Enabling minimally invasive treatment
The products Nanjing Micro-Tech manufactures might at first seem a small part of the healthcare package, but the diagnosis and treatment that the stents, forceps, needles and catheters facilitate can dramatically improve – and ultimately may save – a patient’s life.
Nanjing Micro-Tech was founded in 2000 and has grown to become the largest local player in the Chinese endoscopy consumable sector (endoscopy is a minimally invasive medical procedure used to examine the inside of a hollow organ or cavity, for example the intestine or oesophagus). It has also built a leading market position in ERCP, non-vascular stents and disposable biopsy forceps, and is the only local player with a full suite of endoscopy consumable products in China.
An ageing population, changes in lifestyle, increasing income, and better insurance coverage are driving demand for high quality medical products and services. The global endoscopy consumable sector was a US$4.4bn market in 2011 and is expected to reach US$7.6bn in 2017 with 9.4% CAGR.
Actis invested in Nanjing Micro-Tech in December 2012. Actis helped to recruit key management in R&D, sales and quality control functions. The business has performed well over the past few years; the domestic business grew at more than 20% each year and the export footprint has expanded from Europe to cover over 60 countries.
In 2015, Actis helped Micro-tech acquire Kangyou, the local leader in microwave ablation devices used for the treatment of solid tumours. This acquisition has enabled Microtech to enter an adjacent new product category with strong channel synergies with its existing product lines. With Actis support, Micro-tech is on its way to becoming a leading global value-segment platform in the minimally-invasive surgical products space.