China-based Shanghai MicroPort Endovascular MedTech Co., Ltd (SHA: 688016) plans to raise up to RMB 2.55 billion (USD 378 million) via a private placement. The proceeds will be used to fund several strategic initiatives, including the development of its global headquarters and innovation and industrialization plan projects, research into peripheral vascular intervention and tumor intervention devices, and additional working capital.
Use of Proceeds
The funding will support MicroPort Endovascular’s ambitious plans to expand its global presence and enhance its capabilities in research and development. This includes the establishment of a global headquarters, which will serve as a hub for innovation and industrialization projects. Additionally, the company will invest in the development of peripheral vascular intervention and tumor intervention devices, further solidifying its position in the medical device sector.
Company Background and Achievements
MicroPort Endovascular is renowned for its core design and key manufacturing technology of the aortic disease-covered stent system. The company has secured marketing approvals for 13 products, highlighting its commitment to delivering high-quality medical solutions. This private placement is expected to accelerate its global expansion and drive innovation in the field of endovascular medical technology.-Fineline Info & Tech
