Another piece of Italy has ended up in Chinese hands. Esaote was 100% acquired by the Midea group. The Italian company, with offices in Genoa and Florence, specializes in the field of medical imaging. Since 2018, a part had already been incorporated by a consortium of Chinese companies (a share of around 22%), then over time Midea gained control of Wdm and then of Esaote.
In a statement, Midea announced that it wants to accelerate Esaote’s growth through targeted investments in research and development, operational and manufacturing capabilities.
Esaote acquired by Midea
The Chinese technological group Midea completes its takeover and takes 100% ownership of Esaote, Italian excellence in the medical imaging sector with headquarters in Genoa and offices in Florence.
Already present in the corporate structure after the initial entry in 2018 led by a consortium of Asian companies, the Foshan giant gradually consolidated its position until the total takeover of the shares, receiving the definitive green light from the Antitrust.
The operation positions Esaote within the Midea Healthcare division, defining a structure that the ownership describes as “an integration of industrial and commercial skills on a global scale”.
The numbers and structure of the group
With around 1,160 employees, of which a fifth work directly in the research and development sector, Esaote represents one of the main players in the development of equipment for:
- ultrasound;
- open MRI;
- Medical IT systems.
The company closed its financial statements with revenues of 267 million euros, 70% of which were generated on foreign markets.
According to what was communicated by the company top management, Franco Fontana has been confirmed in the role of CEO. The company will continue to operate as an independent entity while maintaining its operational, manufacturing and research bases focused in Italy and the Netherlands.
The plan for the future
The transaction is part of the diversification strategy of Midea, a group founded in 1968 and active in sectors ranging from robotics to renewable energy. Through the acquisition, the multinational wants to integrate its offer (which focuses on digital radiography, CT scans and high-field resonances) with the technologies developed by the Italian brand in the field of non-invasive diagnostics.
“The operation opens a new phase,” declared CEO Franco Fontana, underlining the objective of expanding the international presence and advancing the healthcare sector. For his part, Jinlei Chen, President of Midea Healthcare Division, reiterated his intention to leverage Esaote’s reputation and innovation capabilities to expand its global market presence.
