The richest surgical robotics spinoff - MicroPort's MedRob

Toumai laparoscopic surgical robot, developed by Shanghai's MicroPort completed its first human clinical trial in 2019, and now received a $512 investment.

"A consortium led by Asia-focused private equity powerhouse Hillhouse Capital has invested 3.5 billion yuan ($512 million) in MicroPort MedBot, the surgical robotic solution unit of medical device developer MicroPort. The investment consists of three tranches.

In the first tranch, the parent company will transfer 7.14 per cent of the registered capital in MicroPort MedBot to the investors for 1.5 billion yuan ($219 million). Next, asset manager Shanghai Changlong, an existing shareholder in MicroPort MedBot, will sell 2.38 per cent of the firm’s registered capital to the same investors for 500 million yuan ($73 million). In the final tranch, the investor consortium will contribute an additional 1.5 billion yuan to the subsidiary, MicroPort said in a filing to the Hong Kong Stock Exchange (HKEX) on September 1.

“The surgical robotic system has major strategic significance with respect to the development of remote, precise, minimally invasive, customised, and intelligent procedures,” said Martin Sun, chairman of MicroPort MedBot, in a statement. “This round of financing will bring necessary financial support for the steady listing, large-scale industrialisation, and marketing of the company’s surgical robot solutions,” he added.

Upon completion of the transactions, MicroPort MedBot’s post-money valuation will reach around 22.5 billion yuan ($3.29 billion). MicroPort’s stake in the subsidiary will fall from almost 64.76 per cent to 53.77 per cent.

Founded in 2014, MicroPort MedBot develops intelligent surgical robotic systems and solutions. Its current business covers five segments, including endoscope, orthopaedics, vascular intervention, natural orifice, and percutaneous puncture."

"MedBot is committed to the leading edge of clinical needs of minimal invasive surgery, to explore the technology of smart robots, intelligent control and information sensing, etc. MedBot has gradually formed a product portfolio of 3D electronic laparoscopy, laparoscopic surgical robot and orthopedic surgical robot, Providing intelligent surgical solutions."

Source: Deal Street Asia, Twitter