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MedTech Outlook | Thursday, September 21, 2023
The acquisition marks a critical turning point in Sisram's consumer-focused strategy and expansion of direct sales, which are intended to improve the company's market positioning and brand identification among consumers.
FREMONT, CA: "PhotonMed's strong market presence and direct sales channels will enable us to be closer to our valued Chinese customers and reinforce our brand recognition in the region," says Mr. Lior Dayan, CEO of Alma and Sisram.
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The leading Chinese distributor of energy-based devices, PhotonMed International ("PhotonMed"), has been acquired by Alma, a wholly-owned subsidiary of Sisram Medical (1696.HK), which declared that it would begin a direct operation in the mainland Chinese market. Alma is the world leader and innovator in providing energy-based medical and aesthetic solutions.
"The establishment of direct operation in mainland China following the recent launch of our new subsidiaries in the UK and UAE perfectly aligns with Alma's commitment to delivering innovative and customer-focused solutions that meet the evolving needs of our global customer base," adds Dayan.
According to a statement in March of this year, Alma spent 270 million RMB (about $40 million) to acquire a 60 percent stake in the company, positioning itself as the largest stakeholder in the new joint venture the two companies formed. The income for the following year is predicted by PhotonMed to be 500 million RMB. The corporation becomes more accessible to its customers by creating a direct presence and moving away from a distribution model, solidifying its market leader position.
"We are happy to become part of the Sisram family and look forward to contributing to further strengthening Sisram's leadership position through our strong market presence and consumer education," states Ms. Debbie Zhou, CEO of PhotonMed.
PhotonMed has been a crucial long-term strategic partner of Alma since 2003, when it first entered the Chinese market. PhotonMed distributes Alma's main energy-based products through the "Feidun" channel. A pioneer in the Chinese industry for energy-based gadgets, Alma has grown its market presence and influence thanks to this long-lasting strategic cooperation.
For many years, PhontonMed has had a significant presence in mainland China, with 14 locations nationwide. The tenth direct branch of Alma has been formed in mainland China, joining the company's other direct branches in the United Kingdom, United Arab Emirates, India, the United States, Australia, Israel, South Korea, Hong Kong Special Administrative Region, and Germany.
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