Sanpower Group recently participated in the establishment of a RMB 680 million acquisition fund for Shanghai Find Bio-Tech Co., Ltd. This will be the largest acquisition of its kind in the history of China’s domestic genetic testing industry.

On February 23rd, a press conference was held at the Sanpower Group headquarters to announce the Find Bio-Tech project and discuss its future. The meeting was attended by Sanpower Group President, Madam Yang Huaizhen, Vice President of Sanpower Group, Ms. Wang Tongyan and the founder of Find Bio-Tech, Mr. Li Jun.

From left to right: Wang Tongyan, Yang Huaizhen, Li Jun

Following the official launch of China’s two-child policy in January 2016, the number of high-risk pregnancies has dramatically increased. This has led to a correspondingly rapid rise in prenatal testing. As non-invasive prenatal testing (NIPT) options have become more effective, accurate and less risky than traditional blood tests for Down’s screening, the NIPT market is expected to grow rapidly. At present, in China’s NIPT field, a host of leading enterprises such as BGI, Berry Genomics, and Shanghai Find Bio-Tech are coming to the fore.

Li Jun, founder of Find Bio-Tech

For Find Bio-Tech, the acquisition will give the company a promising set of opportunities to expand its market share. Once the acquisition is completed, Find Bio-Tech will be able collaborate in several ways with Sanpower’s existing industrial sectors, thus tapping into the tremendous potential of the genetic testing market.

Yang Huaizhen, President of Sanpower Group

In the future, Find Bio-Tech’s NIPT and cancer screening products will be promoted through Sanpower’s network of hospitals and healthcare institutions. At the same time, the company will also be able to harness the resources of Nanjing Cenbest’s cord blood bank under Sanpower to grow market share. Additionally, Find Bio-Tech can combine its individualized prescription and genome sequencing services with Cenbest’s senior-care assets to provide Cenbest’s 4 million-strong subscribers with guided treatments, relapse testing and other services. Finally, Find Bio-Tech is currently developing tumour screening and diagnosis technology which it will use to provide data for the early prevention and screening of geriatric diseases.

Wang Tongyan, Vice President of Sanpower Group