Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Capital Markets

Microport Cardioflow Medtech / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/microport-cardioflow-medtech-corporation" target="_blank" data-smartkarma-citation="entities:31084:1" rel="noopener">MicroPort CardioFlow (1844972D HK)</a> has filed a PHIP in conjunction with its planned listing on the HKEX. This Insight discusses the incremental disclosures; developments in the TAVR market; and the nascent TMV opportunity. We tag this Insight as Bullish pending announcement of the offering's terms.

MicroPort CardioFlow (1844972D HK) has filed a PHIP in conjunction with its planned listing on the HKEX. This Insight discusses the incremental disclosures; developments in the TAVR market; and the nascent TMV opportunity. We tag this Insight as Bullish pending announcement of the offering's terms. 

MicroPort CardioFlow: PHIP Updates and More on TMV

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<a href="https://www.smartkarma.com/entities/microport-cardioflow-medtech-corporation" target="_blank" data-smartkarma-citation="entities:31084:1" rel="noopener">MicroPort CardioFlow (1844972D HK)</a> is a leading transcatheter heart valve medical device company in China. It started as an incubation project within <a href="https://www.smartkarma.com/entities/microport-scientific-corp" target="_blank" data-smartkarma-citation="entities:4487:1" rel="noopener">Microport Scientific (853 HK)</a>, the controlling shareholder. MicroPort is pre-marketing for a Hong Kong IPO to raise $300 million, according to press reports. MicroPort was last valued at a post-money valuation of $1.2 billion in April 2020 (Series D).   <div class="content-highlight">MicroPort is at an early stage of development as VitaFlow, its first TAVR (transcatheter aortic heart valve replacement) product, was commercialised only in August 2019. Investor sentiment on the sector is strong with <a href="https://www.smartkarma.com/entities/venus-medtech-hangzhou-inc" target="_blank" data-smartkarma-citation="entities:28257:1" rel="noopener">Venus MedTech (2500 HK)</a> and <a href="https://www.smartkarma.com/entities/peijia-medical" target="_blank" data-smartkarma-citation="entities:28862:1" rel="noopener">Peijia Medical (9996 HK)</a> trading 2.2 and 1.8 times their respective IPO prices. With a large addressable market opportunity and VitaFlow’s potentially best-in-class clinical data, we believe that MicroPort is an another attractive play on this market.</div>

MicroPort CardioFlow (1844972D HK) is a leading transcatheter heart valve medical device company in China. It started as an incubation project within Microport Scientific (853 HK), the controlling shareholder. MicroPort is pre-marketing for a Hong Kong IPO to raise $300 million, according to press reports. MicroPort was last valued at a post-money valuation of $1.2 billion in April 2020 (Series D).   MicroPort is at an early stage of development as VitaFlow, its first TAVR (transcatheter aortic heart valve replacement) product, was commercialised only in August 2019. Investor sentiment on the sector is strong with Venus MedTech (2500 HK) and Peijia Medical (9996 HK) trading 2.2 and 1.8 times their respective IPO prices. With a large addressable market opportunity and VitaFlow’s potentially best-in-class clinical data, we believe that MicroPort is an another attractive play on this market.

MicroPort CardioFlow IPO Initiation: To Save a Life

MicroPort Cardioflow Medtech Corporation, a 67%-owned subsidiary of MicroPort Scientific, is a leading medical device company in China. The company’s primary product is VitaFlow, a transcatheter aortic valve implantation (“TAVI” or “TAVR”) device, used to treat Aortic stenosis. TAVR is an emerging medical procedure in China with a handful of competitors at the moment.  The company has filed an Application Proof to list on the HKEX.This Insight will discuss the company’s products, market opportunity, IP, etc. We will provide more details closer to the offering in a future Insight.

MicroPort Cardioflow Medtech Corporation, a 67%-owned subsidiary of MicroPort Scientific, is a leading medical device company in China. The company’s primary product is VitaFlow, a transcatheter aortic valve implantation (“TAVI” or “TAVR”) device, used to treat Aortic stenosis. TAVR is an emerging medical procedure in China with a handful of competitors at the moment.  The company has filed an Application Proof to list on the HKEX.This Insight will discuss the company’s products, market opportunity, IP, etc. We will provide more details closer to the offering in a future Insight.

