Kosel Medical Acquires Baiquantong to Build an Integrated One-Stop Peripheral Vascular Intervention Platform

The history of the global medical device industry demonstrates that mergers and acquisitions are an inevitable path for the growth of industry giants. International enterprises, represented by Medtronic, have continuously consolidated their market advantages and secured positions in high-growth sectors through strategic M&A. Today, China’s medical device industry has officially entered the second half of its development, characterized by integration and collaboration.

Recently, a platform-based enterprise in the field of Chinese vascular interventional devicesKossel Medtech (Suzhou) Co., Ltd.(hereinafter referred to as“Kossel”) completed theShanghai Baiquantong Medical Technology Co., Ltd.(hereinafter referred to as“Baiquantong Medical”) strategic acquisition of the peripheral vascular interventional diagnosis and treatment business. This acquisition further enhances KosselOne-Stop Diagnostic and Therapeutic System in the Field of Peripheral Intervention，It also marks that Chinese peripheral intervention companies are progressing throughBD Strategy,Transitioning from a Technology Follower to an Ecosystem Builder，Striving for the Global High Ground.

The medical device industry is characterized by a long supply chain and numerous segments. The industry has currently entered“In a new development stage characterized by excess supply over demand, each niche sector has aggregated dozens to even hundreds of enterprises, with core technological capabilities dispersed among various market entities. Consequently, the competition and challenges in the second half of the industry’s development are more complex and severe.”Platform-based enterprises capable of spanning the entire value chain, integrating upstream and downstream resources, and ultimately achieving global development have become scarce resources in the market.

In this context, unlike innovative drugs that rely on“Blockbuster Product”-Driven BD Model. The core of medical device business development lies in creating a complete closed loop of clinical value—Equip surgical plans with a complete toolchain, especially in highly procedural specialized fields such as vascular interventional diagnosis and treatment.

Business development (BD) capabilities have become a key indicator for assessing the strategic vitality and long-term potential of vascular intervention companies. They serve as a critical link enabling enterprises to transition from internal value creation to external value realization, and represent a historic opportunity for China’s medical device industry to secure a global foothold, integrate resources, address weaknesses, and accelerate innovation. According to the "2025 White Paper on China's Health Industry," the value of merger and acquisition transactions in China’s healthcare industry reached RMB 75 billion in 2024, representing a significant year-on-year increase of 82%, a growth rate far exceeding the global annual average of 6%–10%.

It is worth emphasizing that companies should not chase trends or engage in mergers and acquisitions for the sake of it.—The core value of business development (BD) lies in strengthening and completing portfolios; it requires not only precise timing for mergers and acquisitions but also effective post-transaction asset integration. All strategic layouts must ultimately align with the fundamental clinical needs and benefit the broad patient population.

Kossel’s strategic acquisition of Baiquantong Medical is a concrete practice based on the logic of the clinical value closed loop.—It not only achieved ecological restructuring of resources in the field of peripheral interventional procedures, but also created a more comprehensive and high-quality integrated diagnostic and therapeutic solution for physicians and patients.

Compared with coronary intervention, peripheral vascular intervention involves a greater variety of vessels, more significant anatomical variations, and more diverse procedural techniques, despite having a similarly high incidence rate. No single product or technology can cover the entire diagnosis and treatment process, and the disease is characterized by complex progression and insidious early symptoms. This has resulted in an overall low penetration rate for peripheral vascular disease treatments, with clear clinical unmet needs in both peripheral arterial and venous diseases. Meanwhile, as global population aging continues to deepen and the patient base expands, the peripheral intervention market holds significant growth potential. According to Frost & Sullivan data, China’s peripheral intervention industry is still in its early stages of development, and it is projected thatThe market size is expected to exceed RMB 30 billion by 2030, with a compound annual growth rate (CAGR) of approximately 20%.

2015-2030E Market Size of Peripheral Vascular Intervention, Source: Frost & Sullivan

In the peripheral interventional diagnosis and treatment sector, characterized by a low ceiling for single-product markets but immense potential for comprehensive solution markets, enterprises can only achieve long-term development through strategic M&A, resource integration, and ecosystem building, thereby delivering superior product portfolios and more efficient diagnostic and therapeutic solutions to clinical practice.

Strong Alliance Accelerates the Implementation of Integrated Precision Diagnosis and Treatment

The competitive logic of peripheral vascular intervention is undergoing a fundamental shift: the metric for clinical value has transitioned from the performance parameters of individual products to the ability to provide support for complex procedures.“Diagnosis–Decision–Treatment” Complete Closed Loop.

Kossel’s growth trajectory precisely mirrors this industry trend.In 2013, it adopted the therapeutic end as its strategic entry point, throughOctoparms®Vena Cava Filter, K-Rhino™ Thrombus Aspiration System, Tanghulu®Tanghulu Balloonproduct portfolio, establishing advantages in the treatment of venous diseases, arteriovenous thrombus removal, and vascular preparation. The core purpose of this acquisition of Baiquantong Medical is precisely to strengthen“the critical diagnostic step of intravascular imaging”

Independently Developed by Baiquantong MedicalK-VisionMax™ Jingbao™ Disposable Peripheral Ultrasound Diagnostic Catheter and Intravascular Ultrasound Diagnostic EquipmentLeading domestically, it can present 3D images of the vascular lumen, vessel wall, and surrounding structures in real time. It has outstanding advantages in key performance parameters, clinical application scope, supply chain stability, and cost control, effectively improving the accuracy of intraoperative decision-making and enhancing long-term patient outcomes. The deep integration of diagnostic and therapeutic toolchains will further accelerate the implementation of Kossel's precision diagnosis and treatment integration.

