Innovex Medical Co., Ltd, a non-vascular interventional surgery solutions provider based in Shanghai, has filed an initial public offering (IPO) with the Hong Kong Stock Exchange. The IPO is co-sponsored by Goldman Sachs and CICC. While the price has not been disclosed at this stage, the proceeds will be used for core product optimization, development and promotion, as well as research and development (R&D) investment.
Company Profile and Product Portfolio
Founded in 2009, Innovex has established a strong presence in the medical device industry. The company has 33 products with marketing approvals in China, the United States, Europe, and Japan. Its product portfolio includes 9 endoscopes and related products, 20 passive consumables, and 4 active medical devices. Innovex plans to launch another 15 products within the next two years. With a global presence covering over 60 locations, Innovex has partnerships with more than 1,500 hospitals in China.
Financial Overview
Innovex generated revenues of RMB 255 million (USD 35.1 million) in 2021 and RMB 97.8 million (USD 13.5 million) in the first half of 2022. During the same periods, R&D costs were RMB 291 million (USD 40.1 million) and RMB 63.5 million (USD 8.76 million), respectively. The IPO proceeds will support the company’s ongoing efforts to enhance its product offerings and expand its market reach.-Fineline Info & Tech
