Zylox-Tonbridge Medical Technology and GL Capital will jointly invest approximately HK$1.48bn ($189m)in LifeTech Scientific, with the former also seeking a potential merger between the two medical device manufacturers.
The investment marks a significant step toward creating an integrated platform for vascular and structural heart interventions in China.
It will proceed via GL Lighthouse Two Investment, an entity 60% owned by Zylox-Tonbridge through an approximate HK$889m commitment.
Under the terms of the transaction, Lighthouse Two will subscribe for newly issued shares representing around 16.7% of LifeTech’s enlarged share capital.
In an associated transaction, GL Capital will purchase 39.8 million newly issued shares in Zylox-Tonbridge at HK$22 per share, equivalent to roughly 10.8% of the company’s enlarged share capital.
The subscription price is 13.5% above the closing price on the announcement date and represents a 15.4% premium to the preceding five-day average closing price.
Zylox-Tonbridge plans to use the proceeds for international commercial growth and potential future investments in LifeTech.
Zylox-Tonbridge chairman Dr Jonathon Zhong Zhao said: “With our established operating capabilities and expanding global presence, we see significant opportunities to capture synergies, strengthen our competitiveness and advance our growth as a global medical technology company.”
The transaction unites Zylox-Tonbridge’s peripheral vascular and neurovascular operations with LifeTech’s aortic and structural heart businesses.
During the first half of 2026, the company achieved a 349.3% year-on-year (YoY) revenue increase from markets outside Mainland China.
In 2025, LifeTech generated approximately 400m yuan from international markets, up around 14.4% year on year and representing near 30% of its total revenue, with Asia and Europe serving as primary contributors.
Its portfolio features an iron-based bioabsorbable material technology platform.
Zylox-Tonbridge, which markets devices through Tonbridge Medical and Zylox Medical, held 69 Chinese regulatory approvals by August 2026 and supplies over 3,500 domestic hospitals.
