HONG KONG—MicroPort Medical Science and Technology Co., Ltd (HKG: 0853), a leading medical device company, has released its financial report for the first half of 2024, showing a revenue increase of 17.0% year-on-year to $559 million, excluding the impact of currency exchange rates. The company’s loss for the period was $107 million, a significant reduction of 51.5% compared to the same period last year.
The growth in MicroPort’s financial performance was primarily attributed to the increased revenue from its independently listed subsidiaries. HeartMed (specializing in aortic and peripheral vascular intervention) reported a 26% year-on-year increase in revenue, while MicroPort NeuroTech (focused on neuro-intervention) saw a 37% increase. Structural heart disease business, HeartFlow Medical, experienced a 27% rise, and MicroPort Robotics (engaged in surgical robotics) recorded a staggering 117% growth in revenue.
In addition to these subsidiaries, other core businesses also contributed to steady growth. The cardiovascular intervention business segment reported a 13% increase in revenue year-on-year, with a remarkable 56% growth in overseas market revenue. The orthopedic medical device business grew by 9% year-on-year, with a 33% increase in China market revenue. The cardiac rhythm management business segment saw a 6% increase, with a 62% year-on-year growth in China market revenue.
MicroPort Medical’s global channel strategy has proven effective, with overseas business revenue for the first half of the year rising by 44.0% compared to the same period last year. This growth underscores the company’s commitment to expanding its international footprint and leveraging its diverse product portfolio to meet the needs of global healthcare markets. – Flcube.com
