Source: IVD Sales Practical Class
Since the first IVD company was listed on the Shenzhen Stock Exchange in 2004, the in vitro diagnostics industry has seen nearly 40 publicly listed companies in just 16 years. It must be said that the era has given entrepreneurs in the industry the opportunity to grow and provided early entrants in technological and model innovation a chance to strengthen their positions.
Some of these listed companies focus on product development, some on integration, and others on third-party services, etc. Today, we will dissect the product business lines of these companies (excluding COVID-19 related products).
01
Mindray Medical: A Giant Among Domestic Medical Enterprises
The Anke system was once synonymous with the Shenzhen medical device industry. Although Anke no longer exists, the people who came from Anke have achieved Mindray, Libang, Agilent, and Reidu… Along the way, the “Mindray Trio” has created a trillion-yuan empire. In the future, the Mindray system may become synonymous with Shenzhen’s medical device industry.
Mindray Medical started in 1992 by representing monitoring equipment from giants like GE and Siemens, earning its first million, and now has a market value of over 300 billion, having made numerous millions along the way. Its future development potential is immeasurable.
Business Direction: The product line covers life information and support, in vitro diagnostics, medical imaging, and surgical products. In the IVD field, it has formed sub-product lines in biochemistry, luminescence, hematology, coagulation, microbiology, urinalysis, flow cytometry, etc. At the same time, it is promoting Mindray’s standardized laboratory, with strong channel capabilities matching the empowerment of the entire product line. The future competitive barriers will continue to strengthen!
Mindray Medical Business Lines
(Image source: Mindray official website)
02
Mike Biotech: The Southwest Dominator Competing for Industry Giants
Founded in 1994, Sichuan Mike was established; in 2001, Yunnan Mike was established; in 2003, Guizhou Mike was established; in 2005, Chongqing Zhengtu (Mike’s Chongqing branch) was established. Thus, Mike began the path of representing foreign giant brands in the Southwest and selling self-produced biochemical reagents. Looking back, the original co-founders or branch heads now have their own enterprises, such as Sichuan New Health. It is precisely based on the strong network in the Southwest that the listed company Mike Biotech exists today.
Business Direction: Mike Biotech’s products cover biochemistry, immunology, hematology, molecular diagnostics, POCT, pathology, etc. At the same time, Mike is actively participating in the overall packaging of the inspection department, and has done many related cases in the Southwest, especially in Sichuan. In the future, it will certainly launch its own intellectual property biochemical immunoassay line. Their ambition is clearly significant based on their layout over the years.
Mike Biotech Business Lines
(Image source: Mike official website)
03
Anhui Biotech: A Leader Known for Stable Development in the Central Plains
Founded in 1998, Anhui Biotech’s senior executives have worked together since the company’s inception, and many of them previously worked together at the Bosai Research Institute, with nearly 30 years of collaboration, resulting in a very stable middle and senior management team. In recent years, after going public, Anhui has accelerated its development pace with the help of capital, focusing on “product line + technology + channel”.
On September 1, 2016, Anhui Biotech Co., Ltd. was listed on the Shanghai Stock Exchange. After going public, two acquisition events must be mentioned: In December 2016, Anhui Biotech prepared to spend 170 million yuan to acquire the exclusive agency rights for all Toshiba fully automatic biochemical analyzers in China, entering the field of fully automatic biochemical instruments. In May 2017, Anhui Biotech acquired 75% of Beijing Bai’ao Kangle Biotechnology Co., Ltd. for 202.5 million yuan, quickly entering the biochemical diagnostic field.
Business Direction: After completing its biochemical production line layout, Anhui Biotech has formed four main products: biochemistry, immunology, microbiology, and flow lines. At the same time, Anhui Biotech is also actively expanding the overall packaging of the inspection department and regional co-construction business. In the future, Anhui Biotech will have strong competitiveness in the domestic IVD field. Additionally, the pre-processing, Toshiba biochemical module, and Anhui’s self-produced luminescent module form a flow line, with many cases already established nationwide.
Anhui Biotech Business Lines
(Image source: Anhui official website)
04
New Industry: A Pioneer in the Domestic Luminescence Field, Finally Completed Listing
Shenzhen New Industry was established in 1995. In February 2010, it successfully launched China’s first fully automated chemiluminescence immunoassay analyzer and supporting reagents in the market, belonging to the first tier of the domestic chemiluminescence field. On July 25, 2014, it was listed on the National Small and Medium Enterprises Share Transfer System (New Third Board), and on July 26, 2017, it terminated its listing on the New Third Board; in December 2017, it was approved for listing on the Growth Enterprise Market, and after a long wait, on May 12, 2020, New Industry was officially listed on the Shenzhen Stock Exchange’s Growth Enterprise Market.
The company adopts a sales model of “mainly distribution, supplemented by direct sales,” with a responsible person in each province. Compared to the sales management levels of other companies: region – province – district – (deputy director) director – general manager (CEO, founder). In New Industry, there is no position for a district manager, which provides a great training opportunity for provincial and district heads; many have been with New Industry for over ten years.
Business Direction: New Industry mainly focuses on the research, production, and sales of chemiluminescence, while also involving biochemistry diagnostics. From a strategic perspective, it is likely that New Industry is preparing to enter the field of self-owned intellectual property biochemical immunoassay lines, as the next era will be one of luminescence domestic substitution. After completing luminescence domestic substitution, the substitution of flow lines will accelerate. Currently, it is cooperating with Thermo Fisher to jointly create the Satlas-TCA laboratory automation overall solution.
New Industry Business Lines
(Image source: New Industry official website)