China-based Shandong Branden Medical Devices Co., Ltd has filed for an initial public offering (IPO) of 20.52 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). The listing is expected to raise approximately RMB 760 million (USD 104 million) for the company. The funds will be used to update its medical catheter industrialization project, construct a research and development (R&D) center, marketing service network, and information infrastructure, as well as to supplement working capital.
Company Background and Market Position
Branden was the first domestic company to obtain market approval in China for its Peripherally Inserted Central Catheter (PICC) products. The company has successfully replaced a portion of imported products by upgrading its offerings in terms of performance and clinical positioning. Despite facing challenges during the COVID-19 pandemic in 2020, with main business income remaining flat compared to 2019, Branden rebounded in 2021, regaining momentum in its sales as the situation improved.
Future Development Plans
With the proceeds from the IPO, Branden aims to enhance its manufacturing capabilities, strengthen its R&D efforts, and expand its marketing and service networks. The investment in information infrastructure will also support the company’s long-term growth strategy. This initiative underscores Branden’s commitment to innovation and market leadership in the medical device sector.-Fineline Info & Tech
