Zhejiang-Based Batel Medical Completes Nearly RMB 200 Million Series D Funding Ahead of IPO Filing

The current aging population and the growing number of individuals with suboptimal health in modern society are driving up the incidence of vascular diseases and the volume of related surgeries, resulting in robust demand for vascular interventional medical devices. Compared to developed countries, China’s vascular intervention industry is characterized by a later start, a large existing patient base, and high growth. According to public data such as the "Report on Cardiovascular Health and Diseases in China 2024," the prevalent population of patients with vascular diseases, including coronary, peripheral, and neurovascular conditions, is approximately 76–78 million. In contrast, the volume of vascular interventional procedures in 2024 was around 3.05 million, with a procedural penetration rate of only about 4%, indicating significant potential for market expansion in pan-vascular interventions. Meanwhile, the compound annual growth rates (CAGR) of procedure volumes in sub-segments such as coronary, peripheral, and neurovascular interventions continue to maintain high double-digit growth levels of 10%–30%.

To meet rapidly growing clinical demands, the Chinese government has actively promoted centralized volume-based procurement in recent years, accelerating the availability of high-quality medical devices to a broader patient population. Leveraging its robust and continuous lean manufacturing capabilities and comprehensive vascular interventional product solutions, Barty Medical has actively participated in centralized volume-based procurement. Its existing products, including vascular access devices, balloon dilation catheters, and drug-coated balloons, have won bids in relevant centralized procurements with comprehensive advantages, achieving a 100% success rate, thereby securing a leading position in China’s peripheral vascular intervention market. For instance, introducer sheaths are essential for establishing vascular access in interventional procedures and represent a critical first step toward successful surgeries. However, this sector has long been dominated by foreign brands, and product supply security has previously been threatened by factors such as global trade disruptions and public health emergencies. With superior clinical outcomes and stable, reliable long-term supply, Barty Medical’s introducer sheath products successfully secured the top ranking in the volume-based procurement for introducer sheaths organized by the Hebei-led 27-province alliance, breaking the monopoly held by foreign brands. According to data from Frost & Sullivan, based on 2025 sales revenue, Barty Medical’s Heety® Disposable Introducer Sheath Kit ranks first among domestically produced introducer sheath brands and second in the overall Chinese market.

As the demand for diagnosis and treatment of pan-vascular diseases continues to rise, clinical vascular intervention is accelerating its development towards "intervention without implantation," precision, and systematization. However, it still faces clinical pain points and gaps that existing medical technologies cannot address, such as in-stent restenosis, in-stent thrombosis, stent migration and fracture, high incidence of flow-limiting dissections, and the inability to treat calcified lesions caused by permanently implanted drug-eluting stents. In response, Barty Medical has risen to the challenge, leading frontier breakthroughs in vascular interventional devices with its continuously improving portfolio of innovative products:

In the peripheral vascular field, Barty Medical’s flagship product, the Matrix Super PTX® Peripheral Constrained Drug-Coated Balloon, was successfully approved for market launch in July 2024. According to data from Frost & Sullivan, the Matrix Super PTX® is the second third-generation endovascular balloon product approved globally and the first such product approved in China, offering multiple benefits including controlled expansion, inhibition of hyperplasia, and prevention of restenosis and thrombosis.

Compared with previous balloon-based products, Matrix Super PTX® offers more precise lesion vessel preparation and more efficient targeted drug delivery, significantly reducing the incidence of post-procedural vascular dissection while improving clinical outcomes and procedural efficiency. Currently, this product has rapidly entered hundreds of clinical centers across China, with a monthly average implantation volume reaching hundreds of units and continuing to grow. It is gradually gaining widespread clinical recognition and has become the preferred "intervention without implant" solution in the peripheral vascular field.

In the coronary artery field, Barty Medical’s flagship innovative product—the Matrix Crush™ Constrained Drug-Coated Balloon (DCB) for Coronary Arteries—integrates a constrained balloon technology platform with blood perfusion capabilities. This innovation addresses key pain points associated with traditional drug-coated balloons, such as limited dilation time and efficacy in large coronary arteries (vessel diameter ≥2.5mm) that supply the majority of blood to the heart, as well as the high risk of flow-limiting dissections. It is the world’s first “intervention without implantation” medical device-drug combination product for de novo lesions in large coronary arteries, having completed clinical trial enrollment.The pre-market registration clinical trial for the Matrix Crush™ Constrained DCB was jointly led by Academician Ge Junbo’s team from Zhongshan Hospital Affiliated to Fudan University and Academician Wang Jian’an’s team from The Second Affiliated Hospital of Zhejiang University School of Medicine. Clinical follow-up is scheduled for completion in 2026. This registration trial employed drug-eluting stents—the gold standard therapy for de novo lesions in large coronary arteries—as the control group, making it the first third-generation drug-coated balloon product globally to be benchmarked against this gold standard. Upon successful market launch, the product is expected to revolutionize the preferred interventional treatment strategy for 70% of percutaneous coronary intervention (PCI) procedures, thereby meeting the “intervention without implantation” needs of over 10 million potential coronary heart disease patients in China.

