US-based Medtronic Inc., manufacturer of a well-known line of defibrillators and AEDs including the popular Medtronic Physio-Control Lifepak 500 AED, has announced a joint venture with Hong Kong-based Shandong Weigao Group.
Medtronic, which will own a 51% interest in this venture, will continue to manufacturer its products in the US. Rather than this being another case of an American company moving to China to make products to be sold back to American consumers, Medtronic will now offer quality American-made products to new Chinese consumers.
The terms of this agreement will initially focus on Medtronic’s spinal-fusion surgery devices, and will allow Medtronic to capitalize on Weigao’s expertise in artificial hips and knees.
According to a Medtronic spokesman, the company has had some presence in China since 1989, but its China earnings represented only two to three percent of its total bottom line. That will now change, though it has not been reported whether the terms of this agreement will allow Medtronic to access Weigao’s customer base to expand its market position in Asia for other Medtronic products, such as their line of defibrillators.
Medtronic Emergency Response Systems is a leader in defibrillation technology. Over 40 years ago, Medtronic Emergency Response Systems defibrillators set the standard upon which an entire industry was built.
DRE carries professionally refurbished Medtronic Physio-Control Lifepak Defibrillators and AEDs systems in our Louisville, Kentucky warehouse.