Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Venus Medtech announces 2022 interim results: quality and efficiency improvement, profitability focus, rapid progress in global presence


News provided by

Venus Medtech (Hangzhou) Inc.

01 Sep, 2022, 13:04 GMT

Share this article

Share toX

Share this article

Share toX

HANGZHOU, China, Sept. 1, 2022 /PRNewswire/ -- On August 31, 2022, Venus Medtech (Hangzhou) Inc. (2500.HK, hereinafter referred to as "Venus Medtech"), a leading provider of integrated solutions for transcatheter structural heart valvular therapies in China, announced its interim results for the six months ended June 30, 2022. Under repeated COVID-19 outbreaks, Venus Medtech intensified its focus on overseas markets, making important breakthroughs in registration and commercialization. In the domestic market, Venus Medtech reported solid sales performance as quality and efficiency improvement became an important theme for the core objective of profitability.

Continue Reading
This image opens in the lightbox
image_821354_39486828

According to interim financial statements, Venus Medtech recorded RMB 210 million in sales revenue in H1 2022, representing a 18.9% growth over H2 2021. Gross profit totaled RMB 164 million, a 20.5% growth over H2 2021. In specific, overseas sales recorded RMB 14 million, a year-on-year increase of 150.9%. It is worth noting that VenusP-ValveTM, the first Chinese-made transcatheter pulmonic valve replacement (TPVR) system approved for marketing in Europe, generated RMB 9 million in sales in only two months following its registration earlier this year, reflecting the huge potential of overseas markets.

2022 was a key year for Venus Medtech to deepen its global presence. VenusP-ValveTM, the Company's in-house developed novel TPVR system, became the first Chinese valve product to be approved in the EU. The product also set a precedent with its approval in China, as the National Medical Products Administration (NMPA) accepted overseas clinical trials data for the first time. It paved the road for our future devices and laid the foundation for global multi-center studies. The EU approval also facilitated the compassionate use of the product in the U.S., making it the first clinically applied Chinese TPVR system in the country. In addition, the Investigator Meeting for VenusP-ValveTM US Clinical Study was held, accelerating multi-center clinical trials in the U.S. and Japan.  

Acquisition of Cardiovalve Ltd. in January 2022 optimized our innovative products pipeline of mitral and tricuspid valve interventional treatments, the most promising area for innovation in structural heart therapies. Cardiovalve is also the first privately held company to receive FDA's early feasibility study (EFS) approval for both TR and MR indications. For the treatment of tricuspid regurgitation, its device received 'Breakthrough Device Designation' by the FDA. Following the completion of the acquisition, Cardiovalve enrolled 10+ patients over six months in Europe and the U.S. The procedures were successful, and patients recovered well. Clinical trial for Cardiovalve in China is expected to kick off within the year as part of its global multi-center study, targeting at global product launch and bringing innovative solutions to global patients.

In addition, Venus Medtech has a number of novel products undergoing clinical trials, such as the Liwen RFTM radiofrequency ablation system for the treatment of hypertrophic cardiomyopathy (HCM), new-generation TAVR products Venus-PowerXTM and Venus-VitaeTM for the treatment of aortic stenosis, and renal denervation (RDN) systems for the treatment of resistant hypertension. Venus Medtech looks to advance clinical trials for the above products in developed countries in Europe and America. In particular, the Liwen RFTM system recently entered the NMPA's Special Review and Approval Procedures for Innovative Medical Devices, which will fast-track its approval.

Domestically, repeated COVID-19 outbreaks had continued negative impact on the market performance of China's innovative medical devices. In response, Venus Medtech focused on profitability and quality growth, aiming to stabilize sales in middle to high-end centers and maintain its gross profit margin. In H1 2022, domestic sales recorded RMB 196 million, up 14.1% by H2 2021, primarily attributable to VenusA-ValveTM and VenusA-PlusTM, our first and second generation TAVR products approved in China. Specifically, VenusA-PlusTM accounted for approximately 60%.

In the first half of 2022, the VenusA series reported around 1,800 implantations, sustaining the Company's market dominance with a 63% share. As of the end of H1, the VenusA series accumulated more than 10,000 implantations through an extensive network of 370+ hospitals and clinical centers, making Venus Medtech the only TAVR device maker to hit five digits. As the first-mover in the market, the VenusA series has considerable clinical follow-up data backing up its long-term safety and efficacy. VenusA-ValveTM is the only TAVR system in China with seven-year data corroborating its long-term safety.

Looking ahead to the second half of the year, global growth and profitability will be the overriding goals of Venus Medtech. In overseas markets, the Company will strengthen its commercialization capabilities and continue to increase the percentage of foreign revenue, thereby building brand awareness. On the domestic side, the Company will aim at sales efficiency optimization and higher per hospital output at medium to high-grade hospitals. Profit margin is expected to grow by reducing production costs and expenses.

Eric Zi, Founder, Executive Director, and General Manager of Venus Medtech said "The global business community faces critical challenges in the post-pandemic era. Investors are getting more conservative. Trade tensions are mounting and the east and the west are playing a zero-sum game. In this context, the first thing for businesses is to survive. At Venus Medtech, global growth and profitability are our priorities. Gaining a solid foothold is key to better develop global markets. We need to improve quality and efficiency and be a powerhouse ourselves to avoid unproductive or even counterproductive work and make breakthroughs in global markets. We will survive hard times and garner strength for the future."

Photo - https://mma.prnewswire.com/media/1889875/image_821354_39486828.jpg

Modal title

Also from this source

Venus Medtech Reports 2024 Annual Results: Profitability Surges with Robust Global Expansion and Innovations

Venus MedTech (Hangzhou) Inc. (Stock Code: 2500.HK, hereinafter referred to as "Venus Medtech" or the "Company"), a global leader in structural heart ...

Venus Medtech Venus-Vitae Completes First Two Implantations in SMART-ALIGN Pivotal Clinical Study

Venus Medtech Venus-Vitae Completes First Two Implantations in SMART-ALIGN Pivotal Clinical Study

Venus Medtech (Hangzhou) Inc. (Venus Medtech, 02500.HK), a leading provider of integrated solutions for transcatheter structural heart valvular...

More Releases From This Source

Explore

Health Care & Hospitals

Health Care & Hospitals

Medical Pharmaceuticals

Medical Pharmaceuticals

Medical Equipment

Medical Equipment

Earnings

Earnings

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.