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On August 26, 2024, Shanghai MicroPort Endovascular MedTech (Group) Co., Ltd. (hereinafter referred to as “Endovastec™”) announced the completion of its acquisition of 72.37% equity in its associate company Optimum Medical Device Inc. (hereinafter referred to as “Optimum Medical”), a European medical device company. With the closing of this transaction, Optimum Medical has now become a wholly-owned subsidiary of Endovastec™. Optimum Medical owns two subsidiaries, Lombard Medical Limited and Lombard Medical Technologies GmbH (collectively referred to as “Lombard Medical”).

Founded in 1994, Lombard Medical specializes in the R&D, manufacturing, and sales of stent graft systems for aortic endovascular repair. It offers a pipeline of self-developed products that are unique and competitively differentiated in the market. Its core products, including the Aorfix™ Endovascular Stent Graft, Altura™ Endograft System, and Meridian™ Endograft System, deliver innovative treatment solutions for patients with complex abdominal aortic diseases. The combined abdominal aortic product portfolios of Lombard Medical and Endovastec™ will enable us to provide more comprehensive, customized, and precise medical solutions for more abdominal aortic disease patients around the world, enhancing our globally differentiated and competitive product line.

As a medical device company headquartered in the UK, Lombard Medical boasts a complete and well-established quality management system that covers product development, manufacturing, and sales, and meets the regulatory requirements of CE in the EU, FDA in the US, and PMDA in Japan. With years of deep engagement in the European market, Lombard Medical has gained a clearer understanding of the product and service requirements for mature markets, and developed a robust sales network and a wealth of market and channel resources. Upon completion of the acquisition, Lombard Medical will serve as Endovastec™'s business center in the European market, further expanding the company’s coverage in Europe and facilitating its expansion into major medical device markets such as the United States and Japan. This will contribute to the company’s global development.

 “We are pleased to welcome Lombard Medical to the Endovastec™ family! The completion of the acquisition will further enhance our competitive product line, strengthen our international team of outstanding professionals, and expand our overseas marketing channels. We will integrate resources, empower each other, and collaborate for mutual growth, working together to achieve the company’s strategic goal of global development,” said Dr. Zhu Qing, president of Endovastec™.

Kurt Lemvigh, CEO of Lombard Medical, said, “We are very excited to become part of Endovastec™ and of the MicroPort® Corporation. The combined Lombard Medical and Endovastec™ product portfolio is today one of the broadest and most appealing in the Endovascular business. The acquisition enables us to grow our combined business very significantly in key geographies like Europe, Latin America, Japan, and United States and opens the way to have access to an excessive pipeline of future innovative and pioneering technologies.” 

Jonathan Chen, chairman of Endovastec™, said, “The closing of the Lombard acquisition is an important milestone for Endovastec™ and comes at critical time for our company as we look to aggressively accelerate the expansion of our overseas business. With established commercial channels and expertise in Europe, Latin America, Japan, and the US markets, we look forward to the contributions the Lombard team to evolve our Endovastec™ business into a leading global endovascular and peripheral medical device business.”