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MicroPort

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For the defunct software company, see Microport Systems.
MicroPort Inc.
Company typePublic
SEHK: 853
IndustryMedical Devices
Founded1998
HeadquartersShanghai, China
Key people
Zhaohua Chang, CEO
Martin Sun, CFO
Qiyi Luo, CTO
RevenueIncrease US$793.493Million (2019 Annual)[1]
Increase US$564.425 Million (2019 Annual)[1]
Increase US$29.009 Million (2019 Annual)[1]
Number of employees
9000 (2022)
Websitewww.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

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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

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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

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  1. ^ a b c "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. ^ a b "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.
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