INT Medical to Lift Valgen Stake to 23.97% via US $10 Million Follow-On Purchase

Shanghai INT Medical Instruments Co., Ltd. (INT Medical, 01501) signed a further share-transfer agreement on 25 June 2026 to acquire an additional 119,545 Series B preferred shares—equivalent to 0.79 % of Valgen Holding Corporation—from Qiming Venture Partners VI, L.P. and Qiming Managing Directors Fund VI, L.P. for US $10.00 million (RMB68.21 million).

\n\nKey transaction terms • Payment: 90 % of the consideration will be wired at closing; the remaining 10 % will be released within 10 business days after the sellers complete PRC tax-reporting obligations. • Conditions precedent include accuracy of warranties, fulfilment of covenants, receipt of all required regulatory and internal approvals, and absence of prohibitive government orders. • Long-stop date: Six months from the agreement date, extendable by mutual consent.

\n\nAggregation with May transaction • INT Medical previously purchased 23.18 % of Valgen for US $107.76 million (RMB737.79 million) on 11–12 May 2026. • Combined consideration for both tranches totals US $117.76 million (RMB806.00 million), bringing INT Medical’s shareholding in Valgen to 23.97 %. • Under Hong Kong Listing Rule 14.22, the two deals are aggregated; the resulting discloseable transaction exceeds the 5 % but remains below the 25 % percentage ratio threshold, requiring announcement but not shareholder approval.

\n\nValgen snapshot (unaudited) • 2025 revenue: RMB205.88 million • 2025 net profit: RMB49.57 million (2024: RMB40.35 million loss) • 31 Dec 2025 total assets: RMB691.61 million • 31 Dec 2025 net liabilities: RMB522.40 million, driven mainly by redemption obligations attached to preferred shares. Valgen Medtech, the operating arm, has four NMPA-cleared innovative devices, including DragonFly™—China’s first domestically approved transcatheter mitral valve clip system.

\n\nStrategic rationale INT Medical aims to broaden its cardiovascular-intervention portfolio—especially in structural heart disease—by progressively consolidating its position in Valgen. The board views the price, set with reference to the sellers’ investment cost and Valgen’s financials, as fair and commercially consistent with the earlier Series B transfer.

\n\nNext steps Completion hinges on satisfaction or waiver of all conditions precedent. INT Medical will issue further announcements if additional consideration becomes payable or if subsequent stake increases trigger higher Listing Rule thresholds.