Shanghai, China, August 6, 2020 – Shanghai MicroPort® EP MedTech Co., Ltd. (“MicroPort® EP”) announced that it has officially entered into a 300 million RMB (US$43 million) funding agreement with four renowned strategic investors, including CPE ("CITIC Private Equity"), Grand Flight Investment, E Fund Management and Shanghai Pudong Kechuang Group. Upon completion of the investment, the valuation of MicroPort® EP will reach 4.8 billion RMB.
Founded in 2010, MicroPort® EP is committed to the development, manufacturing, and commercialization of medical devices and equipment related to cardiac electrophysiological interventional therapy for use in cardiac radiofrequency ablation procedure for arrhythmia patients. Its offering ranges from cardiac ablation catheters, diagnostic catheters, 3D navigation systems, cardiac RF generator, irrigation pumps, among others. The company has been awarded with more than 100 patents globally, and is leading more than 20 scientific research projects within China. In addition, MicroPort® EP has received several awards in recognition of its high-tech research, patent registration and advanced capabilities within the electrophysiology specialty nationally.
After years of dedicated development, MicroPort® EP has established a complete platform for electrophysiological technologieswith registration certificates for 16 of its devices from the National Medical Products Administration of China (NMPA) and the CE mark for 14 of its devices, with four devices having been granted entries into the Special Review Procedure for Innovative Medical Devices of NMPA. Nationally, MicroPort® EP has achieved several China's first within the electrophysiology specialty, including: Columbus®- the first 3D EP navigation system featuring real time magnetic device tracking with cardiac motion compensation, FireMagic®- the first 3D Irrigated Ablation Catheter, EasyFinder® - the first 3D Steerable Deflectable Mapping Catheter, and EasyLoop® - the first Circular Mapping Catheter. MicroPort® EP's product portfolio aims to provide doctors and patients with systematic integrated solution to electrophysiological interventional procedures, which has allowed the company to make high precision electrophysiology product more accessible for patients across the globe. Currently, MicroPort® EP's products are used in more than 500 electrophysiology centers within China, and have entered many markets within Europe, Americas and Southeast Asia.
Dr. Yiyong Sun, MicroPort® EP President, commented,“This round of funding will bring in essential financial support for the company's development of new products and market expansion to help our business enter a new stage of rapid development. As the only Chinese company able to provide integrated electrophysiological solutions that combine active with inactive and devices with equipment, MicroPort® EP will continue to adhere to the rationale featuring unrelenting exploration, innovation and pursuit of excellent quality. MicroPort® EP will create high-quality and accessible therapeutic solutions for patients and doctors. In addition, MicroPort® hopes to be able to drive the rapid development of the electrophysiological sector in China, when the company helps increase the effective treatment rates of arrhythmia patients and reduce the burden on the national health insurance program.”
Arrhythmia is the main cause of sudden cardiac death. According to data from Investigation Report on the Epidemiology of Arrhythmia, the arrhythmia patients amount to more than 10 million in China. In the future, more than 1.5 million Chinese patients are expected to require the treatment with cardiac radiofrequency ablation procedure annually. However, only 170,000 cardiac radiofrequency ablation cases were performed in China in 2019, according to the Registry Data for Arrhythmia Interventional Treatments in Mainland China (2019). As a result, the clinical demand of an overwhelming majority of these patients were not met.