Esaote goes Chinese: Midea becomes 100 per cent owner

The Chinese group Midea has completed the acquisition of 100 per cent of Esaote, an Italian company headquartered in Genoa and also with offices in Florence, specialising in the field of medical imaging. The company was acquired by a consortium of Chinese firms in 2018; a group that included Wdm, with a stake of just over 22 per cent. Subsequently, Midea gained control of Wdm, along with its stake in Esaote; it has now increased its shareholding in the Italian group to 100 per cent. The green light from the Competition Authority, however, had been given at the end of June.

Midea, a global technology group based in the area of the city of Foshan – which is part of Shunde District – aims, according to a statement, to accelerate Esaote’s growth “through targeted investments in research and development, operational and manufacturing capabilities”. The new partnership will provide Esaote with access to a broader technological ecosystem, complementary imaging solutions and a wider innovation platform. Esaote will therefore be ideally placed to accelerate product development, reduce innovation cycle times and explore new applications and market segments’.

Meanwhile, the statement continues, “the deal will strengthen Midea’s position in the global medical imaging sector”. The Chinese company’s comprehensive product portfolio, which covers DR (digital radiography), high-field magnetic resonance imaging, CT and DSA (digital subtraction angiography), adds the statement, “perfectly complements Esaote’s globally recognised premium brand and its proven strengths in ultrasound and MRI systems” (open MRI), as well as in Medical IT solutions, creating strong synergies between both parties’. The company, according to the new owners, will continue to be led by Franco Fontana, who has been confirmed as CEO by the new investors.