MILAN, Dec 7 (Reuters) - A group of Chinese investors, including a private equity fund co-founded by Alibaba head Jack Ma, has agreed to buy Italian medical device group Esaote, the company said on Thursday.
No financial details were provided but a source with knowledge of the matter said the deal was based on an enterprise value for Esaote of more than 300 million euros ($354 million).
In a statement, Esaote said the deal would allow it to speed up its growth plans and provide it access to the fast-growing Chinese market.
The investor consortium includes China’s biggest listed diagnostic imaging group Beijing Wandong Medical Technology Co and homecare medical device group Jangsu Yuyue Science & Technology Development Co.
The deal is expected to be wrapped up at the beginning of next year, Esaote said. ($1 = 0.8483 euros) (Reporting by Stephen Jewkes and Massimo Gaia, editing by Steve Scherer)