China Grand Pharmaceutical and Healthcare

China Grand Pharmaceutical and Healthcare Holdings Limited and CDH Genetech, Ltd. received CFIUS clearance for their joint acquisition of Sirtex Medical Limited, an Australian medical device company, for approximately A$1.9 billion (US$1.4 billion).

Australian medical device firm Sirtex Medical agreed to a binding scheme implementation deed for A$1.9bn ($1.43bn) acquisition proposal from CDH Genetech and China Grand Pharmaceutical and Healthcare (CGP). The deal is at A$33.6 per share, higher than a previous offer from Varian.

China Grand Pharmaceutical and Healthcare entered into a joint venture agreement with Canada's Conavi Medical Inc, acquiring exclusive regional distribution rights for Conavi's Foresight ICE and Novasight Hybrid systems in Mainland China, Hong Kong, Macau, and Taiwan for 20 years.