67-Year-Old Medical Device Veteran Changes Hands: Miconvey Acquires Huaiyin Medical in Strategic Move Toward Top Five Ambition

(Source: Medical Device Innovation Network)

Recently, the medical device industry has witnessed a major acquisition case.——China-produced minimally invasive surgical newcomer Maikewe Medical Technology Co., Ltd. (hereinafter referred to as“Maikewe”), officially reaching a cooperation with Fosun Diagnostic Technology, fully acquiring its subsidiary Huaiyin Medical Instruments Co., Ltd. (hereinafter referred to as“Huaiyin Medical”）100%Equity.

This transaction not only means that a company with67A Century-Old Medical Device Enterprise Officially“Change of Ownership”, which marks the integration of China's minimally invasive surgical track entering an acceleration phase. Maikewe also takes this opportunity to improve its layout and make a strong push towards the goal of being among the top five in the industry. This acquisition was served by Siche Consulting as the exclusive financial advisor, and it is not a simple corporate acquisition but an accurate resource complementation and strategic layout.

Core of M&A: A Two-Way Empowerment Industry Integration

Unlike some盲目扩张式并购 within the industry, Maikewe's acquisition of Huaiyin Medical was driven from the outset by a clear strategic objective, namelyAchieve Product Pipeline Complementarity and Channel Resource Expansion。

This move has driven Maikewe from a single endogenous growth,Fully Enter“Endogenous Growth+External Mergers and Acquisitions”The new stage of dual-driven。For Maquet, Huaiyin Medical Instruments Co., Ltd. is...70The product line and channel advantages accumulated over the years are precisely the key support for breaking through the development bottleneck and making a push to the top of the industry.

As for those who possess67For Huaiyin Medical, with its long history, relying on a rising leader like Maquet provides access to more substantial R&D investment and broader development opportunities, enabling the renewal and upgrading of this established enterprise. This acquisition, in essence, represents a two-way empowerment and mutually beneficial industrial integration, offering a vivid example of resource optimization for China's minimally invasive surgical industry.

Dual Enterprise Decoding: The Breakthrough of Emerging Leaders and the Accumulation of Established Enterprises

To understand the strategic significance of this merger and acquisition, it is essential to first recognize the core strengths and complementarity of the two companies. On one side is a rapidly emerging domestic newcomer, and on the other, a seasoned industry veteran with deep roots. Together, they create a perfect synergy.“Technology+Accumulation”The Perfect Fusion.

As the leading party of this acquisition, Maikewe was founded2013Year, though it is the industry“Up-and-coming Talent”, but with continuous innovation and a clear layout, it has quickly grown into a national high-tech enterprise and a national specialized and new“Key Little Giant”Enterprise.

Since its establishment, Maikewe has focused on the research, production, and sales of minimally invasive surgical instruments, deeply cultivating four core fields: thoracic, general, urological, and gynecological surgery. It has built a complete system covering the entire chain of R&D, production, and sales, successfully breaking the long-term monopoly of foreign brands in the high-end minimally invasive instrument field.

Its core products cover three major series: ultrasonic cutting and hemostasis scalpel systems, mechanical staplers, and collagen sponges. Among them, the ultrasonic cutting and hemostasis scalpel system has been iterated to the second generation, which can achieve≤7mmVascular safety coagulation has reached an internationally leading level, and it has also participated in the formulation of national standards for collagen hemostatic sponges.NMPA、EUCEAuthoritative certifications in major global markets pave the way for domestically-produced alternatives to establish a solid foundation.

On the path to capitalization, Huaiyin Medical has gained industry recognition with its outstanding technical strength and market potential. Chairman Lanhua Lan proposed early on.“Endogenous Growth+External Mergers and Acquisitions”The dual-driven strategy has set the stage for this acquisition and subsequent industrial integration.

Huaiyin Medical, which was acquired, was originally established in1959Year, it was one of the earliest surgical suture manufacturing enterprises in China, and is now a wholly-owned subsidiary of Fosun Medical Technology. It is also a provincial and municipal high-tech enterprise, as well as a main drafting unit for national and industry standards.

After nearly70After years of hard work, Huaiyin Medical has formed a scaled production capacity and a complete quality system, possessing32000Square meters of factory area and 100,000-level purification plant, with an annual production of medical sutures with attached threads8500Tens of thousands, surgical blades1.2100 million pieces, products80%The above products are exported to more than 100 countries and regions worldwide, with production capacity and export volume ranking among the top in the industry in China.

In terms of product layout, Huaiyin Medical focuses on suture products as its core, covering nearly a thousand specifications. Suture products are its traditional advantage business, with a stable customer base both in China and internationally. Meanwhile, the company has also developed a disposable skin incision assistive closure device, achieving innovative breakthroughs in niche areas.

In addition, its mature global channel network andISO9001、ISO13485Quality system certification, and2024Two main products approved by the EU in the yearMDRCertificates will become an important boost for Maquet to expand the market.

In-Depth Analysis: What is the Confidence Behind Maikewe's Push to Break into the Top Five in the Industry?

As the acquisition is completed, Maikewe明确提出冲刺微创外科行业前五的目标, which is not groundless but a rational judgment based on industry landscape, acquisition synergies, and its own strategic layout.

Currently, the global minimally invasive surgery market continues to grow, according to international industry research institutionsAccording to the authoritative report released by Mordor Intelligence, the global market size of minimally invasive surgical instruments reached USD 36.43 billion in 2025, and will increase to USD 40.06 billion in 2026, with an annual growth rate of 10.45%. It is expected to reach USD 73.07 billion by 2032. As the core engine of global growth, the market for minimally invasive surgical instruments and consumables in China continues to rise. The market size reached USD 1.71 billion in 2025 and is expected to increase to USD 2.68 billion by 2030, with a compound annual growth rate (CAGR) of 9.45%. The industry has broad long-term growth potential, and the historical opportunity for domestically produced alternatives is particularly clear.

