Venus Medtech acquires mitral, tricuspid valve replacement company Cardiovalve

Venus Medtech announced that it acquired Cardiovalve and its transcatheter mitral and tricuspid valve treatment technology.

Hangzhou, China-based Venus Medtech will acquire 100% equity interest and corresponding equity at a consideration of $300 million, with payments of the consideration coming in installments subject to the completion of certain milestones.

According to a news release, Venus aims to use the acquisition of Israel-based Cardiovalve to expand its product layout of mitral valve replacement and tricuspid valve replacement, enhancing its product pipeline and accelerating its internationalization.

Cardiovalve designed its independently developed Cardiovalve System as a transcatheter interventional replacement product for patients suffering from mitral or tricuspid regurgitation. The company said its transfemoral approach improves safety and its 55mm annuli is suitable for 95% of the patient population with a short frame designed to lower the …

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15 heart devices that could boost their manufacturers’ sales

(Image from Cardiovalve)

Before the coronavirus pandemic hit, medtech companies large and small were making notable news with a number of innovative heart devices.

Some of these same companies took a big hit to their bottom lines when the danger of spreading COVID-19 and using up precious personal protective equipment convinced hospitals to limit non-urgent procedures.

Now hospitals are looking at ways to safely return to business-as-usual — they and the medical device industry as a whole hope to improve their balance sheets. For example, Medtronic (NYSE:MDT) CEO Geoff Martha and CFO Karen Parkhill expressed optimism in an analyst call today that their company’s businesses already are showing signs of a rebound in the month of May.

Get the full story on our sister site, Medical Design & Outsourcing.

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