MicroPort

For the defunct software company, see Microport Systems.

MicroPort Inc.

Company type	Public
Traded as	SEHK:  853
Industry	Medical Devices
Founded	1998
Headquarters	Shanghai, China
Key people	Zhaohua Chang, CEO Martin Sun, CFO Qiyi Luo, CTO
Revenue	US$793.493Million (2019 Annual) [1]
Operating income	US$564.425 Million (2019 Annual) [1]
Net income	US$29.009 Million (2019 Annual) [1]
Number of employees	9000 (2022)
Website	www.microport.com

MicroPort is a multinational medical technology developer and manufacturer that is primarily headquartered in Shanghai, China. It mainly designs and produces medical devices for a range of fields including cardiology, interventional radiology, orthopedics, electrophysiology, and surgical management. ^[2] MicroPort is considered one of the global Medtech Big 100 and has been consistently known as the leading spender in research and development by percentage of revenue. ^{[3] [4]}

History

MicroPort was founded in 1998 by Zhaohua Chang, who currently serves as CEO, chairman, and Director. ^[5] The company rose to prominence from the early success of its coronary stent line due its focus on serving the needs of the Chinese device market. ^{[6] [7]} It is now one of the top global manufacturers of cardiac interventional devices. ^[8] Notably, it produces the world's first and only commercially available targeted drug eluting stent system, which uses a significantly reduced amount of drug than traditional drug eluting stents while maintaining effectiveness. ^{[9] [10] [11] [12]} As of early 2018, MicroPort is one of few medical device companies still developing a commercial coronary bioresorbable stent with ongoing clinical trials. ^{[13] [14] [15]}

Beginning in the 2010s, MicroPort has rapidly expanded around the world via international acquisitions to other medical device industries, including orthopedics and cardiac rhythm management. ^{[16] [17]} These acquisitions have been followed up with substantial local investment, including a US$398 Million investment in 2019 to develop pacemakers and defibrillators in France. ^[18]

In 2022, MicroPort established its US headquarters in Irvine, California with facilities that include a manufacturing base and innovation center. ^[19] As of 2022, its principal business is valued at over US$6.5 Billion. ^[20]

Acquisitions

In 2014, MicroPort expanded operations in the United States by acquiring Wright Medical's OrthoRecon business to become the 6th largest international producer of orthopedic devices at the time. ^[21] MicroPort's orthopedic business is based in Arlington, Tennessee and in 2018 has expanded its business into India. ^[22]

In 2018, MicroPort and LivaNova closed the sale of LivaNova's cardiac rhythm management business for $190M. ^[17]

In 2018, MicroPort purchased Lombard Medical, a UK-based endovascular device company, from bankruptcy after it defaulted on loans in early 2018. ^[23]

In 2021, MicroPort purchased Hemovent GmbH, a German-based manufacturer of extracorporeal life support systems. ^[24]

References

1. "MicroPort Annual Report 2019" (PDF). MicroPort.
2. "About Us". MicroPort. Archived from the original on 2019-05-11. Retrieved 2019-01-31.
3. "100 largest medtech companies". Becker's Healthcare. 8 September 2022.
4. "Medtech's top R&D spenders and the projects they launched". Medtech Design and Outsourcing. 28 February 2023.
5. "Zhaohua Chang Ph.D". MicroPort.
6. "Company Overview of Shanghai MicroPort Medical (Group) Co., Ltd". Bloomberg.
7. "Solution seeker: medical device developer provides international standards at lower price for Chinese patients". South China Morning Post. 10 September 2016.
8. "Global Cardiac Catheters Market Share 2018 Microport, Terumo, Cook and Lepu". Publicist Report.
9. Lansky, Alexandra; Wijns, William; Xu, Bo; KelbÊk, Henning; van Royen, Niels; Zheng, Ming; Morel, Marie-angËle; Knaapen, Paul; Slagboom, Ton; Johnson, Thomas W; Vlachojannis, Georgios; Arkenbout, Karin E; Holmvang, Lene; Janssens, Luc; Ochala, Andrez; Brugaletta, Salvatore; Naber, Christoph K; Anderson, Richard; Rittger, Harald; Berti, Sergio; Barbato, Emanuele; Toth, Gabor G; Maillard, Luc; Valina, Christian; Buszman, Pawel; Thiele, Holger; Sch‰chinger, Volker; Baumbach, Andreas (September 29, 2018). "Targeted therapy with a localised abluminal groove, low-dose sirolimus-eluting, biodegradable polymer coronary stent (TARGET All Comers): a multicentre, open-label, randomised non-inferiority trial" . The Lancet. 392 (10153): 1117–1126. doi:10.1016/S0140-6736(18)31649-0. PMID   30190206. S2CID   52169067.
10. Gao, RL (20 May 2013). "A randomised comparison of a novel abluminal groove-filled biodegradable polymer sirolimus-eluting stent with a durable polymer everolimus-eluting stent: clinical and angiographic follow-up of the TARGET I trial". EuroIntervention. 9 (1): 75–83. doi:10.4244/EIJV9I1A12. PMID   23685298. S2CID   7244124.
11. Xu, B; Gao, RL; Zhang, RY; Wang, HC; Li, ZQ; Yang, YJ; Ma, CS; Han, YL; Lansky, AJ; Huo, Y; Li, W; Leon, MB (March 2013). "Efficacy and safety of FIREHAWKÆ abluminal groove filled biodegradable polymer sirolimus-eluting stents for the treatment of long coronary lesions: nine-month angiographic and one-year clinical results from TARGET I trial long cohort". China Medical Journal. 126 (6): 1026–32. doi: 10.3760/cma.j.issn.0366-6999.20123206 . PMID   23506573.
12. "Round Table Expert - Firehawk Stent, proven fast healing from TARGET clinical program". EuroPCR. 14 June 2017.
13. Regazzoli, Damiano; Leone, Pier Pasquale; Colombo, Antonio; Latib, Azeem (9 August 2017). "New generation bioresorbable scaffold technologies: an update on novel devices and clinical results". Journal of Thoracic Disease. 9 (Suppl 9): S979 –S985. doi: 10.21037/jtd.2017.07.104 . PMC   5583081 . PMID   28894604.
14. Wendling, Patrice. "Boston Scientific Halts Bioabsorbable-Scaffold Program". Medscape. WebMD.
15. Fornell, Dave (8 September 2017). "Abbott Will End Sales of Absorb Bioresorbable Stent". Diagnostic and Interventional Cardiology. Scranton Gillette Communications.
16. "Surprising MicroPort Orthopedics". Orthopedics This Week. 20 June 2014.
17. "LivaNova closes $190 CRM sale to MicroPort". Mass Device. 30 April 2018.
18. "French leader promotes foreign investment at Versailles". Washington Post. Archived from the original on 2019-01-24.
19. "Real estate news: Chinese medical device maker plants U.S. HQ in Irvine". Orange County Register. 7 January 2022.
20. Kemp, Audrey (17 January 2022). "MicroPort Adds to Irvine Ops With New Exec Hire". Orange County Business Journal.
21. "MicroPort Scientific establishes MicroPort Orthopedics through the acquisition of Wright Medical's OrthoRecon business". Cision PR Newswire (Press release).
22. "MicroPort forays into orthopaedic implants". The Hans India. 24 February 2018.
23. "Lombard Medical Operations Acquired by MicroPort Scientific Corporation in a Restructuring Transaction". PR Newswire Association (Press release).
24. "ECLS Company Hemovent has been Acquired by MicroPort and Receives Investments in Expansion of German Operations". Business Wire (Press release). 4 October 2021.