Yintai Medical Announces Major Acquisition of Hangzhou Weiqiang Medical to Expand in Vascular Intervention

May 22, 2025 17:55 CST Updated 17:56

INT Medical

Medical Device R&D, Production, and Sales Company

Wei Qiang Medical

Vascular Interventional Device R&D and Manufacturer

Instrument Family

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Recently, under the Condera GroupShanghai INT MedicalIt was announced that the company, along with Chen Yue Weixin and other relevant parties, entered into a formal acquisition agreement to acquire 81.83% of the equity in the target company (Hangzhou Wei Qiang Medical Technology Co., Ltd.) for a total consideration of approximately 513 million yuan.INT Medical will acquire 51.70% of the controlling interest in the target company for a consideration of approximately 324 million yuan.

It is understood that,INT Medical signed a letter of intent to acquire Wei Qiang Medical and its affiliated group companies on December 18, 2024.At that time,The transaction also stipulates that INT Medical will inject no less than RMB 200 million in new funds into Wei Qiang Medical after the completion of the acquisition, and a prepayment of RMB 30 million must be made after the agreement takes effect.

It is worth mentioning that,This transaction marks a crucial step in INT Medical's strategic layout in the fields of aortic and peripheral vascular intervention., while also injecting new vitality into the development of China's vascular interventional device industry.

Join Hands with Chen Yue Innovation

Acquisition of 81.83% Equity in Wei Qiang Medical

According to the announcement,INT Medical to Pay Approximately RMB 3.24 Billion for 51.70% Controlling Stake in Wei Qiang Medical, While Chen Yue Weixin to Acquire the Remaining 30.13% Equity.After the transaction is completed, Wei Qiang Medical will become a non-wholly owned subsidiary of INT Medical. Both parties will further inject no less than 150 million RMB into the target company to support its product development and market expansion.

The core logic of this acquisition lies in product synergy and market complementarity.Wei Qiang Medical has deep technical accumulation in the fields of aortic stent grafts and peripheral vascular interventional devices.Its product line is highly complementary to INT Medical's interventional accessories business.

For example, Wei Qiang Medical's WeFlow-Tbranch Detachable Branched Thoracic Aortic Stent Graft (developed by Professor Guo Wei's team from 301 Hospital) and Fabulous Stent (led by Professor Fu Wei's team from Zhongshan Hospital) have achieved significant results in clinical applications in China. Meanwhile, INT Medical’s advantages in low-value consumables such as pressure pumps and angiographic catheters provide room for both parties in supply chain integration and cost control.

Moreover, although Wei Qiang Medical's financial status is in a loss (with an after-tax net profit of -RMB 58.25 million in 2024), its R&D capabilities and product pipeline layout are regarded by INT Medical as having "strategic value far exceeding short-term financial performance." The board believes,This acquisition will significantly enhance INT Medical's competitiveness in the high-end medical device market and provide support for its future return to the A-share market.

The Transformation Path from Low-Value Consumables to High-End Interventions

INT Medical, formerly known as Shanghai Kangerdelai Medical Instruments Co., Ltd. established in 2006, was listed on the Main Board of the Hong Kong Stock Exchange in 2019. The company initially focused on interventional accessories (such as inflation devices, angiography catheters, Y-connectors, etc.) and gradually built a product portfolio covering multiple fields including cardiovascular, neurology, and peripheral interventions.

In the field of cardiovascular intervention, INT Medical has achieved its goals through acquisitions and independent research and development,Launched multiple coronary interventional devices, including catheter sheaths and angiographic guidewires., and gradually extend to innovative products such as absorbable stents.

In the field of peripheral interventionsIn 2018, the company established a controlling subsidiary, Shanghai Qimu Medical Device Co., Ltd., which focuses on the research and development of peripheral vascular interventional devices.Product line covers balloon dilation catheters, vascular foreign body retrieval devicesetc.

