MicroPort CardioFlow Receives Consolidation Offer From Controlling Shareholder

MT Newswires Live

Jul 17

MicroPort Scientific (HKG:0853) said it was considering consolidating its cardiac rhythm management business with MicroPort CardioFlow Medtech (HKG:2160), according to a Hong Kong bourse filing Wednesday.

Shares of MicroPort CardioFlow gained 9% in morning trade Thursday, while MicroPort Scientific rose nearly 5%.

Under the proposal, MicroPort's CRM business under its 50.13%-owned MicroPort Cardiac Rhythm Management subsidiary will be combined with MicroPort CardioFlow, which oversee's the group's structural heart disease business.

MicroPort Scientific cautioned that the proposal was non-binding and subject to a number of conditions.

Meanwhile, MicroPort CardioFlow said it was evaluating the proposal and would inform the market with relevant updates.

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