China-based LEPU ScienTech Medical Technology (Shanghai) Co., Ltd is gearing up for an initial public offering (IPO) on the Hong Kong Stock Exchange. The company plans to issue 22.46 million shares at a price range of HKD 29.15 (USD 3.71) to HKD 31.45 (USD 4.01) per share, potentially raising up to HKD 706 million (USD 90 million). The IPO, sponsored by CICC, is slated for completion on November 8, 2022. Proceeds will be allocated to research and development (R&D), sales and marketing, production capacity expansion, and strategic investments or acquisitions.
Focus on Structural Heart Disease Solutions
A spin-off of Lepu Medical Technology (Beijing) Co., Ltd (SHE: 300003), ScienTech Medtech specializes in the development, manufacturing, and commercialization of interventional medical devices for structural heart disease. The company’s product portfolio includes 20 marketed occluder products, 9 occluder products in development, and 21 major cardiac valve products under development. In 2021, it held a 38.0% market share in China for congenital heart disease occluder products and related surgical accessories, solidifying its position as the largest manufacturer in this segment.
Financial Performance and Growth Prospects
ScienTech Medtech reported revenues of RMB 148 million (USD 20.4 million), RMB 223 million (USD 30.8 million), and RMB 125 million (USD 17.2 million) for 2020, 2021, and the first half of 2022, respectively. Net profits for the same periods were RMB 68.77 million (USD 9.5 million), RMB 58.70 million (USD 8.1 million), and RMB 24.26 million (USD 3.3 million). Despite fluctuations, the company’s strong product pipeline and market leadership underscore its growth potential.-Fineline Info & Tech
