MicroPort, a Chinese medical device maker, bought the German company Hemovent for 123 million euros.
Hemovent manufactures extracorporeal life support systems. This technology is used to transport patients and save the field. MicroPort Surgery senior vice president, Zhiguang Cheng, noted that the company’s Department of Surgery is actively expanding its product range in the area of intensive care.
Cheng added that he would obtain a license for Hemovent products in the US and China so Chinese patients can use the innovative product as soon as possible.
According to the ECMO market, demand is growing due to the Covid-19 pandemic, valued at $500 million in 2020. MicroPort hopes to make the most of its technology enhancement capabilities in China.
Christof Lenz, CEO of Hemovent, explained that the Chinese company could make great use of the efforts of the Hemovent team and its deep resources. With industry experience and global achievements, the desired results will be achieved. Lenz predicts significant business growth and its international distribution at the Aachen headquarters of the German company. The German Federal Ministry has already approved the deal of Energy and Economy.
According to Seung-Kyun Yue, Vice President of Surgery at MicroPort, Hemovent’s technology, and products will benefit MicroPort’s current portfolio of critical care solutions. The production centers in Italy, France, and Germany are a long-term strategic chart of MicroPort to analyze the European market deeply.
MicroPort was founded in 1998. The corporation’s products are directly related to patients’ lives, and even the slightest flaw can significantly impact. Because of this, the company is actively working on testing every detail of medical technology to prolong patients’ lives and change them for the better. The company aims to adhere to core values that are vital to patients. These principles are crucial to building relationships with customers and partners. And this is seen in every detail and decision that the company is working on.
The company is uncompromising in terms of quality. MicroPort is focused on continuous work and improvement, creating and developing the highest standard.
The key to success for them is the behavior and reputation of the company. Accordingly, the corporation adheres to the standards of business ethics, the highest morality. MicroPort takes care of customers and employees with maximum respect and sincerity.
As for the agreement, the company’s latest decision hopes to bring both parties even more opportunity and success.