Midea Group Co., Ltd. has taken control of Italian medical imaging company Esaote S.p.A., adding ultrasound and specialized magnetic resonance imaging systems to its healthcare portfolio, Esaote said Oct. 9.
The purchase gave Midea Imaging Technology (Shanghai) Co., Ltd. a 77.5037% interest in Shanghai Lu Zi Enterprise Management Consulting Center, the partnership that controls Esaote, according to an Oct. 10 filing by Beijing Wandong Medical Technology Co., Ltd. Wandong retained 22.4963%. In Wandong’s filing, those percentages refer to the partnership.
Esaote said the deal is intended to bring together complementary imaging portfolios. Its products include ultrasound equipment, specialized magnetic resonance imaging systems and medical IT solutions. Midea’s imaging range includes digital radiography, high-field MRI and computed tomography. Esaote said Midea plans to invest in research and development, operations and manufacturing, without specifying an amount or timetable.
Esaote CEO Franco Fontana will remain in charge as the company joins Midea Healthcare. Esaote said it will operate independently and keep its Genoa headquarters and research and manufacturing facilities in Italy and the Netherlands. It reported €267 million in revenue for fiscal 2025, with 70% from international markets.
Esaote said it expects access to Midea’s technology and international network. Wandong said its strategy, financial condition, funding capacity and ability to integrate a large overseas acquisition prevented it from matching the purchase terms.
The Australian Competition and Consumer Commission (ACCC) said May 21 that the proposed acquisition was unlikely to materially reduce competition in Australia, citing limited overlap between the companies and alternative suppliers. Morocco’s Competition Council authorized Midea’s acquisition of sole control of Esaote on June 9.
Wandong said its investment in the partnership remained unchanged. Future dealings with Esaote and its subsidiaries will be classified as related-party transactions, it said. Wandong reported about 66.8 million yuan in transactions with Esaote from January through September 2026.