K-VisionMax™ Jingbao™ Disposable Peripheral Ultrasound Diagnostic Catheter and Intravascular Ultrasound Diagnostic Equipment

Complementary Advantages to Enhance Full-Cycle Solutions for Peripheral Arterial and Venous Diseases

Currently, value creation in the medical device industry is shifting from single products to“Clinical Comprehensive Solutions” Accelerate Evolution. In addition toK-VIn addition to VisionMax™ and Jingbao™, Baiquantong Medical has also made in-depth strategic layouts in the fields of active and passive diagnostic and therapeutic products. Its independently developed ultrasonic vibration guidewire can efficiently recanalize chronic total occlusions (CTO) in coronary and peripheral arteries. The ultrasound therapy system for varicose veins targets a multi-billion yuan niche market, offering patients a new non-invasive treatment option. Furthermore, the company possesses a portfolio of innovative active devices, including combination ultrasound thrombolysis systems and vascular interventional surgical robots.

The aforementioned products are highly complementary to and deeply integrated with Kossel’s existing peripheral interventional diagnosis and treatment product portfolio, jointly establishing an integrated interventional solution that covers the full lifecycle of peripheral arterial and venous diseases.

# Favorable Timing, Geographic Advantage, and Human Harmony: A True Synergistic Symbiosis

This M&A Collection“Favorable timing, advantageous positioning, and strong synergy” converge to lay a solid foundation for collaborative development between both parties. In terms of timing, the peripheral intravascular ultrasound (IVUS) sector has not yet entered a stage of intense competition, leaving ample room for market expansion.Currently,K-VisionMax™ Jingbao™ Disposable Peripheral Ultrasound Diagnostic Catheter has obtained the Class III medical device registration certificate, and the intravascular ultrasound diagnostic equipment is in the process of certification, with its market value poised for concentrated release.，At this juncture, completing the merger and acquisition will maximize value creation. In terms of team alignment, Baiquantong Medical initially considered an independent development path. However, in light of industry trends and changes in the external environment, the team has chosen to embrace a larger platform, moving forward together with an open and pragmatic approach to uphold their original entrepreneurial vision and contribute to the overall progress of the industry.

The synergy among these three elements not only ensures that both companies can achieve steady and sustainable growth in the high-growth peripheral intervention sector, but also enables true collaborative innovation and ecosystem integration through the alignment of core teams and shared development philosophies, thereby maximizing the long-term value of M&A integration for corporate growth and industrial upgrading.

By extending the time horizon and broadening industry perspectives, it is not difficult to see that this merger is not an isolated case, but rather Kossel“A Dual-Engine Strategy of Independent Innovation + Ecosystem Integration”: Another Critical Validation. This path of ecosystem integration, underpinned by long-termism, was foreshadowed as early as the initial stage of the company’s development.

Reviewing Kossel’s thirteen-year development journey, its growth trajectory is clearly discernible: from early single-point innovative breakthroughs focused on vena cava filters, to the systematic construction of a platform-based layout across four major segments—peripheral intervention, electrophysiology, coronary intervention, and core raw materials; from completing its first overseas acquisition—Acquired the Irish company Micell to achieve global evidence generation and commercialization layout; and through this domestic ecosystem integration of Baiquantong Medical, strengthened the precise diagnostic capabilities of the peripheral intervention platform.

Kossel"Integrated Layout of Peripheral + Coronary + Electrophysiology + Core Raw Materials"

Currently, centralized volume-based procurement has become the new normal in the industry, with market competition returning to its value-based roots. Leveraging robust technological innovation, reliable product quality, and extensive clinical application experience, Kossel has had multiple products selected for national and local volume-based procurement programs at reasonable prices on numerous occasions.In early 2026, Kossel officially announced a deep strategic partnership with Medtronic—amid the global wave of M&A integration, Kossel is forging an industrial upgrade path centered on patients, focused on holistic solutions, and oriented toward long-term collaborative synergy.

Regarding this collaboration,KosselIt was stated that the acquisition of Baiquantong is a key move for Kossel to perfect its one-stop diagnostic and therapeutic system for peripheral interventions. By deeply integrating Baiquantong’s technological advantages in intravascular imaging with Kossel’s existing product matrix for venous and arterial diseases, Kossel has established a comprehensive solution covering the entire lifecycle of peripheral vascular disease management. In the future, Kossel will continue to adhere to“Independent Innovation + Ecosystem Integration” Dual-Wheel Drive Strategy: Advancing China’s Peripheral Intervention Industry Toward the High End of the Global Value Chain with Long-Term Strategic Commitment.

Baiquantong MedicalStatement: This collaboration with Kossel represents a significant opportunity for both parties to leverage their complementary strengths and achieve synergistic development. Baiquantong’s expertise in precision diagnostics will be deeply integrated into Kossel’s integrated ecosystem, leveraging its platform resources and innovation system to further advance the field of peripheral interventional diagnostics. Working hand in hand with Kossel, Baiquantong aims to provide clinicians with more comprehensive and precise solutions, jointly contributing to the upgrading and development of China’s vascular intervention industry.