<article>Chinese replacement heart valve maker <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Venus+Medtech" target="_blank">Venus Medtech</a> has raised $37 million from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Goldman+Sachs" target="_blank">Goldman Sachs</a>.</article>

Chinese replacement heart valve maker <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Venus+Medtech" target="_blank">Venus Medtech</a> has raised $37 million from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Goldman+Sachs" target="_blank">Goldman Sachs</a>.
The Hangzhou-based company had previously raised funding from <a style="color: #000080;" href="https://www.cbinsights.com/mobile/investor/34629">DiNova Venture Partners</a>, <a style="color: #000080;" href="https://www.cbinsights.com/mobile/investor/1089">Qiming Venture Partners</a>, <a style="color: #000080;" href="https://www.cbinsights.com/mobile/investor/3099">Sequoia Capital China</a> and <a style="color: #000080;" href="https://www.cbinsights.com/mobile/investor/42165">Shenzhen CDF-Capital Co</a>.
The company&#8217;s A-Valve is the only TAVR (transcatheter aortic valve replacement) device that has been approved by the China Food &amp; Drug Administration.
Venus Medtech also announced opening of its first research hospital, which is a joint venture with Zhejiang University School of Medicine, and located in the Binjiang district of Hangzhou, the capital of Zhejiang province. The facility will focus on minimally invasive treatment for heart diseases.
A pulmonary valve is undergoing clinical trials on 40 patients in the UK, Ireland, India, Thailand, Vietnam and Indonesia. The company said it expects to enroll more patients in order to get CE Mark approval.
A spokesperson for Goldman Sachs said that the firm chose to invest in Venus Medtech because of a number of factors, including a strong healthcare sector in China with significant growth potential, faith in the company&#8217;s management team, and attractive growth prospects in the business.
“With our long-term commitment to invest in Chinese innovative healthcare companies, Sequoia Capital China expects Venus Medtech to benefit from a wider range of Chinese cardiac patients by continuously developing new products and technologies as a leader in the field of cardiac valves, ” stated Sequoia Capital China partner Kevin Chen.
The TAVR market is expected to surpass the coronary artery intervention market worldwide by 2025, according to Martin Leon, Professor of Medicine at Columbia University Medical Center. More than 400 TAVR procedures have been performed in China in the last six years. The first was performed by Dr. Ge Junbo from Zhongshan Hospital of Fudan University in 2010.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=china+medical" target="_blank">Bain Capital enters China, acquires Asia Pacific Medical Group in $150m deal </a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=china+medical" target="_blank">Medical tourism enabler Medigo raises $3.5m more from CL Ventures for China foray </a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=china+medical" target="_blank">Raffles Medical to buy chain of clinics in China, Indochina for $24.5m</a>
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China: Goldman Sachs invests $37m in Chinese valve maker Venus Medtech

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China: Goldman Sachs invests $37m in Chinese valve maker Venus Medtech

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