MicroPort recently announced that the group's subsidiary, Horizon Medical has signed an agreement with certain investors to increase the company's capital.
According to the agreement, the investors agreed to make a combined capital injection of 130 million yuan into Horizon Medical.
The investors include Shenzhen Capital Group, MicroPort Ventures, and Shanghai Maixiang Corporate Management Consulting Center (Limited Partnership), among others. Upon completion of the capital increase, Horizon Medical will be valued at approximately 43 million yuan.
The capital increase and the introduction of new investors will provide Horizon Medical with working capital for product development, manufacturing and market expansion, and will further diversify MicroPort’s product lines and medical solutions in the field of assisted reproduction.
Horizon Medical is currently 40% owned by MicroPort Ventures. Upon completion of the capital increase, the company will continue to be accounted for as an affiliate of MicroPort.