Noah Medical Plans Hong Kong IPO to Support Expansion in Mainland China
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- SCMPTech
Noah Medical, a surgical robotics firm backed by SoftBank, is preparing to file for a Hong Kong listing as early as next year. The company aims to raise over $100 million to bolster its expansion efforts in mainland China. Founder Zhang Jian emphasized that Hong Kong's status as an international financial center makes it an ideal location for their listing.
The move is significant as Noah Medical seeks to tap into the growing demand for surgical robotics in China. With regulatory approval from China's drug regulator obtained in November, the company is targeting hospitals such as Sir Run Run Shaw Hospital for its products. Currently, 90% of Noah Medical's revenue comes from the U.S., where its surgical robots have successfully treated around 15,000 patients.
Looking ahead, the company’s listing could provide the necessary capital to enhance its market presence in China. No further timeline was disclosed at the time of publication.
Original report
SoftBank-backed surgical robotics firm eyes Hong Kong listing to power mainland China push
SCMPTech · Julie ZhangThis briefing is an independently written summary based on publicly available reporting and is provided for industry information and news discovery. The original report and source publication are credited and linked where applicable. RobotToday does not claim ownership of third-party source material.
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