Sidley advised MicroPort Cardiac Rhythm Management Limited (MicroPort CRM), a subsidiary of MicroPort Scientific Corporation (HKEX: 853, MicroPort), in its proposed US$680 million merger with MicroPort CardioFlow Medtech Corporation (HKEX: 2160, MicroPort CardioFlow), constituting a very substantial acquisition of MicroPort CardioFlow under the Hong Kong Listing Rules. This landmark transaction represents one of the largest acquisitions announced by a company listed under Chapter 18A of the Hong Kong Listing Rules and sets a precedent in the biotech and medtech industries. The transaction is subject to closing conditions.
The acquisition will help MicroPort CardioFlow, a medical device company focusing on the R&D and commercialization of innovative transcatheter and surgical solutions for structural heart diseases, build a heart-disease product platform offering diversified products and product pipelines globally. MicroPort CRM is principally engaged in the cardiac rhythm management business focusing on solutions for the management of cardiac rhythm disorders.
The Sidley team was led by partner Christopher Cheng with the support of Selina Wong.
Sidley’s China Life Sciences practice is an integrated part of the firm’s Global Life Sciences practice, which has more than 400 dedicated lawyers worldwide. It is the only Band One firm ranked by Chambers Greater China Region/APAC in life sciences for 16 consecutive years. Sidley advises clients along the full business lifecycle, from company formation, corporate governance (including incentive plans), and compliance operations for the startup phase to product collaboration, licensing, commercialization, and regulatory filing matters in the business development phase to initial public offerings, refinancings, and debt issuances in the capital-raising phase to further significant transactions including domestic and cross-border mergers and acquisitions, asset restructurings, and privatizations as well as dispute resolution.
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