In the fields of urological intervention and neurointerventionIn 2021, INT Medical entered the field of urological interventions by establishing a wholly-owned subsidiary, Shandong INT Medical Instruments Co., Ltd. In 2022, it founded Shanghai INT Biotechnology Co., Ltd. to expand into neurointerventional devices.

As of the end of 2024,INT Medical's revenue reached 852 million RMB, with a total profit of 213 million RMB, and a workforce of over 1,700 employees.The company holds more than 215 patents and 68 trademarks, maintaining stable growth in the Hong Kong stock market. This acquisition of Wei Qiang Medical is considered by the industry as an important milestone in its transformation from low-value consumables to high-value medical product lines.

Innovative Benchmark of Medical-Engineering Integration

Data shows,The acquired party, Wei Qiang Medical, was established in 2016 and focuses on the research and development, manufacturing, sales, and technical support of peripheral vascular interventional medical devices.The company takes "the combination of medical and engineering" as its core strategy, and has launched a series of innovative products with independent intellectual property rights in cooperation with many top hospitals and expert teams in China.

Its core product lines and technical advantages mainly includeAortic Stent Graft System,Peripheral Vascular Intervention Devices andVenous interventional devices.Among them, the aortic stent graft system: including the WeFlow-Tbranch separable branched thoracic aortic stent graft, Fabulous stent, etc., is suitable for the treatment of complex diseases such as aortic dissection and aortic aneurysm.

Peripheral vascular interventional devices such as the VaSabre peripheral balloon dilation catheter and the VSnare™ vascular foreign body retrieval device, cover indications including lower extremity arteriosclerosis obliterans and deep vein thrombosis.

In 2024, Grency® Iliac Vein Stent, independently developed by Wei Qiang Medical, was approved for marketing by the National Medical Products Administration, becoming the first stent product in China specifically designed for the iliac vein.

In addition,Wei Qiang Medical has more than 330 patent applications (including 110 invention patents and 55 PCT applications),And has established long-term cooperative relationships with top medical institutions in China, such as 301 Hospital, Zhongshan Hospital, and Zhongshan Hospital Affiliated to Fudan University.

It should be noted that, despite Wei Qiang Medical's significant achievements in technology development, its financial situation still faces pressure.In 2024, the company's net asset value was -61.48 million RMB, and the net profit after tax was -58.25 million RMB.Against this backdrop, cooperation with INT Medical can not only secure financial support but also leverage its mature sales channels and supply chain system to accelerate the commercialization process of products.

China's Vascular Intervention Market Sees Rapid Growth

Data shows that in recent years, the market for vascular interventional devices in China has maintained rapid growth. According to statistics,The市场规模 of China's cardiovascular interventional devices reached 57.29 billion RMB in 2024, with a compound annual growth rate of 13.1% from 2017 to 2024.

The market size of endovascular interventional devices for the aorta is approximately 3.842 billion RMB, with a compound annual growth rate (CAGR) of 15.69% from 2017 to 2024; the market size of peripheral vascular interventional devices has reached 7.671 billion RMB, but the localization rate in China remains low, mainly dominated by multinational companies such as Boston Scientific and Medtronic; the market size of neurointerventional devices is about 12.325 billion RMB, which is still in its early stage of development, while domestically produced enterprises are gradually emerging.

With the increasing support from the state for medical device innovation, the market share of Chinese-produced enterprises in the fields of aortic and peripheral vascular intervention continues to rise. Enterprises represented by companies such as Shanghai INT Medical Instruments Co., Ltd. and Xianjian Medical have achieved technological breakthroughs in certain niche areas.

Following the completion of this acquisition,INT Medical will also integrate Wei Qiang Medical's technical advantages with its own resources in the supply chain and sales channels to accelerate its layout in the aortic and peripheral vascular intervention fields.With the aggravation of population aging, the upgrading of medical needs, and the increasing support from the state for high-end medical devices, local enterprises are expected to achieve a leap in this field from "following" to "running side by side" and even "leading". The cooperation between INT Medical and Wei Qiang Medical will undoubtedly inject new momentum into this process. In this regard, Instrument Family will continue to follow up and report.

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