MicroPort Scientific (0853.HK) Surges 9% as Subsidiary MicroPort CRM Secures $150M Series C Funding

Gelonghui, July 28 | MicroPort Medical (0853.HK) surged during trading, rising as much as 9% to HK$56.5, with a market capitalization of HK$102.3 billion. The company announced that its subsidiary, MicroPort Cardiac Rhythm Management Ltd., which focuses on the R&D and sales of implantable pacemakers and defibrillator devices as well as technologies related to cardiac arrhythmia management, secured $150 million in Series C financing, reaching a post-money valuation of $1.25 billion. GL Ventures and MicroPort co-led this Series C investment, contributing $20 million and $47 million, respectively. Six new investors, including CICC Capital Operation Co., Ltd., Country Garden Venture Capital, E Fund Capital, YONGRONG ASSET, L Squared Private Management, and Wanhui Capital, invested a total of $83 million.