Goldman invests $37m in China's Venus Medtech

According to an announcement, the capital will support research and development efforts as well as the commercialization of Venus' cardiac valve products. Goldman flagged Venus' strong management, attractive growth prospects and technological expertise in the decision to invest as well as broader growth potential in China's healthcare sector.

Prior investors in Venus have included Dinova Venture Capital, Sequoia Capital China and Qiming Venture Partners. "Venus Medtech is a leading developer of innovative cardiac valve products in China," Qiming managing partner Nisa Leung said. "We are confident about its industry advantages in technology and resources, and are convinced that under the leadership of its seasoned management team, Venus Medtech will become a leader in the R&D of cardiac intervention therapies in China and even around the world."

The investment coincides with the launch of a cardiac valve research institute as a joint venture between Venus and a regional hospital. This entity will promote minimally invasive heart disease technologies as the company brings its portfolio in this field to market. Venus' A-Valve product is the only transcatheter aortic valve solution meeting China Food and Drug Administration clinical requirements.

Goldman activity in China's healthcare sector has recently included a $20 million Series B round in biotech firm Ascletis and participation in a $610 million investment in two medical device subsidiaries of Neusoft Corporation.

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• Topics
• Greater China
• Healthcare
• Technology
• China
• Goldman Sachs
• Sequoia Capital
• Qiming Venture Partners