Chinese heart valve maker Venus Medtech said yesterday it inked a definitive investment agreement with DCP Capital to support the upgrading and internationalization of its valve products.
Through the deal, DCP Capital will also support clinical research into a new mitral and tricuspid valve disease treatment technology as the company looks to make a more solid entry into the international heart valve market, Venus Medtech said.
“DCP is delighted to have the opportunity to invest into Venus Medtech. We are extremely impressed with the company’s outstanding management team, strong technological capabilities and deep industry knowledge. We look forward to fully utilizing our network and expertise to help Venus Medtech to grow into the next phase of development,” DCP exec chair David Liu said in a prepared release.
“Venus Medtech is led by a management team with global vision and strong sense of social responsibility and we are honored to partner with such a company to help it grow to a global medical device player,” DCP managing director Wayne Wang said in prepared remarks.
“We are extremely excited to have DCP as our long-term value-added partner. This cooperation will benefit from the DCP team’s 25 years of successful investment experience in Chinaled by Mr. David Liu. In particular, we hope to leverage DCP’s significant investment / acquisition experience, and its portfolio management capabilities to accelerate Venus Medtech’s expansion,” Venus Medtech CEO Eric Zi said in a press release.
Last June, Venus Medtech said it acquired U.S.-based transcatheter aortic valve replacement device developer InterValve for an undisclosed amount.