Shanghai-based medical device conglomerate MicroPort Scientific Corp., (HKG: 0853) has issued a revenue and growth forecast for its subsidiary Shanghai MicroPort Endovascular MedTech Co., Ltd (SHA: 688016), in which it holds a 40.32% stake. MicroPort Endovascular is anticipated to achieve revenues within the range of RMB 1.17-1.2 billion (USD 168-238 million) in 2023, marking a year-on-year (YOY) increase of 31%-34%. The net profit attributable to the parent company is forecasted to be within the range of RMB 475-492 million (USD 66.4-68.8 million), up 33%-38% YOY. Additionally, the net profit attributable to the parent company is expected to be between RMB 431-453 million (USD 60.2-63.5 million), indicating a YOY growth of 33% to 40%.
Throughout 2023, MicroPort Endovascular’s product sales and terminal implantations have seen continued rapid growth. New products such as the Talos straight tube thoracic aortic covered stent system and Fontus branch intraoperative stent system have been installed in over 300 hospitals, with more than 3200 cases of implantation in total. The Reewarm PTX drug balloon dilation catheter (0.035 “series) entered hospitals in the fourth quarter of 2023. The company anticipates a continued increase in the number of new product placements and sales in 2024.
MicroPort Endovascular has also intensified its overseas market promotion efforts, with overseas sales increasing by 50% YOY in 2023. Notably, the Castor branch type aortic stent and delivery system has been clinically applied in 16 countries, the Hercules Low Profile straight tube stent and delivery system in 21 countries, the Minos abdominal aortic stent and delivery system in 19 countries, and the Hercules balloon catheter in 8 countries worldwide.- Flcube.com
