MicroPort CardioFlow announces $680m acquisition of cardiac rhythm management firm

MicroPort CardioFlow Medtech Corporation announced a substantial acquisition and connected transaction on September 29, 2025. The company will acquire Target Company, an entity focused on cardiac rhythm management (CRM) solutions, by way of a merger. The negotiated value of Target Company is US$680 million, with consideration for the acquisition being the allotment and issue of 3,953,847,407 new shares at an issue price of HK$1.35 per share. These new shares represent approximately 164% of the company’s issued share capital as of the announcement date.

The acquisition is expected to create complementary synergies, expanding MicroPort CardioFlow's product platform to include pacemakers, defibrillators, and cardiac resynchronization therapy devices. Target Group reported unaudited consolidated net losses of US$105,138 thousand in 2024 and US$115,331 thousand in 2023. As of June 30, 2025, Target Group had unaudited total assets of US$369 million and a net liability of US$365 million.

The transaction is subject to shareholder approval and various conditions, including regulatory approvals. MicroPort®, the controlling shareholder of the company, holds approximately 50.13% of Target Company, making this a connected transaction requiring independent shareholders' approval.