"我们对本届进博会满怀期待，并始终以饱满热情与信心投身其中。 一方面，我们期待借助进博会 的聚势效应，与中国医疗健康事业同频共振。通过这一平台，我们可以更精准地捕捉本土医患的临床痛 点与未被满足的需求，加速引入更加符合中国诊疗场景的创新产品，让中国患者同步享受到全球领先的 医疗科技成果，为"健康中国 2030"贡献切实力量。另一方面，我们也期待以进博会为纽带，推动'中国 范式'的医疗创新走向世界。进博会的深层价值在于搭建起开放协作的桥梁，让本土创新力量与国际资 源更高效地对接。我们希望通过研发合作、商业推广等多元生态协作，推动更多贴合临床需求的创新方 案落地和服务本土患者，也助力'中国智造'优质成果走向更广阔的世界舞台，提升全球医疗健康领域的 协作效能。"波士顿科学表示。 资料显示，波士顿科学是全球领先的创新医疗科技公司，1979年成立于美国。46年来，波士顿科学 始终致力于为生命创新，每年研发投入占营收10%以上，目前共有10款产品或技术获得被誉为医药界诺 贝尔奖的"盖伦奖"或被提名，2016至2025年连续十年入选《财富》全球最受赞赏公司榜单。1997年，波 士顿科学正式进入中国市场，在华业务覆盖心脏、外 ...

招商通知： 2025年9月4-5日，第三届全球手术机器人大会 2025年7月16日， 微创医疗 发布《有关建议策略重组心律管理业务的不具约束力建议》的公告。根据该建议，微创医疗计划将 其CRM业务与微创心通医疗科技 有限公司（股份代号：02160）的业务进行合并 。 重组背景 微创医疗 是一家领先的医疗器械集团，业务涵盖心血管介入、骨科医疗器械、CRM、大动脉及外周血管介入、神经介入、结构性心脏病业务、手术机器人等多个 领域。其CRM业务专注于研发、制造及销售用于诊断、治疗及管理心律失常及心力衰竭的产品，包括 起搏器、除颤器、心脏再同步治疗装置及配套导线产品 。微 创心通则专注于结构性心脏病的经导管解决方案。 重组理由 建立心脏病产品平台 ：通过合并CRM业务和微创心通的业务，形成一个强大的心脏病产品平台，提供从CRM的起搏器、除颤器到结构性心脏病的全面产品 组合。 目前，该重组建议尚不具约束力，且未构成任何具约束力的要约、协议或承诺。 # 关于微创医疗 植入式心脏起搏器 共享国际营销及销售渠道 ：合并后可进一步共享及统筹全球市场资源，产生协同效应，扩大合作，建立更强的全球市场据点和影响力。 扩大业务规模及增 ...

Core Viewpoint - MicroPort Medical announced plans to restructure its Cardiac Rhythm Management (CRM) business by merging it with MicroPort Heart, aiming to enhance operational efficiency and market recognition [1][2]. Group 1: Company Overview - MicroPort Medical is a leading high-end medical device manufacturer in China, with various business segments including MicroPort Heart and CRM [1]. - MicroPort Heart specializes in products for treating structural heart diseases, with notable offerings like the Transcatheter Aortic Valve Implantation (TAVI) series [1]. Group 2: CRM Business Details - The CRM business, currently operated by MicroPort Cardiac Rhythm Management Limited (CRM Cayman), includes products for diagnosing and managing arrhythmias and heart failure, such as pacemakers and defibrillators [2]. - As of the announcement date, MicroPort Medical holds a 50.13% stake in CRM Cayman, with the remaining shares owned by other investors [2]. Group 3: Strategic Rationale for Merger - The merger aims to create a comprehensive cardiac product platform, share international sales channels, improve capital efficiency, and enhance recognition in international capital markets [2]. - The decision to merge is also linked to a previous agreement that poses redemption risks if MicroPort Heart does not meet certain IPO milestones by July 2025 [3]. Group 4: Financial Performance - MicroPort Heart's revenue for 2020, 2021, and 2022 was $180 million, $220 million, and $205 million respectively, but it has been operating at a loss [5]. - MicroPort Medical's financial outlook for 2024 shows a projected revenue of $1.031 billion, an 8.5% increase year-on-year, with a reduced net loss of $268 million, narrowing by 58.6% [5].

