Int Medical Announces Acquisition of Controlling Stake in EndoNom Medtech to Expand High-Value Vascular Intervention Portfolio
INT Medical
Medical Device R&D, Production, and Sales Company
Wei Qiang Medical
Vascular Interventional Device R&D and Manufacturer
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INT Medical (01501.HK) recently announced,INT Medical has signed a letter of intent to acquire Hangzhou Wei Qiang Medical Technology Co., Ltd. and its affiliated group companies on December 18, 2024. According to the terms of the agreement, INT Medical plans to gain at least 51% controlling interest in Wei Qiang Medical through capital increase and share expansion, as well as acquiring shares from some shareholders.This 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 is required to pay an advance payment of RMB 30 million after the agreement takes effect.
Wei Qiang Medical has drawn significant attention for its exceptional product development capabilities and clinical integration expertise. Among its product portfolio, the WeFlow-Tbranch separable branched thoracic aortic stent graft developed by Professor Guo Wei from 301 Hospital, the Fabulous® stent led by Professor Fu Weiguo from Zhongshan Hospital, and the ZIPPER™ integrated aortic arch stent graft system by Professor Zhang Wei all exemplify the essence of physician-engineering collaboration and have gained widespread clinical recognition. These outstanding products not only attracted the interest of numerous investors but also sparked acquisition interest from the international giant Medtronic. However, INT Medical ultimately stood out, successfully completing the controlling acquisition of Wei Qiang Medical.
This acquisition marks a strategic transition for INT Medical from a business structure primarily focused on interventional accessories to one that encompasses higher-value medical product lines. Originally starting with traditional low-value consumables such as pressure pumps, angiographic catheters, Y-valves, angiographic guidewires, and catheter sheaths, INT Medical will further enhance its competitiveness in the high-end medical device market through the acquisition of Wei Qiang Medical. Amid the current capital winter in the medical industry, where financing has become more challenging and cash flow is critical for survival, Wei Qiang Medical opted to sell part of its equity to secure financial support after undergoing a series of capital changes. Meanwhile, INT Medical, the transformed entity from the former Shanghai INT Medical Instruments Co., Ltd., has successfully listed on the Hong Kong stock market after years of development, achieving stable profit growth. This acquisition of Wei Qiang Medical will not only provide INT Medical with additional revenue growth opportunities but also support its future plans to return to the A-share market.
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