Sam Brusco, Associate Editor01.27.22
Chinese structural heart disease company Venus Medtech completed its 100 percent equity interest in Israeli transcatheter mitral and tricuspid valve treatment firm Cardiovalve on January 26th. Cardiovalve has become a member of Venus Medtech’s global operation team.
According to the company, Cardiovalve’s transfemoral approach “significantly improves” treatment safety and the Cardiovalve System’s 55mm annuli covers 95 percent of patients. The valve’s shot frame design also reduces LVOT obstruction risk.
According to structural heart leader Edwards Lifesciences, the market value for mitral and tricuspid regurgitation interventional therapy will reach $5 billion by 2028—an increase of five times compared to last year.
The U.S. Food and Drug Administration (FDA) has not yet approved any mitral or tricuspid valve replacement products. However, Cardiovalve was the first privately held company to earn FDA early feasibility study approval for both indications.
Buying Cardiovalve allows Venus Medtech to become a market leader in the Chinese mitral and tricuspid regurgitation treatment markets.
"The successful completion of this cross-border acquisition will have a significant impact on the company's further international development strategy," Venus MedTech's CEO Eric Zi told the press. "And we will take this as an opportunity to further consolidate our long-term vision of making international innovation and global presence. Venus Medtech will continue to advance our overall product pipeline to provide innovative devices and services for global doctors and patients. "
"Partnering with Venus Medtech is crucial for Cardiovalve to accelerate its approach to key global markets," said Amir Gross, CEO of Cardiovalve. "We've built a strong relationship of mutual trust over the past few years and are committed to creating a new ecosystem of cooperation between China and Israel in the medical device innovation industry. Going forward, we will continue to develop innovative and superior R&D products."
According to the company, Cardiovalve’s transfemoral approach “significantly improves” treatment safety and the Cardiovalve System’s 55mm annuli covers 95 percent of patients. The valve’s shot frame design also reduces LVOT obstruction risk.
According to structural heart leader Edwards Lifesciences, the market value for mitral and tricuspid regurgitation interventional therapy will reach $5 billion by 2028—an increase of five times compared to last year.
The U.S. Food and Drug Administration (FDA) has not yet approved any mitral or tricuspid valve replacement products. However, Cardiovalve was the first privately held company to earn FDA early feasibility study approval for both indications.
Buying Cardiovalve allows Venus Medtech to become a market leader in the Chinese mitral and tricuspid regurgitation treatment markets.
"The successful completion of this cross-border acquisition will have a significant impact on the company's further international development strategy," Venus MedTech's CEO Eric Zi told the press. "And we will take this as an opportunity to further consolidate our long-term vision of making international innovation and global presence. Venus Medtech will continue to advance our overall product pipeline to provide innovative devices and services for global doctors and patients. "
"Partnering with Venus Medtech is crucial for Cardiovalve to accelerate its approach to key global markets," said Amir Gross, CEO of Cardiovalve. "We've built a strong relationship of mutual trust over the past few years and are committed to creating a new ecosystem of cooperation between China and Israel in the medical device innovation industry. Going forward, we will continue to develop innovative and superior R&D products."
