Shanghai-based medical device giant MicroPort Scientific Corp. (HKG: 0853) has announced its intention to spin off its France-based subsidiary, MicroPort Cardiac Rhythm Management Limited (MicroPort CRM), to pursue an initial public offering (IPO) on the Hong Kong Stock Exchange. This move has been confirmed by the bourse, and MicroPort expects to retain control of the firm post-IPO, holding a 50.13% stake.
Focus of MicroPort CRM in Cardiac Rhythm Management
MicroPort CRM specializes in the research and development, manufacturing, and sales of active implantable medical devices for cardiac rhythm management. The company has established a significant business presence, covering 49 countries worldwide, which underscores its global reach and commitment to improving cardiac health.
MicroPort’s Broader Market Strategy
MicroPort Scientific has previously listed several subsidiaries, including Shanghai MicroPort Endovascular Medtech Co., Ltd., MicroPort CardioFlow Medtech Corporation, Shanghai MicroPort MedBot (Group) Co., Ltd., Shanghai MicroPort EP MedTech Co., Ltd., and MicroPort NeuroTech Limited on various financial markets. The planned IPO for MicroPort CRM is part of a broader strategy to enhance its market presence and capitalize on growth opportunities in the medical device sector.-Fineline Info & Tech
