The acquisition means that Genesis will be able to add J-Valve, a minimally invasive transcatheter aortic valve replacement (TAVR) device for both aortic regurgitation and stenosis patients, to its product portfolio. This addition will greatly improve Group's ability to better meet the needs of patients, interventional cardiologists, and cardiac surgeons.

J-Valve, developed by JCM, is one of only two companies worldwide, and the first and only in China, to have successfully developed and commercialised a minimally invasive TAVR device approved for both aortic regurgitation and stenosis patients. Its unique product design minimises stent migration, leading to improved safety and clinical efficacy. On top of this, J-Valve can cater to a wider pool of patients, including patients with low coronary ostium height and small sinuses, as well as those requiring aortic and mitral valve-in-valve procedures.

On the leadership front, the Founder and President of JCM, Zhang Ji will continue in his role as President of JCM. In addition, he will also serve as CTO for Genesis' Structural Heart Franchise, leveraging his experience and expertise to drive new product development and innovation.

J-Valve consists of both transapical (J-Valve TA) and transfemoral (J-Valve TF) TAVR. The J-Valve TA has already enjoyed considerable success with regurgitation and stenosis patients in China since 2017. To date, it has been successfully used to treat more than 3000 patients in China, with more than 1000 in 2021. It is currently one of China's top 3 most used TAVR by volume alone.

J-Valve TF is limited to only compassionate use in US and Canada, with more than 20 valve implants to date. After completing clinical trials, and gaining premarket approval from the US Food and Drug Administration, it will become fully available in the US. At the same time, plans to bring J-Valve TF to the Chinese market are concurrently underway.

Warren Wang, Chairman and CEO of Genesis MedTech Group said, "The acquisition of JCM and J-Valve exemplifies the type of innovations we envisage as part of a growing Genesis portfolio. We are incredibly pleased to start a new Structural Heart Franchise, spearheaded by the best-in-class TAVR solution, J-Valve. By doing this we hope to better support cardiac surgeons and cardiologists in their fight against structural heart diseases."

Globally, structural heart disease (SHD) is a major health problem affecting more than 2% of the general population. With an aging global population, the prevalence of SHD is rising. In the United States alone, more than 5 million patients are diagnosed annually. In China, there's a total of 25 million patients diagnosed with structural heart diseases. In the USA, TAVR implementations surpassed Surgical Aortic Valve Replacement (SAVR) in 2019. The same is expected to occur in China by 2025.