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MicroPort® Completes the Acquisition of the Cardiac Rhythm Management Business from LivaNova

[2018-04-30] 

London and Shanghai – On April 30, 2018, MicroPort Scientific Corporation (HK: 00853) ("MicroPort®") announced the closing of the transaction to acquire the Cardiac Rhythm Management ("CRM") Business from LivaNova PLC (NASDAQ:LIVN) ("LivaNova"). Upon completion of the acquisition, the acquired CRM Business is now officially rebranded as MicroPort® CRM. This acquisition is expected to establish MicroPort® CRM as the fifth largest CRM business in the world and make MicroPort® the most advanced domestic company in China with CRM know-how in the global CRM market.
 
MicroPort® will keep the CRM Business as a stand-alone business unit with manufacturing operations in Clamart, France; Saluggia, Italy; Santo Domingo, Dominican Republic; Shanghai, China. MicroPort® CRM will continue to develop, manufacture and market products for the diagnosis, treatment and management of heart rhythm disorders and heart failures, based on its legacy of having more than one million patients implanted globally over nearly four decades. MicroPort® CRM has approximately US$246 million in revenue in 2017 and over 900 employees globally.
 
The market size of the global CRM addressable market is approximately US$10 billion. In particular, the Chinese CRM market is growing rapidly at 11% per year due to an aging population and a highly underpenetrated patient population.
 
"Currently, there are over one million patients suffering from bradycardia in China with an estimated 300,000 to 400,000 new cases annually. With an increasingly more domestic companies such as MSC getting to master the core technologies to treat these patients, China will no longer solely rely on imports for pacemaker devices," said Dr. Li Wang, Chief Executive Officer of MicroPort Sorin CRM (Shanghai) Co., Ltd. ("MSC"), a wholly owned subsidiary of MicroPort®. In September 2017, MSC announced the approval of China Food and Drug Administration for its Rega™ Family Implantable Pacemakers, the first domestically manufactured pacemakers that meet international standards in China. Rega™ Family Implantable Pacemakers has three series (Orchidee™, Trefle™, and Rega™) with a total of eight models.
 
"This is an exciting transaction for the MicroPort® CRM team, our partners, our customers, our patients and the communities we operate in," said Benoit Clinchamps, President of MicroPort® CRM. "MicroPort® has a longstanding tradition for innovation and investment in R&D and I believe such philosophy will extend to MicroPort® CRM to help the CRM business reach its potential and increase its global scale."
 
"The CRM business is a key driver for MicroPort®'s future growth and has a robust pipeline with great potential in the global CRM market," said Dr. Zhaohua Chang, Chairman and Chief Executive Officer of MicroPort®, "We are committed to investing in the business to realize the full potential of its product pipeline and look forward to developing new, innovative solutions, with the purpose to serve more patients and thereby eventually earn a top ranking market share that the CRM technologies well deserve."
 
"With MicroPort® CRM, we have created a dynamic global CRM business platform for the benefit of patients globally and MicroPort®’s shareholders," said Jonathan Chen, Chief International Business Officer of MicroPort®. "We look forward to supporting the global CRM team with the resources required to achieve its strategic objectives."

 

About LivaNova
 
LivaNova PLC is a global medical technology company built on nearly five decades of experience and a relentless commitment to improve the lives of patients around the world. LivaNova's advanced technologies and breakthrough treatments provide meaningful solutions for the benefit of patients, healthcare professionals and healthcare systems. Headquartered in London and with a presence in more than 100 countries worldwide, the company employs more than 4,500 employees. LivaNova operates as three business franchises: Cardiac Surgery, Neuromodulation and Cardiac Rhythm Management, with operating headquarters in Mirandola (Italy), Houston (U.S.A.) and Clamart (France), respectively.

For more information, please refer to: www.livanova.com

About MicroPort®

MicroPort Scientific Corporation (the "Group") is a leading medical device company with business focusing on innovating, manufacturing, and marketing high-quality and high-end medical devices globally. With a diverse portfolio of products now being used at an average rate of one for every 12 seconds in thousands of major hospitals around the world, the Group maintains world-wide operations in a broad range of business segments including Cardiovascular, Orthopedic, Cardiac Rhythm Management, Electrophysiological, Endovascular, Neurovascular, Surgical, Diabetes Care and Endocrinal Management, and others. MicroPort® is dedicated to becoming a patient oriented global enterprise improve and reshape patient lives through application of innovative science and technology.

For more information, please refer to: www.microport.com

Forward-Looking Statements

Some information contained on this website contains forward-looking statements. These forward-looking statements include, without limitation, those regarding our future financial position, our strategy, plans, objectives, goals and targets, future developments in the markets where we participate or are seeking to participate, and any statements preceded by, followed by or that include the words "believe", "intend", "expect", anticipate", "project", "estimate", "predict", "is confident", "has confidence" and similar expressions are also intended to identify forward-looking statements. Such statements are based upon the current beliefs and expectations of MicroPort®'s management and are subject to significant risks and uncertainties. MicroPort Scientific Corporation undertakes no obligation to update any of the statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that could cause actual future results to differ materially from current expectations include, but are not limited to, general industry and economic conditions, PRC governmental policies and regulations relating to the medical device manufacturing industry, competition in the medical device manufacturing industry, our ability to develop new products and stay abreast of market trends and technological advances, our goals and strategies, our ability to execute strategic acquisitions of, investments in or alliances with other companies and businesses, fluctuations in general economic and business conditions in China.

This document is for information purposes only and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for any securities of MicroPort Scientific Corporation, and no part of it shall form the basis of, or be relied upon in connection with, any agreement, arrangement, contract, commitment or investment decision in relation thereto whatsoever.

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Copyright © 1998-2018 MicroPort Scientific Corporation

CONTACT:
Leanne Li
Board Secretary and Vice President of Corporate General Affairs
MicroPort Scientific Corporation
Tel: (86)(21) 38954600-6953
Email: ir@microport.com

 

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