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 …