Inogen (INGN) said Sunday it has entered into a partnership with Jiangsu Yuyue Medical Equipment & Supply with the intention of boosting its portfolio of respiratory products, expanding its research pipeline and accelerating its entry into China.
Under the agreement, a Jiangsu Yuyue affiliate will also invest about $27.2 million in Inogen, representing a 9.9% equity stake, the company said.
The collaboration agreement comes into effect immediately, with the purchase of the equity stake expected to close in Q1, the company said.
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