The joint venture between Sorin Group and MicroPort Scientific Corporation was officially established with the enterprise registration certificate from the Shanghai Administration for Industry and Commerce. This was learned in a press release which states that "the joint venture, based in Shanghai and named MicroPort Sorin CRM , will start operations in June 2014".
MicroPort holds 51% stake in the new company, while Sorin has the remaining 49%. "The new company will enable MicroPort and Sorin to cooperate in importing and marketing Sorin's CRM devices in Greater China, as well as offering related services," the statement continues. "At the same time, the joint venture will work on the development and the production of locally produced devices for the Chinese market”.
By mid-morning, Sorin's stock gained 0,18%, a 2,184 euro.
