Chinese health care groups purchased a condom brand Thursday named after fictional British spy James Bond for hundreds of millions of dollars.
Humanwell Healthcare Group Co. and CITIC Capital China Partners III LP paid $600 million Thursday to acquire Australian-based maker of latex gloves and surgical masks Ansell Ltd., Bloomberg reports. Ansell makes a brand of condom named after James Bond called, “Jissbon.” Jissbon is the Chinese translation of the popular spy character known for his sexual escapades with beautiful women.
The condom market in China is expected to balloon to $5 billion over the next decade, according to a report by Transparency Market Research. China has revved up its safe-sex education programs, after the nation got hit with a giant uptick in sexual infections starting in the late-90s.
China experienced an epidemic of sexual transmitted infections and a skyrocket in serious sexually transmitted diseases, like AIDS, according to report by BioMed Central. China had around 575,000 living with H.I.V./AIDS in 2015. New infections of syphilis and herpes simplex virus rose by over 50 percent from 2000 to 2009.
Shares of Ansell raised nearly 4 percent in the Australian market Thursday, after news of the deal circulated. Shares are up 4.1 percent in U.S. stock markets Thursday.
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