A Chinese consortium comprising medical technology and healthcare firms, and financial investors, has signed a definitive agreement to purchase the entire share capital of Italy-based medical equipment maker Esaote.

The transaction involves all of Esaote’s outstanding shares, including those held by Ares Life Sciences, NB Renaissance Partners, Value Italy, Equinox, Carlo Castellano, and Carige.

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The deal is said to aid Esaote’s growth by offering improved access to the growing medical equipment market in the country.

In parallel, the consortium would leverage Esaote’s research and development (R&D) capabilities, product portfolio and international distribution network for the medical imaging industry.

Following the completion of the acquisition, the company will function as an independent entity and will continue its R&D and manufacturing activities in Italy and the Netherlands.

“The deal is said to aid Esaote’s growth by offering improved access to the growing medical equipment market in the country.”

Esaote CEO Karl-Heinz Lumpi said: “We look forward to learning from and leveraging their deep knowledge and experience of the Chinese market where the potential for growth is significant, especially considering that the ultrasound sector alone is worth nearly €1.3bn in China.”

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After the transaction, which is estimated to close next year, Lumpi will continue to lead Esaote.

The consortium purchasing the firm includes Beijing Wandong Medical Technology, Jiangsu Yuyue Science and Technology Development, Shanghai Yunfeng Xinchuang Investment Management, Shanghai FTZ Fund Management, Shanghai Kangda Medical Equipment Group, and Shanghai Tianyi Industries.

While the consortium will bolster Esaote’s Chinese presence through Wandong, Yuwell, Meinian, and Kangda distribution networks, the company will market the consortium’s relevant products in other markets within its reach.