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MicroPort-Sorin $20 Million Medical Device JV Approved

May. 28, 2014

On May 28, 2014, Chinese MicroPort Scientific Corporation and Italy’s Sorin Group announced the official establishment of a joint venture company.
 
The Shanghai-based joint venture company, named MicroPort Sorin CRM, is scheduled to commence operations in June. 

MicroPort holds a 51% stake of the new firm, while the Sorin Group holds the remaining 49 percent. The joint venture was approved by the Shanghai Municipal Commission of Commerce (COFCOM) on May 6.
The joint venture will allow MicroPort and Sorin to collaborate on the import, sale and service of Sorin’s CRM devices in Greater China and accelerate the R&D and manufacturing of the local CRM products for the Chinese market.