In-Depth Analysis of Technological Competitive Advantages Between Tongxin Medical's CH-VAD and Abbott's HeartMate 3 Artificial Hearts

Based on the searched data and chart analysis, I now present a complete professional analysis report for you.

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According to data from Tongxin Medical’s STAR Market prospectus, the company’s financial status shows typical characteristics of a “high R&D investment phase”:

Financial Indicator	2022	2023	2024	H1 2025
Operating Revenue (CND 100 million)	0.086	0.504	0.774	0.721
YoY Growth Rate	-	+486%	+53%	Close to full-year 2024
Net Loss (CND 100 million)	1.89	3.06	3.72	1.93
R&D Expenses (CND 100 million)	0.94	1.08	1.48	0.93

• The 2023 revenue growth rate reached 486%, not 710% as mentioned by the user (which may refer to the cumulative growth from 2022 to 2025)
• The selling price of CH-VAD products dropped from CND 459,600 per unit in 2022 to CND 362,300 per unit in H1 2025, a decrease of over 20%
• The production-sales ratio increased from 55.19% in 2024 to 94.74% in H1 2025[1][2]

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Technical Parameter	CH-VAD (Tongxin Medical)	HeartMate 3 (Abbott)	Party with Technical Advantage
Blood Pump Diameter	47 mm	64 mm	CH-VAD is 27% smaller
Blood Pump Thickness	25 mm	51 mm	CH-VAD is 51% thinner
Rotor Diameter	33 mm	Approx. 50 mm	Each has its own advantages
Operating Rotation Speed	2800 rpm	3000-9000 rpm	CH-VAD has lower rotation speed
Maximum Flow Rate	5 L/min	10 L/min	HeartMate 3 is higher
Percutaneous Cable Diameter	3.3 mm	Approx. 6.0 mm	CH-VAD is 45% thinner

• World’s first split-type fully magnetic suspension structure, separating magnetic suspension from the motor
• Maximizes the use of internal pump space, increasing rotor diameter while reducing volume
• The 0.25mm secondary flow channel gap design has been optimized multiple times to ensure sufficient flow flushing
• The main flow channel guide nose cone design avoids stagnation caused by direct blood flow impact on the bottom of the inlet tube[3]

• Full MagLev Flow Technology
• Artificial Pulse Mode: Activated every 2 seconds starting from 4000 rpm
• Achieves contact-free rotation via magnetic suspension bearings, reducing mechanical wear

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According to long-term clinical research data from Fuwai Hospital, Chinese Academy of Medical Sciences[3]:

Survival Rate Indicator	CH-VAD (Fuwai Hospital Data)	HeartMate 3 (International Level)	Difference
6-Month Survival Rate	96%	-	-
1-Year Survival Rate	93%	86%	+7%
2-Year Survival Rate	93%	79%	+14%
3-Year Survival Rate	89%	76%	+13%

CH-VAD outperforms the average level of international fully magnetically suspended LVADs in 1-year, 2-year, and 3-year survival rates, demonstrating better long-term efficacy.

Type of Adverse Event	CH-VAD	HeartMate 3 (MOMENTUM 3)	Party with Advantage
Pump Thrombosis	0 (None)	Extremely Low	CH-VAD
Right Heart Failure (RHF)	10% (0.06 EPPY)	34.2%	CH-VAD has significant advantage
Percutaneous Cable Infection	16% (0.08 EPPY)	Approx. 20%	CH-VAD
Stroke	6% (0.03 EPPY)	Medium Level	CH-VAD
Surgery-Related Bleeding	8% (0.03 EPPY)	-	-

CH-VAD’s incidence of right heart failure is much lower than that of HeartMate 3 (10% vs 34.2%), which is closely related to its smaller size and lower rotation speed design.

• Large-diameter rotor (33mm) produces a flatter H-Q curve
• Only 2800 rpm is required to deliver 5 L/min flow under a 70 mmHg pressure gradient
• Lower operating rotation speed reduces turbulence and blood damage
• Optimized flow channel design avoids the formation of Taylor vortices
• Clinical studies show no pump thrombosis, and flow channels are clean with no signs of thrombosis after pump removal

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1. Smaller Size and Lighter Weight
   • Diameter: 47mm vs 64mm, Thickness: 25mm vs 51mm
   • More suitable for the body type of Chinese patients, with higher surgical implantation convenience

2. Lower Rotation Speed, Less Blood Damage
   • 2800 rpm vs 3000-9000 rpm
   • Significantly reduces the risk of hemolysis and thrombosis

