Riello, the parent company apparently went to a university and gave them a brief. They came up with that; large bore, no joints at all, a single extrusion.
It was after a look at the Gianonni/Sermeta and Viessmann exchangers (small bore and too complicated compared to large bore, too basic)
Extremely efficient, a competitor technical engineer said it was the most efficient on the market but if run constantly at condensing temperatures the tight heat exchanger will need a lot of servicing or block.
Remember the vast majority of people ran their systems above 70 degrees back then, that exchanger gave them great efficiency but continual running at 50 degrees will be problematic.
We always used company called Valmex in the past and they've designed the current stainless exchanger.
Italy has a huge H&V industry.