Core Viewpoint - The strategic restructuring of MicroPort Medical and its subsidiary, HeartLink Medical, aims to create a comprehensive cardiac product platform to enhance market competitiveness and operational efficiency amid industry challenges [1][2][10] Company Overview - HeartLink Medical, once valued at HKD 52.9 billion, has seen its market capitalization plummet by nearly 90% to approximately HKD 6 billion [2][4] - MicroPort Medical has faced significant financial pressure, accumulating losses of USD 1.811 billion (approximately RMB 13.1 billion) from 2020 to 2023, alongside substantial R&D expenditures totaling RMB 23.24 billion [5][6] Financial Performance - HeartLink Medical reported a revenue of RMB 362 million in 2024, marking a 7.54% increase from 2023, while its net loss narrowed significantly by 89.51% to RMB 49.446 million [4] - MicroPort Medical's financial targets include achieving approximately RMB 10 billion in revenue with a loss of RMB 2 billion in 2024, aiming for profitability by 2025 [6] Strategic Rationale - The merger of MicroPort's CRM business with HeartLink's structural heart disease operations is intended to leverage existing international sales networks, reduce redundant costs, and enhance product offerings [2][10] - The integration aims to create a unique platform that addresses both structural heart disease and rhythm management, potentially attracting long-term capital focused on the cardiovascular sector [2][6] Market Context - The TAVI market in China is projected to grow rapidly, with an expected compound annual growth rate of 53.1%, reaching RMB 5.0557 billion by 2025 [8][9] - The restructuring is seen as a critical move to challenge international competitors like Edwards Lifesciences and Medtronic in the Chinese market [9] Challenges and Risks - The integration of two distinct business units poses risks related to operational synergy, valuation balance, and potential regulatory scrutiny regarding antitrust issues [7][8] - HeartLink Medical's cash balance of RMB 801 million as of June 2024 necessitates careful management of resources between CRM business recovery and TAVI capacity expansion [10]

其中，心通医疗一度跳空高开飙升近21%，但此后出现回落，截至发稿时间股价涨幅超过6%。 值得一提的是，心通医疗股价的异动上涨除了板块因素外，也和微创医疗（00853.HK）考虑将CRM业务并入心通医疗这则消息有关。 事实上，曾入选港股百强榜单的微创医疗也在今日出现异动，股价一度跳涨近7%。 微创医疗拟将CRM业务并入心通医疗 7月17日，生物医药B类股再度迎来普涨行情，三叶草生物-B（02197.HK）、科伦博泰生物（06990.HK）、心通医疗-B（02160.HK）等多股异动上涨。 其中，附属公司心通医疗是中国领先的结构性心脏病领域创新医疗器械企业，起源于2009年成立的瓣膜预研项目。 目前，心通医疗自主研发的经导管主动脉瓣植入（TAVI）系列及其手术配套产品已成功登陆全球20余个国家和地区的700余家核心医院，其中VitaFlow Liberty®经导管主动脉瓣膜及可回收输送系统于2024年成为国内首款自主研发并获欧盟CE认证的TAVI系统。 此外，心通医疗亦通过自主研发及与全球合作伙伴的共同研发，建立了涵盖经导管主动脉瓣、经导管二尖瓣、经导管三尖瓣和手术配件，以及左心耳 封堵器等产品的战略性研发布局。 ...

Core Viewpoint - The article emphasizes the importance of "small and flexible" legislation that addresses specific social issues and meets the urgent needs of the public, ensuring that laws are practical and effective in solving real problems [1][2][3][4] Group 1: Legislative Trends - There is a growing trend of "small and flexible" legislation, particularly in the social welfare sector, which allows for quick responses to pressing issues [1][2] - Local regulations, such as the decision in Yancheng to equip public places with AEDs, demonstrate the effectiveness of targeted legislation in addressing specific community needs [1] - The focus on problem-oriented legislation enhances the relevance, applicability, and operability of local laws [2] Group 2: Implementation and Effectiveness - The "small and flexible" legislative approach is characterized by its ability to be practical, assessable, and implementable, as seen in the safety management regulations for rental factories in Changzhou [2][3] - Legislation is not an endpoint; its effectiveness must be evaluated through practical application and public feedback [3] - The quality of legislation remains a priority, ensuring that necessary research and procedural integrity are maintained despite the concise nature of the laws [3] Group 3: Public Engagement and Trust - The foundation of the rule of law lies in its responsiveness to public concerns, fostering broad consensus during the legislative process [4] - Legislation should reflect the interests and needs of the people, enhancing their sense of security, happiness, and well-being [4]

Core Viewpoint - The company is considering a non-binding proposal to restructure its CRM business by merging it with the operations of MicroPort Cardiac Rhythm Management, aiming to enhance competitiveness and create long-term value for stakeholders [1][2] Group 1: Business Overview - The company, along with its subsidiaries, is a leading medical device group focused on the innovation, manufacturing, and sales of high-end medical devices globally, with business segments including cardiovascular intervention, orthopedic medical devices, CRM, and others [1] - The CRM business is dedicated to developing global leading CRM solutions, primarily involved in the research, manufacturing, and sales of products for diagnosing, treating, and managing arrhythmias and heart failure, including pacemakers, defibrillators, and cardiac resynchronization therapy devices [1] Group 2: Strategic Benefits of the Merger - The merger of the two businesses will help establish a cardiac product platform, offering a diversified product line that includes CRM products and structural heart disease solutions, enhancing the company's global market development capabilities [2] - By merging the two businesses, the company aims to create synergies that will expand the scale and growth potential of the combined operations, improving revenue, profitability, and cash flow [2] - The unified financial management resulting from the merger will enhance capital efficiency and fundraising capabilities, while promoting the diversified product platform in international markets to increase recognition of the related value and growth potential [2]

