Hangzhou Venus MedTech Ltd. (Venus MedTech, 02500.HK), a leading innovator in medical devices for structural heart disease in China, announced on March 1st, 2022 that the Venus Global Heart Valve Innovation Center will be sited in Israel. In order to improve the company's global innovation system and product layout, this initiative aims to leverage Israel’s talents and culture to invent and improve medical devices.

 

Venus MedTech will appoint Amir Gross, CEO of Cardiovalve Ltd., a serial entrepreneur and an innovator in repair and replacement of mitral and tricuspid valve systems, as head of the new global heart valve innovation center. Amir will head local incubation of innovative therapeutic technologies, including a new generation of valves for the treatment of aortic regurgitation based on Cardiovalve’s technology platform, and the application of digital health technology to heart valve systems. Technologies developed at the center will be applied worldwide.

 

The center’s exchange and training programs for both Chinese and Israeli medical engineers will leverage the exceptional resources of both countries and jump-start long-term development and partnerships. Israel is renowned for its medical device industry and attracts many international medical technology companies. China’s engineers will bring in even more health care invention and improvement.

 

Venus MedTech has long been an integral player in medical device innovation and deeply involved in the Israeli ecosystem. In December 2018, the company acquired Keystone Heart, which developed the cerebral embolic protection device TriGUARD3. Additionally, the company recently acquired Cardiovalve for about $300 million to expand its presence in the marketplace for mitral and tricuspid valve replacement products.

 

Eric Zi, founder and general manager of Venus MedTech, said, “We believe establishing a global heart valve innovation center in Israel will enable us to connect the world’s top doctors and high-tech talents more closely and efficiently, and we believe our valve treatment technology will reach a new level and achieve international leapfrog development under Amir’s leadership.”

 

Amir Gross, who will head this new center, adds, “Venus MedTech enjoys a favorable reputation in Israel and has been a long-time partner of the country. As a Chinese company expanding its global presence, Venus MedTech has invested heavily in resources to build innovative systems and products, which shows its commitment to innovation. And we will do our best to build an innovation ecosystem based on the unique resources of China and Israel to bring high-value medical devices to clinicians and patients.”