Shanghai Zhangjiang Science &Technology Investment Corporation and Shanghai Lianmu Enterprise Management Center signed an equity transfer agreement to acquire 12% stake in Shanghai MicroPort Endovascular Medtech Co., Ltd. from MicroPort Endovascular CHINA Corp. Limited for approximately CNY 220 million.
December 03, 2016
Share
Shanghai Zhangjiang Science &Technology Investment Corporation and Shanghai Lianmu Enterprise Management Center signed an equity transfer agreement to acquire 12% stake in MicroPort Endovascular (Shanghai) Co., Ltd. from MicroPort Endovascular CHINA Corp. Limited for approximately CNY 220 million on December 3, 2016. Under the terms of transaction, Zhangjiang Science & Technology Venture Capital Co., Ltd will acquire 2% stake in MicroPort Endovascular (Shanghai) Co., Ltd. for CNY 36.3 million and Shanghai Lianmu Enterprise Management Center will acquire 10% stake in MicroPort Endovascular (Shanghai) Co., Ltd. for approximately CNY 180 million from MicroPort Endovascular CHINA. In a related transaction Shanghai Jiushen Private Equity Limited Partnership entered into a capital increasing agreement in MicroPort Endovascular (Shanghai) Co., Ltd. For the year ending December 31, 2015, MicroPort Endovascular (Shanghai) Co., Ltd. reported a net income of CNY 30.8 million and net assets of CNY 77.3 million. The transaction is subject to the due diligence on MicroPort Endovascular (Shanghai) Co., Ltd. with respect to financial, legal, business and labor areas having been completed; each of MicroPort Endovascular (Shanghai) Co., Ltd. and MicroPort Endovascular CHINA having received all necessary authorization, permits or approvals in relation to the execution and implementation of the agreement and other customary conditions and approval of Board of Shanghai Zhangjiang Science &Technology. The net proceeds from the transaction will be used to optimize the financial structure of the MicroPort Scientific Corporation and as marketing and research and development expenses as well as general working capital of the MicroPort Endovascular (Shanghai) Co., Ltd.
Shanghai MicroPort Endovascular MedTech Group Co Ltd, formerly Shanghai MicroPort Endovascular MedTech Co Ltd, is a China-based company principally engaged in the research and development, production and sales of aortic and peripheral vascular interventional medical devices. The Company's main products include the aortic stent graft system for aortic minimally invasive interventional procedures, the intraoperative stent system for open surgery, as well as the peripheral vascular stent system and peripheral balloon dilatation catheters for the treatment of peripheral vascular diseases. The Company mainly distributes its products to the domestic market.
Shanghai Zhangjiang Science &Technology Investment Corporation and Shanghai Lianmu Enterprise Management Center signed an equity transfer agreement to acquire 12% stake in Shanghai MicroPort Endovascular Medtech Co., Ltd. from MicroPort Endovascular CHINA Corp. Limited for approximately CNY 220 million.
SHANGHAI MICROPORT ENDOVASCULAR MEDTECH CO., LTD. 
