SWS Medical

What SWS Medical does

SWS Medical (SWS Hemodialysis Care Co., Ltd.) is a Chongqing-headquartered medical device company founded in 2001 that designs, manufactures, and sells blood purification equipment — including hemodialysis machines (SWS-4000 and SWS-6000 series), continuous renal replacement therapy systems (SWS-5000 series), and a full line of dialysis consumables. The company is publicly listed on the Shanghai Stock Exchange STAR Market (SSE: 688410) and operates three vertically integrated subsidiaries: TWT Bio-tech (consumables), SD Medical (a SINO-Swiss joint venture with Dialife SA producing steam-sterilized dialyzers), and KMJ Dialysis (operating a chain of 9 dialysis centers in Chongqing).

Its products are deployed across 8,000+ healthcare facilities in 100+ countries, backed by an installed base of 40,000+ devices, EU MDR certification, CE marking, and ISO 13485 compliance. Revenue is generated through a hybrid model combining one-time equipment sales, recurring consumables pull-through (dialyzers, blood lines, concentrates), managed dialysis center services via KMJ, and subscription-based intelligent dialysis management software with IoT remote monitoring.

SWS holds 158 patents including 50 invention patents and has contributed to 3 national and 5 industry standards for blood purification in China. The company employs 1,200+ people and commands an estimated 15.9% domestic market share in China, with the No. 1 position in domestic CRRT equipment as of 2025 and exports representing approximately 50% of dialysis machine sales in 2024.

Name

SWS Medical

Legal name

SWS Hemodialysis Care Co., Ltd.

Website

https://swsdialysis.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

SWS Medical is a Chinese medical device company (Shanghai STAR Market: 688410) that manufactures hemodialysis and CRRT machines plus dialysis consumables, selling to hospitals and dialysis centers across 100+ countries through equipment sales, consumables, and managed services.

Ownership category

akta.pro rank

Product category

Blood Purification Medical Devices

NAICS

Kidney Dialysis Centers (621492), Measuring, Dispensing, and Other Pumping Equipment Manufacturing (333914)

SIC

Surgical & Medical Instruments & Apparatus (3841), Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047), Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Hemodialysis Machines & Systems (HLAHAKAA)

akta.pro secondary industries

Renal Replacement Therapy Consumables (Bloodlines, Filters, Cartridges) (HLAHAKAH), Dialysis Services (Hemodialysis & Peritoneal Dialysis) (HLAKAHAC), Dialysis Water Treatment & Dialysate Delivery Systems (HLAHAKAD)

Keywords

• Hemodialysis equipment
• Blood purification devices
• CRRT systems
• Dialysis consumables
• Renal care solutions

Headquarters

HQ city

Yubei

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Blood Purification Equipment Sales: Sale of hemodialysis machines (SWS-4000, SWS-6000 series) and CRRT equipment (SWS-5000 series) to hospitals and clinics globally. Major revenue stream with significant domestic China market share (15.9% in 2024, 20% in Q3 2024) and growing international exports accounting for nearly 50% of dialysis machine sales in 2024.
2. Dialysis Disposables and Consumables: Sale of consumables including dialyzers (SD-LF, SD-HF series), dialysate filters, hemoperfusion cartridges, dialysis tubing, dialysis powder/liquid, puncture needles, and disinfectants. Produced by TWT Bio-tech subsidiary.
3. Chain Dialysis Center Operations: Operation and management of chain dialysis centers through KMJ subsidiary. Currently operates 9 centers in Chongqing managed according to national blood purification standards and US AAMI standards.
4. Intelligent Dialysis Management System: Software and system services for dialysis center management including patient management, shift scheduling, equipment maintenance, and data analytics. Part of comprehensive blood purification integrated solutions.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

SWS Medical researches, develops, manufactures and sells blood purification equipment (hemodialysis machines in the SWS-4000 and SWS-6000 series, and CRRT/multi-organ blood purification systems in the SWS-5000 series), along with a full range of dialysis consumables (dialyzers, dialysate filters, hemoperfusion cartridges, tubing, and concentrate solutions). It complements this hardware portfolio with the Dialysis Center Intelligent Management System (internet-based smart management software) and operates chain dialysis centers through its KMJ subsidiary, delivering an integrated blood purification solution to hospitals and renal-care providers in 100+ countries.

