US-based surgical robotics firm Noah Medical eyes Hong Kong IPO
Company plans to raise over US$100 million to fund expansion into mainland China
Quick Look
- US-based Noah Medical, a surgical robotics company, plans to raise over US$100 million and pursue a Hong Kong IPO by next year to support expansion into mainland China.
- The firm has already deployed equipment in Hong Kong's Prince of Wales Hospital.
AI-generated summary
Why It Matters
Noah Medical is a US-headquartered surgical robotics firm currently generating 90 percent of its revenue in the United States.
The US-headquartered company aimed to raise more than US$100 million and planned to file its listing application as early as next year, according to founder Zhang Jian.
“We want to expand our business in [mainland] China, and Hong Kong – as an international financial centre with a globally recognised stock exchange – is the natural choice for our listing,” Zhang said in an interview on the sidelines of MedTech World Asia in Hong Kong on Thursday.
Sir Run Run Shaw Hospital is a target customer, following regulatory approval from China’s drug regulator in November last year.
In Hong Kong, Prince of Wales Hospital had purchased Noah Medical’s equipment, Zhang said.
Currently, 90 per cent of the company’s revenue is generated in the United States, where surgical robots have treated about 15,000 patients.
What to Watch
AI outlook — possibilities, not facts
Noah Medical to file listing application in Hong Kong
Likely · Within months
Open Questions
- What is the exact timeline for the IPO filing?
- Which specific underwriters will manage the listing?
