DEVICE MAKERS:

Paid $40M For Office Campus

China’s MicroPort lands new orthopedics exec for expanding base in Irvine

Device maker MicroPort Orthopedics Inc. and its parent company have started staffing up a new two-building office campus in Irvine that it bought late last year.

The company, with its parent company in Shanghai and a new U.S. base recently established in Irvine, earlier this month named medical device veteran Rob Cripe as chief commercial operations officer.

“Rob’s expertise will equip us with the tools necessary to continue our strategic growth, both in product development and technological advancements, in the U.S. and beyond,” MicroPort Orthopedics President Benny Hagag said in a statement. “This valuable addition to our team is yet another way that MicroPort is prioritizing advancing in the orthopedic space and medical devices as a whole.”

Cripe, an Irvine resident, has over 30 years of experience in the medical device industry; he most recently held executive roles at Irvine-based Integrated Endoscopy and Biogennix.

“As a veteran in the medical device industry, I am looking forward to joining a company that values the innovation that is happening within this sector,” Cripe said. “MicroPort is rapidly expanding its footprint in the industry, and I am excited to be a part of its growth and strategy moving forward.”

4th Largest

MicroPort Orthopedics is a unit of MicroPort Scientific Corp., which was founded in 1998 and now offers a variety of medical devices related to orthopedics and cardiovascular health, including heart stents, pacemakers, and implantable cardiac defibrillators.

Billing itself as the fourth largest multinational orthopedic producer, the company counts over 9,000 employees globally, and reports serving over 10,000 hospitals in more than 80 countries.

It reported revenue in the first half of 2021 rose 18% to $384.6 million while its loss in that same period widened from $65.6 million to $90.3 million.

Shares of MicroPort are listed on Hong Kong’s stock market (HK: 0853); it currently has a valuation around $6.5 billion.

New Irvine HQ

In November, MicroPort completed the roughly $40 million purchase of its new U.S. base in Irvine, at 16800 and 16802 Aston St.

The new MicroPort Scientific America division will be housed at the office complex that totals about 115,000 square feet. It will hold an “Innovation Center and Intelligent Manufacturing Base,” the company said late last year.

The Business Journal was first to report that the new hub would be set up in Irvine

In addition to executive roles, MicroPort Scientific America said it is looking to hire up to 500 in areas such as research and manufacturing for the Irvine office.

The company said “multiple business units will set up their North America branches [in Irvine] to actively develop local business with the help of local resources.”

MicroPort Scientific America’s base is near the expansive headquarters campus of Edwards Lifesciences Corp. (NYSE: EW), the largest medical device maker in Orange County. Medtronic PLC, the largest medical device maker in the world, also has operations in the city. ■