Research On The Performance Of Cross-border Technology M&A Of Medical Device Enterprises Under The Background Of Strategic Transformation

In recent years,the country has paid more and more attention to the medical and health field.In order to ensure the stable development of the medical device industry,the government has formulated a number of policies.At the same time,with the aging of the population in our country,people gradually pay attention to the field of medical health,the aging of population will bring a lot of social changes.Therefore,products that can improve the operation efficiency of the medical system,improve the health level of the population,cost-effective products will continue to have a broad market demand.However,due to the late start of Chinese medical device field compared with foreign countries,there has been no substantial breakthrough in the relevant core technologies in the field of high-value consumables.Therefore,more and more enterprises turn their eyes to foreign excellent companies in the field of medical and health,expecting to achieve "curve overtaking" through cross-border technology mergers and acquisitions to make up for the deficiencies in enterprise R&D and business sectors.The number and scale of cross-border mergers and acquisitions in the medical device industry are increasing,and the government also provides a lot of help and support for enterprises’ cross-border mergers and acquisitions,promoting the transformation and upgrading of the industry.Blue Sail Medical has also put forward a new development strategy of "health protection & medical and health" dual industry platform for the future.However,in the context of enterprise strategic transformation,whether the performance of transnational technology M&A is good or bad,and whether Chinese medical device enterprises have obtained key core technologies and enhanced global competitiveness through transnational technology M&A,these issues are worth further exploration.Accordingly,this paper selects Blue Sail Medical merger and acquisition of Biosensors International as the research object.Based on the background of strategic transformation,this paper analyzes the specific reasons of this transnational technology merger and acquisition,and introduces the specific process of merger and acquisition transaction scheme.Then,it analyzes the performance of Bluesail Medical’s cross-border technology M&A from four aspects: short-term market performance,financial performance,economic added value and innovation performance.The main conclusions of this paper are as follows: First,Blue Sail Medical realizes the strategic transformation of the enterprise through transnational technology merger and acquisition.Through the improvement of performance after merger and acquisition,the company can obtain more profit sources and better resist cyclical and business model risks,thus promoting the successful transformation of the company.Secondly,under the background of strategic transformation,transnational technology M&A improves the overall performance of enterprises.After the technology merger and acquisition of enterprises make up for the shortcomings,overall performance is higher than before the technology merger and acquisition.Thirdly,cross-border technology merger and acquisition is an important way of domestic substitution of medical device products.The main contributions of this paper are: first,in the study of cross-border M&A in the context of strategic transformation,most scholars have mainly conducted an empirical study from a macro perspective,and even if the study is conducted from a micro perspective,most of the subjects chosen are other manufacturing industries,while there are few studies on cross-border technology M&A in the medical device industry.The case study of cross-border technology M&A in the medical device industry is a special study that can fill the gap in the current research on cross-border technology M&A in the medical device industry.Second,this paper constructs a framework for evaluating the performance of crossborder technology M&A in the context of strategic transformation through theoretical analysis,and selects different research methods and uses various M&A performance indicators to study the cross-border technology M&A performance of enterprises based on strategic transformation.