Equity Bottom-Up

Alibaba Health Information Tec / Equity Bottom-Up

This Insight summarizes the takeaways from a recent China healthcare industry conference focused on biopharmaceuticals and medical devices, and builds on our Originals Insight <a href="https://www.smartkarma.com/insights/asian-healthcare-coming-of-age" target="_blank" data-smartkarma-citation="insights:45676" rel="noopener">Asian Healthcare - Coming of Age</a>.  Topics addressed include value-based purchasing for drugs and devices; development of commercial health insurance; internet hospitals and online pharmacies; DRGs for hospitals; issues for medical device companies; and amendments to China's patent laws.

This Insight summarizes the takeaways from a recent China healthcare industry conference focused on biopharmaceuticals and medical devices, and builds on our Originals Insight Asian Healthcare - Coming of Age.  Topics addressed include value-based purchasing for drugs and devices; development of commercial health insurance; internet hospitals and online pharmacies; DRGs for hospitals; issues for medical device companies; and amendments to China's patent laws.

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

On November 6th, <a href="https://www.smartkarma.com/entities/microport-cardioflow-medtech-corporation" target="_blank" data-smartkarma-citation="entities:31084:1" rel="noopener">MicroPort CardioFlow (1844972D HK)</a> applied to the Hong Kong Stock Exchange for listing on the main board. Different from the previous innovative pharmaceutical companies, MicroPort CardioFlow belongs to the innovative medical device industry, mainly involved in the field of valvular heart diseases. Compared with <a href="https://www.smartkarma.com/entities/venus-medtech-hangzhou-inc" target="_blank" data-smartkarma-citation="entities:28257:1" rel="noopener">Venus MedTech (2500 HK)</a>, Suzhou Jiecheng Medical Technology and <a href="https://www.smartkarma.com/entities/peijia-medical" target="_blank" data-smartkarma-citation="entities:28862:1" rel="noopener">Peijia Medical (9996 HK)</a>, is MicroPort CardioFlow a better candidate of the TAVR market in China?

On November 6th, MicroPort CardioFlow (1844972D HK) applied to the Hong Kong Stock Exchange for listing on the main board. Different from the previous innovative pharmaceutical companies, MicroPort CardioFlow belongs to the innovative medical device industry, mainly involved in the field of valvular heart diseases. Compared with Venus MedTech (2500 HK), Suzhou Jiecheng Medical Technology and Peijia Medical (9996 HK), is MicroPort CardioFlow a better candidate of the TAVR market in China?

Pre-IPO MicroPort CardioFlow - A Better Candidate of the TAVR Market in China?

United States

Edwards Lifesciences Corporation designs, develops, manufactures, and markets products and services to treat late-stage cardiovascular disease.  The Company's products include tissue replacement heart valves, heart valve repair products, hemodynamic monitoring devices, angioscopy equipment, oxygenators, and pharmaceuticals.  Edwards supplies its products to customers located worldwide.

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Edwards Lifesciences (EW US)

MicroPort CardioFlow: PHIP Updates and More on TMV

MicroPort CardioFlow plans an HKEX listing. This Insight discusses updated disclosures in its PHIP filing; developments in the TAVR market; the...

Kemp Dolliver, CFA

MicroPort CardioFlow IPO Initiation: To Save a Life

MicroPort is pre-marketing for an HK IPO to raise $300 million. With a large addressable market opportunity and VitaFlow’s potentially best-in...

Arun George

Microport Cardioflow: Winning in TAVR

We provide our initial thoughts on the proposed listing of medical device (TAVR) company MicroPort Cardioflow on the HKEX.

Kemp Dolliver, CFA

China Healthcare: Macro Themes

This Insight summarizes the takeaways from a recent China healthcare industry conference. There is much talk of pressures on the industry, but...

Kemp Dolliver, CFA

Pre-IPO MicroPort CardioFlow - A Better Candidate of the TAVR Market in China?

This article analyzed the market potential of TAVR in China, competition pattern of key players, financial position of MicroPort CardioFlow and...

Xinyao (Criss) Wang

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