Shanghai, China – On May 13, 2020, MicroPort Scientific Corporation (“MicroPort®”) announced that Suzhou MicroPort Orthopedic Scientific (Group) Co. Ltd. (“MicroPort® Orthopedics Group”), which is an orthopedics business-focused subsidiary of MicroPort®, has entered into funding agreements with several prominent strategic investors to raise 580 million yuan as planned previously. The investors include China Life Healthcare Investment Fund, E Fund Asset Management, Yuemintou Asset Management and CQY Capital.
With its inception dating back to 2009, MicroPort® Orthopedics Group has achieved the global operation of the orthopedics business and grown to be (one of) the biggest orthopedics companies in China by undertaking more than a decade of independent R&D and highly efficient integration of global resources and markets. MicroPort® Orthopedics Group has a registered capital of about 2.2 billion yuan, with its products marketed in more than 60 countries and regions and offices located in a number of major cities across the world. In 2019, MicroPort® Orthopedics Group recorded revenues of about 1.6 billion yuan. MicroPort® Orthopedics Group’s R&D, manufacturing and global logistics facilities in Memphis of the United States boast an army of specialized management and technical talents, as well as advanced production and testing equipment. In the past three years, the Memphis campus has developed more than ten new joint devices to help patients achieve faster full-function recovery. The industry park for the innovation in orthopedics, which MicroPort® Orthopedics Group has built in Suzhou of China to integrate the functions of R&D, manufacturing, logistics and scientific affairs, can meet the Chinese market’s demands for orthopedic implants and instruments in the upcoming years; Several knee and hip devices have been approved and launched in China, which has further elevated the comprehensive competitiveness of MicroPort® Orthopedics Group’s business in China.
MicroPort® Orthopedics Group capitalizes on its core advantages of innovative designs and industry-leading manufacturing capability to provide global patients with multiple high-quality and accessible integrated orthopedic solutions: Thus far, its joint devices have benefitted an aggregated number of about 1.4 million patients worldwide. Requiring a small incision to perform total hip arthroplasty, its unique SuperPATH® minimally invasive procedure can shorten time of operation, decrease intra-operative loss of blood and improve post-operative stability. Its original design rationale of “Medial-Pivot Knee” can not only provide a wider range of joint motion and more reliable wear resistance, but also restore the kinematics of normal knees and maintain their stability in motion to render the post-operative kinematic features and patients’ gaits more natural and agile. MicroPort® Orthopedics Group’s spine & trauma business boasts Injectable Artificial Bone Fuse System, Percutaneous Vertebroplasty System and Spinal Multifunctional Fixation System for all diseases at posterior thoracic and lumbar vertebrae, as well as conventional clinical products, to achieve safer procedures and faster post-operative recovery. As an emerging business segment, the sports medicine business is conducting the R&D of implants, surgical instruments and innovative technologies for the repair of soft tissues around the shoulder and knee. In addition, MicroPort® Orthopedics Group has announced strategic investment in Israel-based MinInvasive to jointly develop and promote the new technologies including new-generation special shoulder cuff reconstruction.
Mr. Benny Hagag, President of MicroPort Orthopedics Group, said, “MicroPort® Orthopedics Group always gives the top priority to patients’ quality of life. As one of the leaders in the global high-end orthopedic medical device sector, we capitalize on original innovation and excellent quality to promote our business, integrate various kinds of intelligent manufacturing technologies into existing processes, continuously optimize supply chain, and elevate efficiency, so as to achieve the integration of the global operation of MicroPort® Orthopedics Group. We will deploy the funding to further develop our product portfolio of implants and enhance the penetration into existing and new markets. We will continue to be committed to the creation of high-quality and full-dimensional therapeutic solutions to orthopedic diseases, which can help patients achieve fast recovery.”
Ms. Glendy Wang, Chairwoman of MicroPort® Orthopedics Group, said, “MicroPort® Orthopedics Group is a major subsidiary group under MicroPort®. This round of funding will bring in necessary financial support for the company’s new product development and market expansion, and help the orthopedics business of MicroPort® enter a new stage of rapid development. Following the trend of an aging global population closely, MicroPort® Orthopedics Group will join hands with the orthopedic healthcare professionals worldwide in the rapidly developing fields of joint, spine and sports medicine to jointly bring about new therapeutic technologies and product innovation. In addition, MicroPort® Orthopedics Group will extend its efforts to gradually cover the key technologies in the areas of foot and ankle, extremities, regenerative medicines, digital surgery and surgical robotics.”
The capital injection of external investors in MicroPort® Orthopedics Group, along with their active participation in the building of a modern corporate governance structure, has laid a good groundwork for the independent and standardized operation of MicroPort® Orthopedics Group. It marks a promising beginning from which MicroPort® Orthopedics Group will take further advantage of a broader capital market to achieve expedited development to provide global patients with accessible therapeutic solutions based on the most advanced medical technologies.