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    2500   CNE100003PJ8

VENUS MEDTECH (HANGZHOU) INC.

(2500)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-06-30 am EDT
17.50 HKD   +6.71%
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Venus Medtech appoints Shakeel Osman as Senior VP of Sales Europe to drive commercialization of TPVR system

03/18/2022 | 06:28am EDT

HANGZHOU, China, March 18, 2022 /CNW/ -- On March 18th, 2022, Venus Medtech (Hangzhou) Inc. ("Venus Medtech", 2500.HK), a leading provider of integrated solutions for structural heart disease in China, announced the appointment of Shakeel Osman as Senior Vice President of Sales Europe, responsible for the commercialization of congenital heart devices. At present, the company's transcatheter pulmonic valve replacement (TPVR) system VenusP-Valve designed for congenital heart disease patients is awaiting CE mark approval.

Prior to joining Venus Medtech, Shakeel Osman served as General Manager UK & Vice President Sales Middle East Asia and Africa at Occlutech Medical Devices, a Germany-based global leading provider of minimally invasive cardiac devices. As a 20-year veteran in the global marketing of medical devices, Shakeel Osman has been heavily engaged in the European and Middle East markets, boasting extensive experience in marketing and distributor management in the cardiovascular field.

Shakeel Osman said, "It is a great honor to join Venus Medtech's commercialization team in Europe. As a leading company in structural heart disease, Venus Medtech possesses internationally competitive innovative pipelines. I'm excited to leverage my experience and work closely with the team to lay a solid foundation for the commercialization of VenusP-Valve across Europe and contribute to the company's global presence."

VenusP-Valve is the only self-expanding TPVR system undergoing CE certification at the present time. It is expected to be Venus Medtech's second innovative medical device marketed in Europe following TriGUARD3™ cerebral embolic protection device. In March 2021, VenusP-Valve received a special use authorization from the UK Medicines and Healthcare products Regulatory Agency (MHRA).

Eric Zi, Founder, Executive Director and General Manager of Venus Medtech, warmly welcomed Shakeel Osman to the company. "We are delighted to have another professional medical device marketing veteran joining Venus Medtech. The expertise and experience of Shakeel will be a tremendous addition to the commercialization of VenusP-Valve in Europe, which is expected to give important weight to the clinical progress of future innovative devices in the market."

Following the launch of TriGUARD3™ in Europe in 2020, Venus Medtech has been committed to enhancing its international commercialization endeavors to lay the foundations for global innovation and facilitate overseas clinical trials for more structural heart products. Furthermore, Venus Medtech appointed David Breant as Vice President of Sales Europe, responsible for the adult structural heart disease business, as well as direct sales in Germany, France and other markets; and Joyce Heo as Director of Sales, responsible for sales in emerging markets.

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SOURCE Venus Medtech (Hangzhou) Inc.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2022 657 M 98,1 M 98,1 M
Net income 2022 -305 M -45,6 M -45,6 M
Net cash 2022 2 508 M 374 M 374 M
P/E ratio 2022 -24,0x
Yield 2022 -
Capitalization 6 542 M 977 M 977 M
EV / Sales 2022 6,14x
EV / Sales 2023 4,23x
Nbr of Employees 905
Free-Float 79,7%
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Number of Analysts 7
Last Close Price 14,94 CNY
Average target price 21,69 CNY
Spread / Average Target 45,2%
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Managers and Directors
Zhen Jun Zi Executive Director & General Manager
Haiyue Ma Chief Financial Officer & Joint Secretary
Min Zeng Chairman
Yan Xiao Chairman-Supervisory Board
Hou-Sen Lim Chief Technology & Operating Officer
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