SHANGHAI & MILAN--(BUSINESS WIRE)--MicroPort Scientific Corporation (HK: 00853) and Sorin Group (MIL:SRN) (Reuters Code: SORN.MI), announced today that they have entered into a definitive agreement to form a joint venture to market and develop cardiac rhythm management (CRM) devices (implantable pacemakers, defibrillators, cardiac resynchronization devices and related devices) in China. MicroPort will hold a 51 percent stake in the joint venture entity, while Sorin will hold the remaining 49 percent interest. In accordance with the agreement, MicroPort and Sorin shall make initial capital contributions of, respectively, RMB62,220,000 (USD10.2 million) and of RMB59,780,000 (USD9.8 million) in cash in the joint-venture company.
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