Medtronic and Weigao Announce Joint Venture in China

Medtronic and Shandong Weigao Group have agreed to market therapies in the spine and orthopedics sector, with Medtronic acquiring a 15 percent interest in Weigao for approximately $221 million.

The joint venture will market Medtronic’s spinal products and Weigao’s orthopedic products, which include therapies for the hip, shoulder, spine and trauma, in China.

Medtronic said it will have a 51 percent interest in the joint venture and Weigao will have a 49 percent interest.