China-based MicroPort Scientific Corp. (HKG: 0853) has announced that its spin-off, MicroPort CardioFlow Medtech Co., Ltd (HKG: 2160), will acquire a 100% stake in Shanghai Heart Forever Medical Technology Co., Ltd. The acquisition, valued at up to RMB 380 million, will be executed through a transfer from its sister company, Shanghai MicroPort Medical (Group) Co., Ltd.
The assets involved include the state-owned land use rights for a high-tech plot in Zhangjiang Science City, Shanghai, along with three buildings. Notably, Heart Forever has served solely as a vehicle for Shanghai MicroPort to secure these assets, which, upon completion of the deal, will become the global headquarters for CardioFlow Medtech. This acquisition is poised to alleviate the group’s current R&D and production space constraints across several business lines, particularly addressing the manufacturing needs for left atrial appendage medical devices.- Flcube.com
