The Chinese pharmaceutical company Shanghai Pharmaceuticals Holding Co. has acquired 100% of the share capital of the Finnish dental equipment manufacturer Fimet Oy along with its operations in Finland and China, Helsinki Times reports.
Fimet Oy manufactures and sells dental care units in Europe and China and together with Shanghai Pharmaceuticals the companies will benefit from large scales of purchase volumes and manufacturing and combined with European technology it will give a strategic edge.
About the acquisition, Shen Qi, from Shanghai Pharmaceuticals says, “Fimet Oy is a profitable and professionally run company with a long history, good market position, good reputation, and product portfolio so we are delighted to enter the dental equipment market with them. This acquisition strengthens Fimet’s position on the market and increases the market share in China and is synergistic with Shanghai Pharmaceuticals’ strategic aspiration to become a significant global player in the dental equipment business.
“We will continue to look for partners in the European market, looking for suitable new technologies and new products, and constantly enrich our product portfolio to offer more complete solutions to dental professionals” Shen Qi adds.
The sellers consist of a group of private investors and entrepreneurs and representing them is Turo Levänen former Chairman of the Board who says that the previous owners of Fimet are happy with the new owners. “Selling the shares to Shanghai Pharmaceuticals was a very natural solution as both had long and successful partnering over 25 years. Fimet is now ready for the next step and to grow into a more significant position in the global markets. Shanghai Pharmaceuticals is a very large company providing a solid base for long term investments and development of Fimet as well as has given a strong commitment to future”