Grand Pharmaceutical Group

Grand Pharma's subsidiary agreed to acquire Nanjing Kainite Medical Technology through a series of capital subscriptions and share purchases totaling CNY 29.4 million, with an additional CNY 100 million capital injection into a fund, to build a pan-interventional diagnosis and treatment platform.

A joint venture of Grand Pharmaceutical (via China Grand Enterprise) subscribed for approximately 1.0431 million preferred shares of Conavi Medical Inc for about $7.5 million. The joint venture also obtained exclusive distribution rights for Conavi's Foresight ICE and Novasight Hybrid products in Greater China for 20 years.

Grand Pharmaceutical Group (00512) announced plans to form a joint venture in Hong Kong with Donghai Capital, a subsidiary of its controlling shareholder China Grand Enterprises. The JV, with a total investment of about $15 million, will focus on selling cardiovascular medical devices, including investing in North American manufacturers and establishing sales channels in China.