January 10, 2008 -- Biosensors International Group (SGX: B20) announced plans to buy the 50% of JW Medical Systems Ltd (JW Medical) that it does not already own. Like Biosensors, JW Medical produces drug-eluting stents (DESs). JW Medical currently controls between 25% and 30% of the $400 million market in China for DESs. Biosensors will exchange 160 million shares for the 50% stake in JW Medical, making the transaction worth about $109 million. The 160 million shares that Biosensors would pay for 50% of JW Medical are about two times revenues. More details...