Product overview

SWS Medical provides a comprehensive integrated blood purification solution portfolio comprising three core equipment lines: the SWS-4000 (economical hemodialysis), SWS-6000 (intelligent hemodialysis with real-time monitoring), and SWS-5000 (CRRT/multi-organ support). These are complemented by TWT Bio-tech produced consumables including dialyzers, dialysate filters, hemoperfusion cartridges, and concentrate solutions; SD Medical (SINO-Swiss JV) manufactured dialyzers using steam sterilization; the Dialysis Center Intelligent Management System (internet-based smart management platform with 8 functional modules); and KMJ-operated chain dialysis centers. The full industrial chain spans equipment, consumables, software, and operational services for renal and critical care applications.

Differentiator

Problem solved

Functional benefit

Brands

• SWS-4000 Series: Hemodialysis machine series featuring Online HDF system for personalized, on-demand sterile fluid production. Cost-effective professional care solution.
• SWS-5000 Series
• SWS-6000 Series
• SD Series Dialyzers
• TWT Bio-tech
• Intelligent Dialysis Management System

Products and services

• SWS-4000 Series Hemodialysis Machine Economical professional hemodialysis machine supporting HD, HF, HDF and IUF therapies with multiple profiles, real-time monitoring, and Online HDF system for on-demand sterile replacement fluid production; exported to nearly 90 countries and used in tertiary hospitals globally.
• SWS-6000 Series Hemodialysis Machine Intelligent hemodialysis machine with real-time monitoring of blood pressure, blood volume, temperature and online clearance rate; the only dialysis machine in China with certified treatment parameter monitoring, automated heparin injection, and integrated online HDF therapy system.
• SWS-5000 Series CRRT System Award-winning all-in-one multi-organ blood purification platform supporting kidneys, heart, liver, lungs and pancreas, with 14 therapy modes including CRRT and TPE (Therapeutic Plasma Exchange) for critically ill ICU patients.
• Dialysis Center Intelligent Management System Internet+ smart hemodialysis management system integrating dialysis centers, equipment, consumables, medical care and patients, with 8 functional modules covering patient management, shift organization, equipment maintenance and consumables management, plus UDI tracking, remote O&M and big-data analytics.
• Chain Dialysis Centers Network of dialysis centers operated through the KMJ subsidiary, providing standardized dialysis services under national blood purification standards and US AAMI standards; currently 9 operational centers in Chongqing.
• SD-LF and SD-HF Dialyzers Dialyzers produced by the SD Medical SINO-Swiss JV using steam sterilization technology and PES membrane with patented Active Surface Method (A.S.M.) technology, providing superior biocompatibility and stability versus competing brands.
• TWT EF210 Dialysate Fluid Filter High-performance dialysate fluid filter produced via steam sterilization with PES membrane, improving molecular clearance and biocompatibility, using imported assembly line and four Hansen connectors.
• TWT TN Series Disposable Hemoperfusion Cartridge Disposable hemoperfusion cartridge with coated absorbent granules providing better biocompatibility, specific surface area >1000m²/g, spherical housing for uniform blood flow, secondary cross-linking technology, and steam sterilization.
• TWT-F Concentrate Powder Dialysis concentrate powder with carefully selected raw materials and special control node management ensuring purity from first drop through to finished product.
• TWT-Y Concentrate Fluid High-precision dialysis concentrate fluid produced using advanced sterilization technique and full-process purification.

Quantifiable outcome

• 20% market share for hemodialysis machines in China (Q3 2024)
• +4 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Nine partnerships are on record, tiered minor, major and core.

