Zi Zhenjun of Venus Medtech: Cultural and Value Alignment Is Key to Successful International M&A
8Month22Day, inThe 10th Global Investment and M&A SummitAbove,Venus Medtech Co-founder and General Manager Zhenjun Zi InvitedTitled《In the New Ecosystem,Exploring Strategies for International Mergers and Acquisitions in the Medical Device Industry》Keynote Address, resonating strongly with the attendees and sparkingOn-SiteLively Discussion.
Citing Venus Medtech’s acquisition of the Israeli innovative medical device company Cardiovalve as an example, Zi Zhenjun elaborated on new approaches to cross-border M&A in the medical device industry. This transaction earned Venus Medtech the “Top Ten Cross-Border M&A Golden Whistle Award.” In his speech, he stated that against the backdrop of China’s economy transitioning toward high-quality development, the global expansion of Chinese medical device companies is ushering in new opportunities.
By highlighting the serendipitous connection between Venus MedTech and its acquisition target, Cardiovalve, Zi Zhenjun prioritized post-merger integration, emphasizing that successful mergers and acquisitions must directly address deep-seated issues such as differences in business philosophy and cultural conflicts. “In cross-border M&A, the integration of teams from both sides and mutual recognition of values are crucial,” Zi Zhenjun pointed out at the conference. “The Israeli Cardiovalve team acquired by Venus MedTech has deep ties with China, and it is this high degree of cultural integration and mutual recognition that laid the foundation for this collaboration.”
In 2022, Venus Medtech completed the acquisition of 100% equity interest in Cardiovalve Ltd., an Israeli innovator in transcatheter mitral and tricuspid valve therapies. Since then, Cardiovalve has officially become part of Venus Medtech’s global operational team. The company is the first to receive U.S. FDA approval to conduct early feasibility studies for both mitral regurgitation and tricuspid regurgitation indications. Through this acquisition, Venus Medtech has established itself as one of the most comprehensive platform companies in the field of heart valve therapy, both in China and globally.
“Venus Medtech is at the forefront of the international first tier, targeting the world’s core stage. Our multiple globally innovative products have already been launched in major global markets or are in the phase of international multi-center clinical trials.” Currently, the company’s full range of Chinese “intelligent” manufactured valve products has entered more than 30 countries and regions around the world, with a presence spanning Asia, Europe, South America, and North America. Zhenjun Zi stated that for Chinese medical devices to truly go global, having technologies and products that are “unavailable in China but new to the world” is far from sufficient. A comprehensive global patent system, production and quality control standards aligned with international mainstream practices, and a series of international operational management systems are crucial.
He also emphasized the strategic role played by international localization strategies in the path toward globalization. Venus Medtech’s comprehensive overseas innovation ecosystem and partner network, along with its localized marketing talent structure, provide strong support for its steady and long-term progress on the international stage. “We believe that through overseas mergers and acquisitions and constructive collaborations, Venus Medtech can continue to deepen its presence in international markets,” said Zhenjun Zi.
“Chinese medical devices are bound to secure their place on the global stage in the future.” Discussing the internationalization trend of China’s medical device industry, Zi Zhenjun stated. “The next three years will mark a new phase for Venus Medtech’s comprehensive global expansion. Our full range of four-in-one valve solutions will be launched in mainstream markets such as Europe and the United States, ushering in a new era for the overseas expansion of high-end Chinese medical devices.” Speaking of the company’s long-term vision for its global layout, Zi Zhenjun expressed great confidence.
The Global Investment and M&A Summit brings together hundreds of listed companies in emerging industries, globally renowned investment institutions, professional intermediary service providers, and leaders from relevant government departments to jointly explore the global development path for investments in China’s emerging industries. It is one of the most authoritative events in China’s M&A sector.
