Against the backdrop of normalized centralized procurement and accelerated liquidation during the industry downturn, consolidation is emerging as a core keyword in the evolution of China's medical device industry. It is reported that since May 2026, there have been multiple mergers and acquisitions in the Chinese medical device industry, involving companies such as Eastar Medical and Da An Gene.
Recently, Eastar Medical announced that the 16th meeting of the company's fourth session of the board of directors has deliberated and approved the "Proposal on Changing the Purpose of Raised Funds". It is proposed to change the accumulated surplus raised funds of 268.6118 million yuan from the terminated "Zihang Medical Device Parts Intelligent Manufacturing and Expansion Project" to "the project of purchasing 90% equity of Wuhan Yijiabao Biomaterials Co., Ltd."
It is understood that Yijiabao possesses considerable technical expertise and market competitiveness in the fields of orthopedic implants, surgical wound care, and surgical dressings. East Star Medical stated that the change in the fundraising investment project was a prudent decision made based on changes in the market environment and adjustments to the company's development strategy, aimed at improving the efficiency of the use of raised funds. The high synergy between the two parties in business operations is conducive to the overall strategic layout and implementation of the company, enhancing asset quality and comprehensive competitiveness.
On May 15th, Guangyao Capital, a wholly-owned subsidiary of Guangzhou Pharmaceutical Group, signed a controlling interest acquisition agreement with Guangzhou Financial Holding, Guangzhou Health Industry Investment, and Guangyong Technology, with a total transaction consideration of approximately 2.418 billion yuan.
The acquisition was carried out through a combination of "equity transfer + agreement transfer". Guangyao Capital first acquired 100% of the equity of Guangyong Technology for RMB 1.51 billion, indirectly controlling 16.63% of the shares of Da An Gene. At the same time, it acquired 5% of the shares of Da An Gene held by Guangzhou Financial Holding and Guangzhou Health Industry Investment respectively for approximately RMB 908 million. After the transaction, Guangyao Capital controlled a total of 26.63% of the shares of Da An Gene, becoming the indirect controlling shareholder.
On May 11, Yingtai Medical announced that the company had acquired a 23.18% stake in Valgen Holding Corporation for a total consideration of approximately US$108 million, and had entered into share transfer agreements with the seller. Public information shows that Dejin Medical is primarily engaged in the research, development, production, and sales of interventional therapy technologies and products for valvular heart disease, especially for mitral and tricuspid valve interventions. Its self-developed DragonFly™ transcatheter mitral valve clip system is the first domestically produced transcatheter mitral valve product approved by the National Medical Products Administration.
This acquisition will provide InTec Products, Inc. with an opportunity to supplement its product pipeline in the field of structural heart disease, achieving broader product coverage in this area and enhancing the group's overall competitiveness and long-term development potential in the field of cardiovascular intervention.
Overall, the multiple acquisitions of medical devices in May 2026 collectively outline a clear path for the Chinese medical device industry to transition from its "growth phase" to a "stable phase". With the continuous deepening of the centralized procurement policy and the increasingly fierce market competition, it is expected that the next two years will also witness a peak period of industry consolidation, with resources accelerating to be concentrated in leading enterprises with core technologies, scale advantages, and channel capabilities.