• Middle Eastern Medical ProviderminorStrategic or Co-development Partner · 1 February 2026Signed MOU for strategic cooperation with Middle Eastern medical provider at WHX Dubai 2026, signaling expansion in healthcare innovation in the Middle East region.
• China International Pharmaceutical and Health Corporation (Sinopharm)majorStrategic or Co-development Partner · 1 March 2025Coordinated with Sinopharm for Belarus delegation visit and market expansion discussions. Sinopharm reaffirmed commitment to fostering cross-border healthcare cooperation between China and Belarus.
• Guizhou Medical University Affiliated HospitalminorStrategic or Co-development Partner · 1 January 2025Chinese medical team partnership for China-aid Comprehensive Medical Centre in Solomon Islands. Provided training and established foundation for renal care with single device and local staff training.
• Belarusian Government (Ministry of Health)minorStrategic or Co-development Partner · 1 January 2024Welcomed Belarusian delegation including Minister-Counselor of Belarusian Embassy in China and Ministry of Health's Scientific and Practical Center representatives to discuss expanding access to advanced dialysis technologies in Belarus.
• Dialife SA (Switzerland)majorStrategic or Co-development Partner · 1 January 2017SINO-Swiss joint venture establishing SD Medical for production of world-class dialyzers. SD Medical is first company in China to use steam sterilization technology in dialyzer production with imported Swiss automated production line.
• Nanotech Inc. (India)majorChannel Partner/ Reseller/ Distributor · 1 January 200618-year partnership distributing SWS dialysis machines across India. Began with first SWS dialysis machine exported internationally to India. Installed hundreds of dialysis machines improving lives of countless patients in India.
• TWT Bio-tech (Subsidiary)coreOthersWholly-owned subsidiary (Chongqing Tianwaitian Biotechnology Co., Ltd.) dedicated to R&D and production of dialysis consumables including dialyzers, hemoperfusion cartridges, dialysis tubing, and dialysate products.
• KMJ Dialysis Co., Ltd. (Subsidiary)coreOthersWholly-owned subsidiary operating chain dialysis centers in Chongqing. Currently operates 9 centers according to national blood purification standards and US AAMI standards.
• SD Medical (SINO-Swiss JV)coreOthersJoint venture with Swiss company Dialife SA specializing in production of world-class dialyzers using steam sterilization technology.

Scale indicators23 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Fresenius Medical Care: Global leader in dialysis products and services. Directly comparable as the dominant supplier of hemodialysis machines, dialyzers, and CRRT equipment, and operator of the world's largest dialysis center network — competing head-to-head with SWS in international tenders.
• Asahi Kasei Medical: Global leader in dialyzer membranes and a major supplier of dialysis consumables (e.g., APS, REXEED series). Comparable to SWS's SD Medical and TWT Bio-tech dialyzer businesses, especially in Asia and Latin America.
• Nikkiso: Japanese manufacturer of hemodialysis machines (DBB series), CRRT equipment, and dialysis consumables. Direct competitor in CRRT and HD equipment, particularly in Asia-Pacific and emerging markets where SWS is also active.
• Baxter International (Vantive): Major global dialysis equipment and consumables manufacturer (home and in-center hemodialysis, CRRT, peritoneal dialysis) following the Vantive kidney-care spin. Comparable across the same hemodialysis machine and CRRT product categories as SWS.
• B. Braun: German medical device company with a substantial hemodialysis and CRRT portfolio (Dialog+, Omni). Directly comparable product line and competes with SWS in Europe, Latin America, and emerging markets.
• Nipro Corporation: Japanese medical device company producing hemodialysis machines, dialyzers, and dialysis tubing. Direct competitor across SWS's equipment and consumables portfolio, with strong presence in emerging markets.
• Jafron Biomedical: Chinese blood purification specialist and the closest domestic peer to SWS, focused on hemoperfusion cartridges and adjacent blood purification consumables. Competes directly with TWT Bio-tech's hemoperfusion and dialyzer lines and is a fellow Chinese exporter.
• Toray Medical: Manufacturer of high-performance dialyzers (e.g., TS series) with significant global market share. Direct competitor to SWS's SD Medical and TWT Bio-tech dialyzer consumables business, particularly in Asia-Pacific and Europe.

Emerging players

• Outset Medical: US-based innovator of the Tablo in-center and home hemodialysis system with connected data platform. Comparable in CRRT-adjacent critical care dialysis and in SWS's intelligent management software direction; represents the connected-home dialysis trend SWS has not yet entered.

Broad incumbents

• Diaverum: Global dialysis services provider operating hundreds of centers across Europe, Latin America, Asia, and Middle East. Comparable to SWS's KMJ chain dialysis center operations and a likely customer for SWS equipment in emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds5 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SWS Medical