Life science technology company Sanovas plans to create a venture capital fund and innovation center in the China-based Suzhou Institute of Nanotechnology and NanoBionics.
Here's what you should know:
1. Sanovas is hoping the move will increase the company's Chinese sales.
2. The venture capital fund will invest $75 million in the development of Sanovas' surgical imaging, thoracic oncology, interventional pulmonology, ENT, ophthalmology and biosciences platforms.
3. Suzhou City Mayor Xiang Wang said in a release, "We respect Sanovas and the company's approach to developing innovative technologies and improving treatments in medicine for so many."
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