On November 16, Medtronic, Inc., one of the giants in medical device industry, announced the completion of the acquisition of China Kanghui Holdings. Under the agreement, Medtronic paid about $ 816 million in cash to this NYSE listed company.

Kanghui Holdings is headquartered in Changzhou, which is a premier domestic orthopedic company in China that offers a full array of products in trauma, spine, and surgical instrumentation. In addition, the company has established a wide range of distribution channels, doing business in 29 other countries.

It is reported that after the acquisition, Medtronic will expand Kanghui’s products and services in orthopedic surgery, as well as strengthening the company’s existing position in the areas of spine, neurosurgery, regulation, etc.