Blackstone Invests in Xinrong Best Medical Instrument (Asia)

Source: The Blackstone Group, Asian Venture Capital Journal | Author(s): Andrew Woodman

Global investment and advisory firm The Blackstone Group has invested in China-based Xinrong Best Medical Instrument, a manufacturer of orthopedic implants for trauma, spine and joint applications. The transaction was reported to be worth around US$100 million. The company intends to use the capital to upgrade Xinrong’s management and increase its market share. Financial details of the transaction were not disclosed.