Group 1 - The company is considering a non-binding proposal for a strategic restructuring of its CRM business to enhance internal resource integration and improve competitiveness [1] - The CRM business will potentially merge with the operations of MicroPort Cardiac Rhythm Management Co., Ltd., a non-wholly owned subsidiary listed on the Hong Kong Stock Exchange [1] - The company is a leading medical device group focused on the innovation, manufacturing, and sales of high-end medical devices globally, with various business segments including cardiovascular intervention and CRM [1] Group 2 - The CRM business aims to develop leading global CRM solutions, focusing on the research, manufacturing, and sales of products for diagnosing, treating, and managing arrhythmias and heart failure [1] - The product offerings include pacemakers, defibrillators, cardiac resynchronization therapy devices, and associated lead products, along with monitoring product combinations [1] - The structural heart disease business under MicroPort Cardiac Rhythm Management focuses on innovative transcatheter solutions and aims to provide advanced comprehensive solutions for treating structural heart diseases [2]

Core Viewpoint - Sudden Cardiac Death (SCD) is a major global health issue, particularly in patients with Hypertrophic Cardiomyopathy (HCM), where current clinical guidelines show low performance and inconsistent accuracy in risk assessment [1][2]. Group 1 - SCD has an annual incidence of 50-100 cases per 100,000 people in North America and Europe, with ventricular arrhythmias being the primary mechanism [1]. - Implantable Cardioverter Defibrillators (ICDs) can effectively terminate arrhythmias and reduce mortality in high-risk patients when implanted preventively [1]. - The current risk stratification paradigm, based on Left Ventricular Ejection Fraction (LVEF) below 30%-35%, is primarily applicable to ischemic and dilated cardiomyopathy patients but fails to provide comprehensive risk assessment [2]. Group 2 - A recent study published by researchers from Johns Hopkins University introduced a multimodal AI model named MAARS (Multimodal Artificial intelligence for Ventricular Arrhythmia Risk Stratification) to predict arrhythmic death in HCM patients [3][4]. - MAARS utilizes a Transformer-based neural network that learns from electronic health records, echocardiograms, radiology reports, and contrast-enhanced cardiac MRI, which is a unique aspect of the model [8]. Group 3 - MAARS demonstrated an Area Under the Curve (AUC) of 0.89 in internal cohorts and 0.81 in external cohorts, significantly outperforming current clinical guidelines which have AUCs ranging from 0.27-0.35 (internal) and 0.22-0.30 (external) [10]. - Unlike clinical guidelines, MAARS shows fairness across different population subgroups, enhancing the transparency of AI predictions and identifying risk factors for further investigation [10]. - Overall, MAARS is a powerful and reliable clinical decision support tool for risk stratification of SCD in HCM patients, with potential to significantly improve clinical decision-making and patient care through integration with automated data extraction systems or as a concept validation for personalized patient care [10].

Industry Overview - The Automated External Defibrillator (AED) is a portable medical device designed for rescuing patients experiencing cardiac arrest, with a market size in China projected to grow from 147 million yuan in 2019 to 5.291 billion yuan by 2024 [1][12] - The AED's core function is to restore normal heart rhythm through electric shock, primarily used for ventricular fibrillation and pulseless ventricular tachycardia [1][7] - The current AED configuration rate in China is extremely low at 0.2 units per 100,000 people, compared to 317 in the US and 555 in Japan, indicating significant room for growth [7][12] Policy Support - The Chinese government has implemented multiple policies to enhance AED coverage in public spaces, including the "Healthy China Action (2019-2030)" which mandates AED installation in crowded areas [9][10] - Recent initiatives include the "Key Development Action Plan for Emergency Equipment (2023-2025)" aimed at increasing AED promotion and improving pre-hospital emergency capabilities [9][11] Market Dynamics - The AED market in China is experiencing explosive growth due to rising health awareness and government policies, with potential market size reaching 600 billion yuan if the configuration rate aligns with national standards [12][20] - Domestic brands like Mindray and Yuyue are gaining market share, with Mindray holding a 61% market share, while foreign brands like Zoll and Nihon Kohden are losing ground [14][20] Competitive Landscape - The market has shifted from being dominated by foreign brands to a more concentrated competitive landscape with domestic manufacturers leading the way [14][20] - The average price of domestic AEDs has decreased to around 20,000 yuan, facilitating wider adoption [14][20] Future Trends - The penetration of domestic AEDs is expected to exceed 90%, with a focus on technological advancements and cost advantages driving the market [20][21] - The application of AEDs is diversifying beyond traditional public spaces to include schools, communities, and even households, indicating a growing demand in various settings [21][22] - Innovations in AED products are anticipated, particularly for home use, with a trend towards smaller, more portable devices aimed at families and specific demographics like children and the elderly [22]