Sanyang Industry Co. plans to boost its stake in Taiwanese medical device maker Apex Biotechnology Corp. to about 15%, positioning itself to become the company’s largest shareholder.
The motorcycle manufacturer will invest NT$290 million ($9.1 million) to purchase additional shares of Bionime, surpassing the 9.74% stake held by Apex Biotechnology Chairman Yan-Shi Shen. Sanyang currently owns 7.36% of the medical equipment maker.
The investment aligns with Sanyang’s strategy to diversify beyond its core motorcycle business into Taiwan’s biotechnology sector. The company is particularly interested in Apex Biotechnology’s blood glucose monitoring systems, which are awaiting regulatory certifications.
Sanyang expects to acquire approximately 86,940 Apex Biotechnology shares at an average price of NT$33.39 per share. The transaction would increase Sanyang’s total holdings to approximately 160,500 shares.
The move represents a significant shift for Sanyang as it seeks new growth opportunities outside its traditional manufacturing base, though the success of this diversification strategy remains to be tested in the competitive medical device market.
