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Press release content from Business Wire. The AP news staff was not involved in its creation.

ECLS Company Hemovent has been Acquired by MicroPort and Receives Investments in Expansion of German Operations

October 4, 2021 GMT

AACHEN, Germany & SHANGHAI--(BUSINESS WIRE)--Oct 4, 2021--

MicroPort Scientific Corporation (hereinafter referred to as “MicroPort®”) announced on October 4 th, 2021, through its critical care subsidiary, MicroPort Surgical B.V. (“MicroPort® Surgery”), has acquired 100% of the equity held by existing shareholders of Hemovent GmbH (hereinafter referred to as “Hemovent”) for a total cash consideration of up to €123 million. Upon completion of the acquisition, Hemovent will become a wholly owned subsidiary of MicroPort®.

Hemovent, established in 2013 in Aachen, Germany, is a medical device company specializing in the development of ground-breaking Extracorporeal Life Support (ECLS) systems. Hemovent’s flagship product, the MOBYBOX® system, is the first fully integrated ECLS system to manage both perfusion and gas exchange in a single device, and has set a new standard for ECMO devices in terms of mobility and ease of use.

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MicroPort® has established its foothold in the critical care sector with its subsidiary MicroPort® Surgery, which is committed to providing patients with comprehensive medical solutions for cardiac surgery, emergency and critical care. The Hemovent acquisition will further MicroPort®’s strategy in emergency and critical care, through the combination of Cardiopulmonary Bypass (CPB) with the R&D, manufacturing and commercialization of ECMO products.

Mr. Zhiguang Cheng, Senior Vice President of MicroPort® Surgery, said, “Relying on years of expertise accumulated in cardiac systemic circulation, MicroPort® Surgery has been actively expanding its product portfolio into the intensive care field. The light, portable and easy to operate features of MOBYBOX® enable us to expand the application of this innovative ECMO technology to better meet the medical needs in the post-pandemic era. After the completion of the acquisition, MicroPort® Surgery will pursue device internationalization through a US FDA filing and the clinical registration of MOBYBOX® in China.”

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Mr. Christof Lenz, CEO of Hemovent, added, “We are extremely happy with our new partner MicroPort® who can leverage Hemovent’s team efforts with its profound resources, industry expertise and global reach in order to raise our unique technology to the next level. We are looking forward to a significant scale up of business activities in our current Aachen facility, as well as growing our international operations and distribution chains. We trust in our MOBYBOX® system to be an eventual game changer for the application of ECLS, as it offers unrivalled mobility and ease of use in this area of critical care.”

To date Hemovent has been backed by a consortium of institutional investors led by MIG Capital.

William Blair acted as exclusive financial advisor, and LUTZ | ABEL acted as exclusive legal advisor to Hemovent’s shareholders. TRENZ Attorneys acted as exclusive legal advisor to Hemovent. Freshfields Bruckhaus Deringer acted as exclusive legal advisor to Microport®.

The transaction has received all the necessary and customary regulatory approvals. Completion of the transaction is expected in Q4/2021.

CAUTION: The Hemovent MOBYBOX System is not approved for distribution or sale outside of the EU.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211004005757/en/

Christof Lenz, Hemovent GmbH, +49-241-990-133-0,info@hemovent.com

KEYWORD: GERMANY CHINA EUROPE ASIA PACIFIC

INDUSTRY KEYWORD: PROFESSIONAL SERVICES MEDICAL DEVICES HEALTH SURGERY FINANCE CARDIOLOGY

SOURCE: Hemovent

Copyright Business Wire 2021.

PUB: 10/04/2021 12:12 PM/DISC: 10/04/2021 12:12 PM

http://www.businesswire.com/news/home/20211004005757/en