MicroPort Scientific Announces Acquisition of 100% Equity in Hemovent GmbH for €88 Million

This article is sourced from: Zhitong Finance

Zhitong Finance APP reports: MicroPort (00853) announced that the conditions precedent to the acquisition by its subsidiary, MicroPort Surgical B.V. (MicroPort Surgical), of all the issued share capital of Hemovent GmbH (Hemovent) from its existing shareholders (the Sellers) for a consideration of EUR 88 million have recently been fulfilled. Upon completion of the transaction, Hemovent will become a wholly-owned subsidiary of the Group. The Sellers and their respective ultimate beneficial owners are independent of the Company and its connected persons.

Additionally, if Hemovent achieves certain product development milestones and conditions within five years from the Completion Date, the Group will pay the Seller an additional amount of up to EUR 35 million.

Hemovent was founded in 2013 as a medical device company specializing in innovative extracorporeal life support systems. Hemovent's main product includes the MOBYBOX, which has obtained CE certification and is the first extracorporeal membrane oxygenation (ECMO) system to integrate blood circulation and gas exchange into a single unit.

The Group is committed to providing comprehensive solutions for cardiac surgery and critical care to patients worldwide. This acquisition will leverage the combined strengths of both parties in industry resources, expertise, and product R&D, accelerating the development, manufacturing, and commercialization of relevant products, and advancing the Group’s growth in the field of integrated solutions for acute and critical care.