The acquisition will see the buyer boost its shares in the company to 100%, having purchased a 20% stake last year.
Global law firm Herbert Smith Freehills Kramer (HSF Kramer) has advised contract manufacturer Meiban Group on its acquisition of health technology company Planet Innovation via a scheme of arrangement, the firm announced this week.
Leading the HSF Kramer advisory team were partner Jason Jordan and senior associate Damien Devnarain, with the support of solicitors Sandra Nguyen and Rosalind Wei.
Singapore-based Meiban is a contract development and manufacturing company that provides a range of product development and advanced manufacturing services for the medtech sector. Meiban operates across Asia, the US, Europe and Australia, with facilities in Singapore and Malaysia.
Melbourne-founded Planet Innovation is a product development company that designs, develops and manufactures medical devices in partnership with medtech companies, with facilities in the US and Australia.
Meiban initially formed a partnership with Planet Innovation in 2025 when it acquired approximately a 20% stake in the company. This acquisition brings its total shareholding to 100%.
The transaction will bring together the companies’ respective capabilities to form an integrated contract development and manufacturing company, creating a single organisation capable of delivering the full product development process, from innovation through to commercial-scale manufacturing, as well as expanding the combined reach of the companies across the US, Australia, Asia and Europe.
Following the acquisition, Planet Innovation will continue to operate under its brand name as well as retaining its existing leadership.
HSF Kramer’s Jordan said of the transaction: “It was a pleasure to work with the Meiban team on this transaction, supporting its entry into the Australian market and its broader vision to improve lives through the products both organisations help bring to market.”
CEO of Meiban Cheok Kai Hock commented: “We have brought together two leaders in their field. PI’s exceptional innovation capability and Meiban’s precision manufacturing expertise. Both companies share a clear purpose: to improve lives through the products we help our clients bring to market. We look forward to investing in both businesses to strengthen what we can offer medtech clients worldwide.”
Planet Innovation co-founder and CEO Stuart Elliott added: “Completing this acquisition is the natural next step in a partnership that is already delivering for our clients. Our clients now have something genuinely rare: a single partner with elite capability at every stage of the product journey, and the flexibility to manufacture where it makes the most strategic and commercial sense.”
Source: iclg.com
