[ET Net News Agency, 9 June 2021] Credit Suisse initiated coverage on MicroPort
CardioFlow Medtech (02160) with an "outperform" rating and a target price of HK$21.
The research house said the CardioFlow sales team can leverage MicroPort's (00853) sales
team to penetrate the market in China. In the ex-China market, CardioFlow's sales and
marketing teams can leverage MicroPort's global brand awareness.
Meanwhile, Credit Suisse expects VitaFlow II to be a large revenue contributor in the
TAVR segment in the long term, as the second-generation device has the added functionality
of retrievability, which would allow physicians to perform TAVR procedures with a lower
risk. It expects the success rate adjusted TAVR/TMV revenue contribution to account for
64%/24% of the total sales and reach Rmb5bn/Rmb1.9bn. (KL)