Recently, Abbott Laboratories’ $25 billion acquisition of medical equipment manufacturer St. Jude’s transaction proposal has been approved by the US antitrust agency. On December 30, 2016, the Ministry of Commerce of China also approved Abbott’s acquisition of the St. Jude equity case with additional restrictive conditions. This means that Abbott’s acquisition has made a breakthrough, and will soon compete with Medtronic, Boston Science, etc., and accelerate the pace of the Nuggets in the domestic medical device market. China has become the world's second largest medical device market after the United States, with strong growth. Although Abbott’s competitiveness has increased significantly after the acquisition of St. Jude, it is not easy to get a share of domestic medical devices. The main reason is that China hopes to cut prices for medical devices and support domestic medical device companies. Not long ago, Medtronic was fined 118.5 million yuan for alleged monopoly in the country and is believed to be helping the development of local medical devices. Moreover, the long-term policy direction in the future is price control. These unfavorable factors will have certain impact on foreign-invested enterprises such as Abbott Laboratories and Medtronic. In recent years, China is pushing for the localization of medical equipment and encouraging domestic enterprises to develop into the mid-to-high-end market. The willingness of the national government to support the development of the medical device industry is very obvious. It is obviously not a good thing for foreign-funded enterprises, and it is an excellent opportunity for domestic domestic enterprises. China's medical equipment is concentrated in the middle and low-end markets all the year round, and its competitiveness is relatively weak. The industry presents a pattern of “low, small, and scatteredâ€, and its production technology and technology are lagging behind foreign-funded enterprises.
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