3. Thinner Cable, Lower Infection Risk
   • 3.3mm, the world’s thinnest percutaneous cable
   • Significantly reduces percutaneous cable infection rate (16% vs approx. 20%)
   • Improves patients’ quality of life

4. Significantly Lower Incidence of Right Heart Failure
   • 10% vs 34.2% (71% reduction)
   • Smaller blood pump size reduces the possibility of compressing the left ventricular apex and distorting the ventricular shape

5. Higher Long-Term Survival Rate
   • 1-year: 93% vs 86%, 2-year: 93% vs 79%

1. Higher Maximum Flow Rate
   (10 L/min vs 5 L/min)
2. High Global Market Recognition
   (30,000+ implants)
3. Sufficient 5-Year Clinical Data
4. Dominant Position in the U.S. Market

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As of the end of 2024, implantable artificial heart products approved for marketing in China include:

• Tongxin Medical CH-VAD
  : Accounted for 26.9% of cumulative implants, with over 670 clinical implants completed
• E-Life Medical EVAHEART
  : The first approved in China, the only one approved for long-term treatment indications
• Aerospace Taixin HeartCon
  : Magnetic-fluid dual suspension technology
• CoreMed Corheart 6
  : Fully magnetically suspended technology
• Abbott HeartMate 3
  : Has stopped sales in China

Tongxin Medical’s next-generation product,

, obtained FDA approval to enter clinical trials in 2024, and is currently conducting a with HeartMate 3 in the U.S.[2]:

• Became the
  first Chinese
  active implantable medical device to receive FDA approval for clinical trials
• The clinical trial is covered by the U.S. medical insurance system, with an average support of approximately USD 220,000 per case
• In H1 2025, this revenue contributed CND 29.6116 million, accounting for 41.09% of main business revenue
• While being smaller and lighter, BrioVAD shows potential advantages in blood compatibility, infection resistance, and patients’ quality of life

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• ✅ Blood Compatibility (zero pump thrombosis, low hemolysis)
• ✅ Miniaturized Size (more suitable for Asian patients)
• ✅ Complication Control (low right heart failure, low infection rate)
• ✅ Long-Term Survival Rate (better than international level)

• ✅ Global Market Recognition and Clinical Data Accumulation
• ✅ Commercialization Maturity

Core challenges currently faced by Tongxin Medical:

1. Sustained Losses
   : Cumulative losses of CND 867 million from 2022 to 2024
2. Single Product
   : Relies on CH-VAD commercialization in the short term
3. Customer Concentration
   : Top 5 customers accounted for over 70% in 2023
4. Price Reduction Pressure
   : Price has been reduced by over 20%, facing risks of volume-based procurement under medical insurance
5. Asset-Liability Ratio
   : Reached as high as 93.48% at the end of 2024

CH-VAD’s technical indicators are overall

to HeartMate 3, especially forming differentiated competitive advantages in blood compatibility and complication control. With BrioVAD conducting head-to-head clinical trials in the U.S., Tongxin Medical is expected to break Abbott’s monopoly in the global artificial heart market and become a high-end medical device enterprise with international competitiveness.

However, investors need to pay attention to risk factors such as the company’s sustained losses, single product, and intensified market competition, and carefully evaluate its long-term investment value.

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[1] Sina Finance - “Tongxin Medical’s STAR Market IPO Accepted: Over 670 Artificial Heart Implants Completed” (https://finance.sina.com.cn/jjxw/2025-12-29/doc-inheniaf7915916.shtml)

[2] East Money - “Tongxin Medical’s STAR Market IPO Accepted, Racing to Be the ‘First Domestic Artificial Heart Stock’” (https://finance.eastmoney.com/a/202512313607153811.html)

[3] Tongxin Medical/Brio Health Tech - “Long-Term Results of Fully Magnetically Suspended Ventricular Assist Device CH-VAD Published in Top International Cardiothoracic Surgery Medical Journal” (https://briohealthtech.com/news/detail-102.htm)

[4] Qixie Zhijia - “World’s Only: Abbott’s HeartMate 3 Approved by NMPA” (https://news.qq.com/rain/a/20240727A079DT00)

[5] ByDrug - “U.S. Clinical Trial Accelerated! Can This Enterprise Break the International Monopoly of Artificial Hearts?” (https://bydrug.pharmcube.com/news/detail/9ed60ae846df575944fb13ae0c71dcdd)

[6] Abbott Cardiovascular - HeartMate 3 LVAD Product Parameter Document (https://www.cardiovascular.abbott.com)