From the perspective of industry competition pattern, the minimally invasive surgical instrument market in China still presents“Foreign Investment Dominates, Chinese Production Breaks Through”The Clear TrendIn the core细分领域 of ultrasonic scalpels, international giants such as Johnson & Johnson (Ethicon), Medtronic (Covidien), and Olympus have long占据强势主导地位, forming significant market barriers;如今, domestic companies represented by迈科唯 are gradually breaking foreign monopolies and achieving steady market share penetration through continuous technological breakthroughs.

In the field of staplers, international giants such as Johnson & Johnson and Medtronic have long dominated the electric endoscopic stapler market. As the substitution of domestically produced staplers accelerates, according to Frost & Sullivan's prediction,2030The overall localization rate of China's吻合器 in 年 will reach60.0%, but the localization rate of high-end electric endoscopic staplers is still relatively low, leaving significant room for breakthroughs. This acquisition of Huaiyin Medical by Maikeweii precisely fills the gaps in products and channels, creating synergistic force, providing strong support for its breakthrough in the stapler field and striving for a top-five position in the industry.

This synergy is first reflected in the improvement of the product pipeline. Maikewe is proficient in energy devices and mechanical instruments, while Huaiyin Medical's strengths lie in suture products and surgical blades.After the combination of the two, Maquet built up“Energy Instrument+Stapler+Suture Materials”Complete Product Line, achieving an upgrade from a single product to an overall solution.

Secondly, Huaiyin Medical's mature international channels can help Maikewe quickly expand into overseas markets and shorten the internationalization process; its domestic channels in China can also increase the hospital coverage of Maikewe’s products. In addition, Huaiyin Medical's scaled production and quality systems can further enhance the stability of Maikewe’s supply chain and improve cost control capabilities.

In addition to the synergistic advantages brought by mergers and acquisitions, Maquet's own technical strength and clear future strategy are the core confidence for it to strive for the top five in the industry. Chairman Lanhua Lan clearly stated that in the future, the company will focus on three core directions to comprehensively enhance its competitiveness.

Strategic Implementation: Three Key Directions to Navigate, Aiming for the Top of the Industry

Maquet's Goal to Break into the Top Five: Long-Term Strategy and Continuous Improvement, Not Solely M&A, with Three Core Strategies as Future Pillars

First, strengthen organizational capacity building and consolidate the foundation for development.Lan Jianhua believes that,“Person”Is the key to organizational development. Maquet will continue to build a process-oriented and project-based organization, optimize the talent pipeline, attract high-end talents in R&D, clinical, and marketing fields, improve incentive mechanisms, and stimulate employees' innovation vitality.

Second, upgrade the business model to achieve from“Sell Products”To“Sell Solution”The transformation.Maquet will focus on four core areas and deepen“Centering on Departments, Centering on Surgical Procedures”The overall solution layout, through in-depth cooperation with medical institutions, provides customized instrument combinations and technical services, enhancing customer stickiness.

At the same time, the company will optimize its marketing system, strengthen academic promotion and clinical training, build differentiated competitive advantages, and continuously expand its market share.

Third, enrich the product pipeline and strengthen the core competitiveness of technology.On the one hand, increase R&D investment to promote the iterative upgrading of existing products, optimize the performance of ultrasonic scalpels, improve the stapler product line, and meet personalized surgical needs; on the other hand, continue to implement the external expansion and acquisition strategy. The acquisition of Huaiyin Medical is a specific implementation of this strategy, and subsequent attention will be paid to high-quality targets to improve the product matrix.

Industry Insight: The Breakthrough Path and Integration Model of China-Made Minimally Invasive Surgery

The case of Maquet's acquisition of Huaiyin Medical is not only a milestone in the company's own development, but also provides valuable reference for China's minimally invasive surgical industry, becoming a typical example of domestic device companies breaking through and industry integration.

First, accelerate the integration of the industry.Currently, enterprises in the field of minimally invasive surgery in China are scattered and competitiveness is uneven. The acquisition of Maikewe marks the industry's transition from“Decentralized Competition”To“Integration and Upgrade”Transformation. In the future, more companies will integrate resources through mergers and acquisitions, increase industry concentration, and change the pattern dominated by foreign investment.

Second, accelerate the process of China-produced alternatives.The accumulation of Huaiyin Medical in suture products, combined with the technical advantages of Maikewe, will promote technological integration and innovation, enhance the quality and performance of domestically produced products, narrow the gap with international giants, and inject momentum into the comprehensive substitution of domestic equipment.

Third, provide a clear development path.Maquet's practices provide a clear direction: focus on core tracks, deepen technological innovation; achieve resource complementarity through mergers and acquisitions; strengthen organizational capabilities and business model upgrades, from“Product Supplier”To“Solution Provider”Transformation.

Fourth, promote the coordinated development of the industrial chain.This acquisition realizes complementary advantages of the two enterprises, promotes upstream and downstream linkage in the minimally invasive surgery industry chain, enhances supply chain efficiency, drives the coordinated development of upstream and downstream enterprises, and builds a more comprehensive industrial ecosystem.

67The change in ownership of an old medical device company is a microcosm of the development of China's minimally invasive surgical industry. As domestic newcomers like Maikewe rise, industry integration continues to deepen, and China's minimally invasive surgery sector is gradually breaking free from foreign dominance. In the future, with the implementation of three key strategies, Maikewe is expected to achieve its goal of entering the top five in the industry, and its experience will also drive more domestic device companies to innovate, contributing to the high-quality development of China's medical device industry.

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