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Citic Private Equity eyes full Biosensors ownership as share price slides

18 Feb 2014

doctors-operate_sqChinese buyout investor Citic Private Equity is reportedly considering bid to gain full control of medical device maker Biosensors International following a dramatic slide in the company’s value.

Citic bought a 22 per cent stake in Biosensors three months ago following a decline in the company’s share price, which has now halved in value since a peak last February according to Bloomberg.

It said the firm paid $312m for that stake in the business, which currently has a market value of about $1.2bn.

Hony Capital holds a stake of about 16 per cent in the company following an initial stake purchase in 2010.

Biosensors makes medical devices such as stents, which are used to prop open blocked arteries.

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