Blackstone buys stake in Chinese implant maker

Blackstone has agreed to make a significant investment into Xinrong Best Medical Instrument, a Chinese maker of orthopaedic implants for trauma, spine and joint applications.
China’s orthopaedic implant market will grow from $1.3 billion in 2013 to $4.1 billion in 2020, driven by an ageing population, increasing disease, improving treatment rate and growing affordability, according to Boston Consulting Group.
“With China’s ageing population and increasing disposable income, the market growth for orthopaedic implants is significant,” said Blackstone senior managing director Yi Luo in a statement on Tuesday. Luo is based in Shanghai and led the deal.