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China: TBG forms jv with Xiamen Haicang

Australia’s TBG Diagnostics, a global molecular diagnostic company operating in the IVD industry, has formed a 60/40 joint venture with Haitou Group subsidiary, Xiamen Haicang Biotechnology Development.

The purpose of the joint venture is to build and operate a medical laboratory at TBG’s facility located within the Xiamen Biobay, a 10 square kilometer biomedicine industrial park home to more than 100 biomedical enterprises in Xiamen's Haicang district.

Both companies have committed to a total capital of Rmb30 million (US$4.5 million) for the joint venture with TBG contributing 60% and Xiamen Haicang 40%. The first stage investment of Rmb5 million will be used to build a 1,200 square meters laboratory and be located at TBG’s premises in the BioBay.

Construction will complete in May next year.

Posted on: 06/12/2017 UTC+08:00


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