Zylox-Tonbridge Medical Technology has agreed, through a vehicle it will own 60% of, to subscribe for new shares equal to about 16.7% of LifeTech Scientific for about HK$1,482.1m, the Hong Kong-listed company said on 6 November 2026.
Why Zylox-Tonbridge Medical Technology Co., Ltd. (with GL Capital via GL Lighthouse Two) is buying LifeTech Scientific Corporation (c.16.7% stake via new shares)
Zylox-Tonbridge said the deal would help establish a leading Chinese vascular intervention platform spanning neurovascular, peripheral vascular, aortic and structural heart disease intervention, and strengthen its position at home and abroad. It said it may consider raising its stake in LifeTech in the future if market conditions permit.
Deal terms and financing
Lighthouse SPV will subscribe for 926,342,480 new LifeTech shares at HK$1.60 each in two tranches. Zylox-Tonbridge will pay about HK$889.3m for 60.0% of the vehicle. Separately, GL Lighthouse Three will subscribe for new Zylox-Tonbridge H shares at HK$22.0 each, a 13.5% premium to the 6 November close, for gross proceeds of about HK$875.6m; GL Capital entities are expected to become substantial shareholders of Zylox-Tonbridge.
Regulatory approvals and timing
The transactions are discloseable for Zylox-Tonbridge and do not need its shareholders' approval. The first tranche needs Hong Kong listing approval for the new LifeTech shares; the second needs Chinese outbound direct investment filings with the NDRC, MOFCOM and SAFE and a merger control decision from the State Administration for Market Regulation.
Market context
Chinese media reported that the vehicle would become LifeTech's single largest shareholder and that the two companies hope to pursue a merger in future. LifeTech reported falling revenue and a net loss in the first half of 2026, according to the same reports.
