By Fineline Cube 
China-based Bayzed Health Group Inc. (HKG: 2609), a private healthcare provider specializing in oncology, has commenced its initial public offering (IPO) of 133 million shares on the Hong Kong Stock Exchange. The offer price is set between HKD 4.22 (USD 0.54) and HKD 6.75 (USD 0.86) per share, with CMB International acting as the sole sponsor.
Company Overview
Bayzed Health operates eight hospitals across Beijing, Tianjin, Shanxi, Anhui, and Henan through direct ownership or management agreements. The company offers comprehensive cancer care services, including screening, diagnosis, treatment, and rehabilitation. Its flagship facility is the Western Beijing Cancer Hospital.
Financial Performance
The company reported revenues of RMB 803 million (USD 112 million) in 2022, RMB 1.072 billion (USD 149 million) in 2023, and RMB 1.189 billion (USD 166 million) in 2024, achieving a compound annual growth rate (CAGR) of 21.7%. Gross profit increased from RMB 80 million (USD 11 million) to RMB 208 million (USD 29 million) over the same period, with a CAGR of 61.8%. Revenue primarily comes from self-operated hospital services, hospital management fees, and sales of pharmaceuticals and medical equipment.
IPO Proceeds and Allocation
Net proceeds from the IPO are estimated at HKD 623.6 million (USD 79.4 million). These funds will be allocated to enhancing medical service capabilities, hospital acquisitions, expanding hospital management operations, upgrading IT systems, and supplementing working capital.-Fineline Info & Tech