Shanghai INT Medical Instruments Co., Ltd. (INT Medical) signed a Partnership Interest Transfer Agreement on 23 July 2026 to acquire 100% of Shanghai Maoyi Enterprise Management Consulting Partnership for US$55.12 million (RMB374.30 million) in cash. The sellers are HongShan-affiliated funds HongShan Baohui, HongShan Yuechen and Taijiashan, all Independent Third Parties.
Shanghai Maoyi wholly owns Max Grand Limited, which directly holds 579,866 series B preferred shares—3.85% of Valgen Holding Corporation. The latest deal therefore values each series B share at approximately US$95.06.
Combined with two earlier transactions completed since May 2026—US$107.76 million for 23.18% of Valgen and US$10.00 million for 0.79%—INT Medical’s aggregate outlay reaches US$172.88 million (RMB1.17 billion) for a 27.82% interest in Valgen. Under Hong Kong Listing Rule 14.22, the three deals are aggregated and constitute a discloseable transaction, as the size tests fall between 5% and 25%.
Payment terms require a 20% refundable deposit within three business days of signing and settlement of the balance within 15 business days after all conditions precedent are met. The long-stop date is two months from signing. Completion remains subject to regulatory and contractual conditions.
Valgen Holding, a Cayman-incorporated parent of Hangzhou Valgen Medtech, focuses on interventional treatments for mitral and tricuspid valve diseases. Its product portfolio includes four devices approved under China’s NMPA Innovative Medical Device pathway, such as the DragonFly™ Transcatheter Mitral Valve Clip System—the first domestically approved product of its kind.
Unaudited financials show Valgen generated revenue of RMB205.88 million and net profit of RMB49.57 million in 2025, reversing a RMB40.35 million loss recorded in 2024. As at 31 December 2025, Valgen reported total assets of RMB691.61 million, total liabilities of RMB1.21 billion and net liabilities of RMB522.40 million, largely due to redemption obligations attached to preferred shares.
INT Medical stated that expanding its stake in Valgen aligns with its strategy to broaden its structural heart-disease product pipeline and strengthen competitiveness in the cardiovascular intervention market. Shareholders and investors are advised to exercise caution as the transaction’s completion is still conditional.
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