Shanghai MicroPort Endovascular MedTech Co., Ltd (SHA: 688016), a leading Chinese medical technology company, has declared its intention for its wholly-owned subsidiary, MicroPort Endovastec B.V., to acquire a controlling 72.37% stake in Optimum Medical Device Inc. (OMD) for a transaction valued at USD 65 million. Following the completion of this deal, OMD will transition to become a wholly-owned subsidiary of MicroPort Endovascular.
The Shanghai-based MicroPort Endovastec had previously established a partnership with OMD in 2017, which subsequently led to the acquisition of a 27.7% stake in the company in 2022.
OMD, registered in the British Virgin Islands, is the parent company of UK-based Lombard Medical and its German sales subsidiary, Lombard Medical Technologies GmbH. Both subsidiaries are engaged in the research, development, manufacturing, and marketing of aortic endovascular stent products, including their flagship products, the Aorfix abdominal aortic stent system and the Altura abdominal aortic stent system. With quality management systems that meet European, U.S., and Japanese standards, OMD has a global business presence spanning 23 countries. In 2023, OMD reported a year-on-year revenue increase of 43.55%, amounting to RMB 112 million, with a significant reduction in losses and the prospect of turning profitable in the current year.- Flcube.com
