French biotechnology company bioMérieux has bought $114 million stake in Chinese medical devices maker Suzhou Hybiome Biomedical Engineering.
Under the transaction, bioMérieux has owned 54 percent of Hybiome shares for $101 million and an additional $13.5 million for the remaining shares.
As a result of the deal, Suzhou Hybiome Biomedical Engineering was valued at $187 million.
In 2017, bioMérieux generated $2.6 billion in revenue.