THE WHAT? Medmix has continued its Asia expansion with the acquisition of a majority stake in Guangdong Qiaoyi Plastic Co, a beauty manufacturing business in Shantou.
THE DETAILS The transaction is expected to close in the first half of 2023, with the current owners of Qiaoyi retaining a minority shareholding in the company and will continue to operate the business.
According to a press release, “This will allow medmix to leverage the entrepreneurial spirit and deep market expertise of Qiaoyi as well as access the established local customer relationships with its award winning GEKA applicators for local beauty brands.”
THE WHY? The acquisition is in line with the company’s local growth strategy in China, and is said to “strategically position medmix as a player in the Chinese beauty sector, the fast growing second largest cosmetic products market in the world.”
Girts Cimermans, CEO of medmix, said: “We continue to execute on our strategic local for local growth plan in China. China is the second largest Beauty and Personal Care market worldwide, expected to grow strongly over the coming years. With the acquisition of Qiaoyi we will benefit from this market growth, expand our customer reach and improve our access to native Chinese brands for our wider range of products.”
Medical aesthetic products refer to a category of products used in the field of medical aesthetics, which combines medical practices with cosmetic procedures to improve the appearance of individuals. These products are typically used under the supervision of trained medical professionals such as dermatologists, plastic surgeons, or specialized nurses. They are distinct from over-the-counter cosmetics in that they often contain higher concentrations of active ingredients or require medical expertise for their application.
Examples of medical aesthetic products include:
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Dermal Fillers: Injectable substances used to restore volume, fill wrinkles, and enhance facial contours. These may include hyaluronic acid fillers like Juvederm or collagen-stimulating fillers like Sculptra.
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Botulinum Toxin (Botox): Injectable neurotoxins used to temporarily paralyze facial muscles, reducing the appearance of wrinkles and fine lines caused by facial expressions.
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Chemical Peels: Solutions containing chemical exfoliants like glycolic acid, salicylic acid, or trichloroacetic acid, used to improve skin texture, treat acne scars, and reduce hyperpigmentation.
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Laser and Light Devices: Equipment used for various skin treatments, including hair removal, skin resurfacing, tattoo removal, and treatment of vascular and pigmented lesions.
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Prescription Skincare Products: Formulations containing active ingredients such as retinoids (e.g., tretinoin), hydroquinone, or prescription-strength antioxidants, designed to address specific dermatological concerns under medical supervision.
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Microneedling Devices: Devices that create tiny punctures in the skin to stimulate collagen production and improve skin texture and elasticity.
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Cosmeceuticals: High-quality skincare products that bridge the gap between cosmetics and pharmaceuticals, often containing biologically active ingredients with proven efficacy.
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