On July 1st, Gelunhui announced that its wholly-owned subsidiary, MICROPORT ENDOVASTEC B.V. (referred to as 'Dutch heart vein'), intends to use its own funds of $65 million (calculated at the Renminbi exchange rate midpoint announced by the People's Bank of China on July 1, 2024, equivalent to approximately RMB 463.2225 million) to acquire 72.37% of Optimum Medical Device Inc. (referred to as 'OMD'), a joint venture of heart vein previously held by Earl Intellect Limited and Turbo Heart Limited. After the transaction is completed, OMD will become a wholly-owned subsidiary of the company.
In addition to holding the equity of two subsidiary companies, LombardMedicalLimited and LombardMedicalTechnologiesGmbH (collectively referred to as 'Lombard'), OMD did not actually engage in business operations. LombardMedicalLimited is a limited liability company registered in the United Kingdom, mainly engaged in the research and development, production and sales of endovascular stent products for the abdominal aorta, with core products including the AorfixTM abdominal aortic endovascular stent system (referred to as 'Aorfix') and the AlturaTM abdominal aortic endovascular stent system (referred to as 'Altura'); LombardMedicalTechnologiesGmbH is a limited liability company registered in Germany, mainly serving as a sales company for Lombard to develop the German market. Lombard has a quality management system that covers product research and development, production, and sales that meets the requirements of CE certification in the European Union, FDA certification in the United States, and PMDA certification in Japan, and has an experienced and complete organizational structure and team coverage. The target company has a product promotion history of more than 20 years in developed countries such as Europe, America, and Japan. Its products have covered more than 23 countries worldwide.