Suzhou Rainmed Medical Technology Co., Ltd, a China-based vascular intervention robot manufacturer, has completed its initial public offering (IPO) on the Hong Kong Stock Exchange. The company’s shares (02297) were priced at HKD 6.24 each, giving it an initial market valuation of over HKD 6 billion (USD 764 million).
Company Profile
Founded in 2014, Rainmed specializes in surgical robot consoles, robotic arms, and navigation software. It integrates its caFFR, caIMR, and Flash RDN systems into its robotic platform. The firm developed a contrast-based FFR system (caFFR) and a microvascular resistance index system (caIMR), combining biofluid mechanics with medical applications.
Product Highlights
Rainmed’s angiography-based caFFR system, approved in the EU and China in late 2019, calculates FFR values using real-time imaging and computational fluid dynamics. The system requires no pressure guidewire or vasodilator, completing measurements in five minutes with over 95% accuracy.
Financials and Backing
Prior to the IPO, Rainmed received investments from Ping An Capital, Greenwoods Asset Management, Cowin Capital, Qingzhou Capital, Seresia Asset Management, and Lighthouse Canton. The company reported a net loss of RMB 51.68 million (USD 7.7 million) in 2021.-Fineline Info & Tech
