MicroPort CardioFlow Medtech to Buy Industrial Site from MicroPort Medical

MT Newswires Live08-23

MicroPort CardioFlow Medtech (HKG:2160) unit Shanghai MicroPort CardioFlow Medtech agreed to buy Shanghai Xinyong Medical Technology from Shanghai MicroPort Medical (Group).

The target company was formed in June to hold the land use rights of an industrial site in Shanghai, according to a Thursday filing with the Hong Kong Exchange.

The property is a parcel of land for high-tech use with an area of 13,320 square meters, located at Zhangjiang Science City, Pudong New Area, Shanghai.

The deal's consideration will not exceed 380 million yuan. As of May 31, the property is valued at 360 million yuan.

After the purchase, the medical device maker will use the property for production and office operations for its LAA medical device business as it grows and caters to global expansion.

Shanghai MicroPort Medical is a unit of MicroPort Scientific (HKG:0853).

Price (HKD): $0.61, Change: $-0.030, Percent Change: -4.69%

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