Contamac Ltd Announce Strategic Alliance with Haohai Biological Technology Co Ltd
UK-based Contamac Ltd, the world’s largest independent manufacturer of contact and intraocular lens materials, is delighted to announce that it has formed a strategic alliance with Haohai Biological Technology Co Ltd of Shanghai, in the People’s Republic of China (PRC).
As a result, Haohai will acquire a majority shareholding in Contamac Ltd (subject to PRC approval). Haohai is a high-tech enterprise, principally engaged in the research and manufacture of absorbable biomedical materials for use in a wide variety of surgical applications, including orthopaedics, ophthalmology and medical aesthetics. The company was listed on the Hong Kong Stock Exchange in 2015.
Contamac, a two-time Queen’s Award for Enterprise winner, views the new partnership as a logical and symbiotic progression of its work as a leading innovator in the development of specialist polymers and biocompatible materials for medical applications.
“Our alliance with Haohai will strengthen our research and development capacity in those markets we already serve, and help us to expand into new geographical territories,” says Contamac’s Managing Director, Robert McGregor. “It will also provide us with significant funding to further improve our client liaison and support structures. Haohai will in turn benefit from our specialist expertise in fields tangential to its own, and from our worldwide network of contacts and infrastructure.”
Contamac manufactures contact and intraocular lens materials for supply to third-party laboratories that then craft them into lenses. A family-run business, it has long adopted best practice policies designed to support and raise industry standards, and promises no change in either its leadership or business methods.