Medical equipment procurement in Chinese hospitals fell 32% year-over-year in April, driven by the impact of a demanding comparison base in the first quarter of 2025 and volume-based procurement policies, Jefferies said in a note Monday.
The April decline marks a deepening slowdown from the 14% drop in the first quarter of 2026.
United Imaging Healthcare's (SHA:688271) hospital procurement sales fell 47% in April due to the prior year's elevated baseline, Jefferies said.
Amid the decline, domestic hospital equipment maker Shenzhen Mindray Bio-Medical Electronics (SHE:300760) saw a 15% sales growth, especially in the ultrasound and patient monitoring and life support segments, during the month.
GE Healthcare's China sales were in line with expectations. While the equipment maker forecasts lower sales in 2026, it sees a more stable China market, and Jefferies also expects improvement in 2027.