Expanding beyond domestic borders to target the international market, Barty Medical currently exports its products to more than 40 countries and regions, with a steadily increasing proportion of overseas revenue. Particularly amid tightening global regulatory standards, Barty Medical is scheduled to obtain EU market access for its coronary drug-coated balloon Flowty™ and peripheral drug-coated balloon Egyty™ in the second half of 2026. These will be among the first drug-coated balloon products globally to comply with the European Union’s latest Medical Device Regulation (CE MDR). Leveraging these two globally leading excipient-free drug-coated balloon products, Barty Medical will establish a relatively comprehensive international product portfolio in overseas markets, further propelling Chinese innovations onto the global stage. This round of financing will also support Barty Medical in accelerating international collaborations and the accumulation of global clinical data, thereby advancing the globalization of the Barty brand.

The Chuang Dongfang Healthcare Investment Team stated, “Vascular diseases have consistently ranked among the leading causes of death, and the deepening aging of the population is driving rapid expansion in global clinical demand. Barty Medical is positioned in the high-growth sector of coronary and peripheral vascular interventions, adhering to a dual-wheel strategy of ‘strengthening the core foundation and accelerating innovation.’ At the foundational level, the company has built a comprehensive product portfolio covering ‘access establishment, lumen preparation, and implant-free intervention.’ Its flagship products have all been included in national centralized procurement programs, facilitating nationwide market access and securing a stable revenue base. On the innovation front, its independently developed constrained balloon technology platform effectively addresses the pain point of endothelial damage associated with traditional balloons, filling a critical technological gap. As innovative constrained balloon products are progressively commercialized and the benefits from centralized procurement of existing core products continue to be realized, Barty Medical is poised to enter a phase of rapid performance growth. The Chuang Dongfang Healthcare Team firmly believes in Barty Medical’s exceptional team and cutting-edge technological barriers, and looks forward to the company continuing to empower clinical practice with innovative medical devices, safeguarding the life and health of patients with vascular diseases.”

Zhongyiren Capital stated, “As cardiovascular disease poses a significant threat to the health of Chinese residents, vascular interventional devices represent a highly strategic niche sector, offering triple opportunities driven by urgent clinical demand, import substitution, and globalization. With nearly a decade of deep industry engagement, Barty Medical has achieved breakthroughs in core technologies such as constrained balloons and excipient-free drug coatings, transitioning from ‘matching competitors with superior quality’ to ‘offering unique innovations unavailable elsewhere.’ Its domestic market share for peripheral catheter sheath kits is significantly leading. Behind this impressive performance lies a team that truly understands clinical practice, manufacturing, and innovation. Zhongyiren Capital has long been deeply invested in the industrial chain of hard technology and healthcare, adhering to an empowering and responsible investment philosophy. Barty Medical is precisely the ‘pivotal’ platform enterprise we have identified. Moving forward, we will leverage Zhongyiren’s expertise in industrial resource integration and capital operations to accelerate Barty’s clinical registration, global expansion, and scaled manufacturing capabilities. We look forward to accompanying Barty Medical through its next critical growth phase, ensuring that high-quality, innovative Chinese-made medical devices truly benefit patients worldwide.”"

Liao Zhijun, Founding Partner of Junxingjian Capital, stated, “Cardiovascular and peripheral vascular intervention is a golden track with clear clinical demand and broad space for import substitution. Barty Medical, leveraging its core team with extensive industry background, has been deeply engaged in the field of vascular intervention for many years, establishing a complete product portfolio ranging from coronary to peripheral applications, and from balloons to drug-coated balloons.”,and has developed pioneering products, the first of their kind in China and even globally. Junxingjian Capital has invested in Barty Medical for two consecutive rounds, maintaining a long-term bullish outlook on Barty Medical's technical barriers and commercialization potential in the vascular interventional device sector, considering it a scarce domestic asset with“An innovative enterprise with platform capabilities for ‘intervention without implantation’.”

Zhejiang Barty Medical Technology Co., Ltd. (“Barty Medical”) is a national high-tech enterprise dedicated to the research and development, manufacturing, and sales of medical devices in the field of vascular intervention. The company’s primary business lines focus on cardiovascular and peripheral interventions. Adhering to the business philosophy of “market orientation, R&D drive, and manufacturing foundation,” Barty Medical integrates its pursuit of quality and commitment to innovation into its corporate DNA. Committed to becoming a leader in the vascular intervention sector, we continuously explore the latest medical technologies, aligning with the needs of patients, healthcare professionals, and society. We strive to transform technological advancements into innovative products and deploy them at the forefront of clinical practice, thereby supporting medical progress, facilitating professional growth for physicians, and benefiting patients, ultimately allowing medical technology to illuminate the value of life.