MicroPort CardioFlow Medtech Co., Ltd (HKG: 2160), a spin-off from China-based MicroPort Scientific Corp (HKG: 0853), has announced its financial report for 2023. The company reported a 33.9% year-on-year (YOY) increase in revenue, reaching RMB 336 million (USD 46.5 million), with gross profits surging 41.8% to RMB 223 million (USD 30.8 million). Despite the growth, the company’s losses were recorded at RMB 472 million (USD 65.3 million), slightly higher than the RMB 454 million reported in the previous year.
The revenue and gross profit growth were primarily driven by the rapid adoption of TAVI (Transcatheter Aortic Valve Implantation) products, which saw their implant volume increase by 45% YOY in 2023. International sales of TAVI products grew by 58.9% YOY, with coverage expanding to nearly 100 hospitals in Argentina, Colombia, Thailand, and Russia, where the implant volume experienced a significant 90% YOY increase.
CardioFlow Medtech boasts a robust product portfolio with 6 approved products, including VitaFlow, VitaFlow Liberty, Alwide Plus, AccuSniper, AnchorMan left atrial appendage occlusion system, and AnchorMan left atrial appendage guidance system. The company is also developing a range of products across various stages, such as TAVI, TMV (Transcatheter Mitral Valve), TTV (Transcatheter Tricuspid Valve) products, left atrial appendage products, and surgical supporting products.- Flcube.com
