May 03, 2012 -- Johnson & Johnson (China) Investment Ltd announced today the acquisition of Guangzhou Bioseal Biotechnology Co Ltd, a biopharmaceutical company specialising in the design, development and commercialisation of a porcine plasma-derived biologic product for controlling bleeding during surgery.
Financial terms of the transaction were not disclosed.
The company said that the acquisition was completed after obtaining all necessary Chinese Government approvals.
Bioseal manufactures a porcine-derived fibrin sealant, BIOSEAL, currently the only porcine plasma-derived fibrin sealant approved for use in China. Fibrin sealants are used by surgeons as an adjunct to haemostasis for use in patients undergoing surgery, when control of bleeding by standard surgical techniques is ineffective or impractical.
Bioseal will work closely with Ethicon Inc, a Johnson & Johnson company, which offers a complete line of absorbable haemostats with a commitment to advancing the future of biosurgery beyond haemostasis, to seal leaks, join structures and enhance healing. The acquisition of Bioseal will reportedly complement Ethicon's existing biosurgery portfolio and will allow the business to immediately enter the fibrin sealant market in China, broaden product offerings and create an opportunity to increase global reach by introducing advanced biologic solutions that meet the various needs of more physicians and patients, throughout Asia and around the world.
This is reportedly the first acquisition in the medical device industry for Johnson & Johnson (China).