Sisram Medical Expands Footprint in Mainland China, Acquires Giant Medical Aesthetic Distributor - PhotonMed
HONG KONG, March 30, 2023 /PRNewswire/ -- Sisram Medical Ltd (the "Company" or "Sisram",: 1696.HK; together with its subsidiaries collectively referred to as the "Group"), a global leading innovator and provider of medical aesthetic devices, has announced that Alma Lasers ("Alma"), a wholly-owned company by Sisram, has entered an agreement to acquire the PRC leading energy-based devices distributor, PhotonMed International Limited ("PhotonMed"). As part of the acquisition, Alma paid 270 million RMB to secure 60% of the business, becoming the major shareholder in the new joint venture. The acquisition will strengthen Alma's distribution channels and increase its profits by enabling direct sales of energy-based devices in the PRC market.
PhotonMed, an important long-term strategic partner of Alma and a leader in the PRC market, has been distributing Alma's energy-based devices since 2003. The acquisition represents a major step in Sisram's direct sales expansion and direct-to-consumer strategic layout, aimed at strengthening the group's positioning, brand recognition, and advancing its deep cultivation and penetration in the PRC market.
Earlier this month, Sisram released its annual results for 2022, posting record revenue for the second consecutive year in a row. Full-year revenue reached $354.5 million, representing 20.5% year-over-year growth. The profit was US$40.1 million, indicating an increase of 23.2% YoY. Over the past year, the Company has achieved significant expansion in North America, APAC, and the Middle East.
"Acquiring PhotonMed is a significant milestone in strengthening our localization efforts in the PRC markets," said Mr. Lior Dayan, CEO of Alma and Sisram.
"Today, Sisram is stronger than ever in the PRC market, and we remain committed to developing products that align with the unique needs of our customers. Our marketing strategy involves increasing investment in B2C marketing to drive consumer demand. Additionally, we plan to upgrade our digital integration in post-sales and data analysis to optimize the selling cycle. The integration of PhotonMed's business will further enhance our leading position in the PRC market and reinforce our global leadership."
Mr. Liu Yi, Chairman and Executive Director of Sisram, said, "We are excited to enter into this strategic agreement with PhotonMed. As the PRC is a crucial market in the Asia-Pacific region, it is also a strategic market for Sisram. By integrating PhotonMed's business, we will be able to make significant advances in the PRC market while mutually empowering the Company's four business segments. This aligns with Sisram's objectives to expand globally, foster cross-business collaboration, and establish a medical grade wellness ecosystem"
About Sisram Medical Ltd
Sisram Medical Ltd (1696.HK) is a global consumer wellness group, featuring a first-of-its-kind synergistic ecosystem of business building blocks and consumer-focused branding, ranging from Energy Based Devices, injectables, aesthetics and digital dentistry, personal care and more. The company is majority-owned by Fosun Pharma, one of China's leading healthcare groups. On September 19, 2017, Sisram Medical went public, becoming the first Israeli company ever to trade on the Main Board of the Hong Kong Exchange.
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