Two Chinese Medical-Device Makers Declare Bankruptcy After Winning Bulk-Buying Bids
Two Chinese medical device firms have declared bankruptcy after successfully winning bids in a government-led bulk-buying program, a first-of-its-kind event that spotlights the intense financial pain inflicted by the state’s cost-cutting measures. The Tianjin Medical Procurement Center announced recently that two companies selected in an inter-provincial alliance for orthopedic trauma products, Changzhou Dzhang Medical Device…

