17 October 2021

William Blair and BDA advise Hemovent on its sale to MicroPort for €123m

Acquired by MicroPort

2021

BDA Partners is pleased to announce Hemovent, a company backed by a consortium of institutional investors led by MIG Capital, advised by William Blair in conjunction with BDA Partners, has been acquired by MicroPort (SEHK Ticker: 0853) for €123m in total consideration (including future milestone payments). The transaction was signed on Aug 6, 2021, with all necessary regulatory approvals granted on Sep 28, 2021, and closed on Oct 13, 2021.

Hemovent, established in 2013 in Aachen, Germany, is a medical device company specializing in developing Extracorporeal Life Support (ECLS) systems. Hemovent’s flagship product, the MOBYBOX® system, is the first fully integrated ECLS system to manage both perfusion and gas exchange in a single device.  It has set a new standard for Extracorporeal Membrane Oxygenation (ECMO) devices in terms of mobility and ease of use.

MicroPort has established its foothold in the critical care sector through its subsidiary MicroPort® Surgery, providing patients with comprehensive medical solutions for cardiac surgery, emergency and critical care. The Hemovent acquisition will further advance MicroPort’s strategy in emergency and critical care, through the combination of Cardiopulmonary Bypass (CPB) with the R&D, manufacturing and commercialization of ECMO products.

Andrew Huntley, Managing Partner and Global Head of Healthcare at BDA Partners, said: “We’re very happy to have helped Hemovent find an ideal strategic partner in China that will take its ground-breaking technology to the next level. The deal reflects our deep knowledge in the medtech sector, extensive Asian strategic and financial sponsor network and seamless execution in global sale processes. This is a great outcome for all parties involved.”

Anthony Siu, Partner, Co-Head of Shanghai at BDA Partners, commented: “This is BDA’s 8th healthcare M&A transaction involving a Chinese buyer in the last two years. The transaction reaffirms our capability to successfully identify strategic buyers for our global sale processes, leveraging on our strong client network in China and across Asia.  It further demonstrates our ability to navigate through the complexity in executing cross-border transactions for our clients. We expect to see continued strong interest in the healthcare sector from Asian investors.”

About Hemovent

Hemovent, established in 2013, in Aachen, Germany, is a pre-revenue medical device company specializing in the development of ground-breaking Extracorporeal Life Support (ECLS) systems, a technology often referred to as Extracorporeal Membrane Oxygenation. Hemovent’s flagship product, the MOBYBOX® system has already obtained its CE Mark and is commercially available in Europe. The MOBYBOX® system is the first fully integrated portable ECLS system to manage both perfusion and gas exchange in a single device. www.hemovent.com

About MIG Capital

MIG Capital was founded as the management company of MIG Funds in 2004. The investment funds managed by MIG Capital invest in start-up businesses in important high-tech sectors of various industries such as biotechnology, medical devices, material and clean technology, information technology and automation engineering. MIG Capital currently manages an investment portfolio comprised of holdings in 30 companies. To date MIG Capital has raised approximately €850 million in capital across their investment funds. www.mig.ag/en/

About MicroPort

MicroPort is a leading medical devices company based in China focused on designing products for a range of medical fields including cardiology, interventional radiology, orthopedics, electrophysiology, and surgical management. MicroPort has established its foothold in the critical care sector with its subsidiary MicroPort Surgery, which is committed to providing patients with comprehensive medical solutions for cardiac surgery, emergency and critical care. MicroPort is listed on the Hong Kong Stock Exchange with a market capitalization in excess of €8.5 billion. www.microport.com

About BDA

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com