tariffs, AI explosion for threatening global economy – theregister.com

How Trump’s Tariffs and the AI Boom Are Shaking Up the Global Economy

May 30, 2025
Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

May 30, 2025
UMC Health System, Texas Tech HSC to honor endowed chairs, professors – Lubbock Avalanche-Journal

Celebrating Excellence: UMC Health System and Texas Tech HSC Honor Distinguished Professors and Endowed Chairs

May 30, 2025
Paris on Politics: Israel-Gaza conflict gets personal in Chicago’s City Council – FOX 32 Chicago

Paris on Politics: Israel-Gaza conflict gets personal in Chicago’s City Council – FOX 32 Chicago

May 30, 2025
Anduril and Meta Team Up to Transform XR for the American Military – Anduril

Revolutionizing Military Training: Anduril and Meta Join Forces to Enhance XR Technology

May 30, 2025
Tennessee Sports Wagering Council cracks down on illegal sportsbooks – WKRN News 2

Tennessee Sports Wagering Council cracks down on illegal sportsbooks – WKRN News 2

May 29, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (650)
  • Economy (664)
  • Entertainment (21,571)
  • General (15,248)
  • Health (9,706)
  • Lifestyle (666)
  • News (22,149)
  • People (666)
  • Politics (672)
  • Science (15,886)
  • Sports (21,170)
  • Technology (15,651)
  • World (652)

Recent News

Opinion | How China’s maritime strategy is swapping force for research diplomacy – South China Morning Post

Opinion | How China’s maritime strategy is swapping force for research diplomacy – South China Morning Post

May 30, 2025
Newly discovered ‘ghost’ lineage linked to ancient mystery population in Tibet, DNA study finds – Live Science

Unveiling the Secrets of Tibet: A Fascinating ‘Ghost’ Lineage Revealed by DNA Study

May 30, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version