China’s med-tech products exports declined in 2021 as manufacturing in other countries picked up, while med-tech imports to the country increased. In the first half of 2021, China’s med-tech exports amounted to $47.931 billion, a decrease of 23.1% year-on-year. But imports for the same period amounted to $24.392 billion, an increase of 25.2% year-on-year, according to med-tech data company Guangzhou Joinchain Big Data Technology Co. Ltd.
With the U.S. Securities and Exchange Commission (SEC) and Cyberspace Administration of China (CAC) imposing stricter regulatory requirements on listing companies, more Chinese companies are likely to decide to list on stock exchanges closer to home.
Venus Medtech (Hangzhou) Inc. reported it has acquired 100% equity interest and corresponding equity in Cardiovalve Ltd. for $300 million. Or Yehuda, Israel-based Cardiovalve produces the Cardiovalve system, a transcatheter interventional replacement product for mitral or tricuspid regurgitation.
With large amounts of cash in hand from exponentially higher sales related to COVID-19, some Chinese med-tech companies are now implementing plans to continue growing in a post-pandemic world.
Shanghai Aohua Photoelectricity Endoscope Co. Ltd. was listed on the Shanghai Stock Exchange Star Market in China on Nov. 15, with the share prices jumping 71.16% on the first day. Aohua Endoscopy offered 33.34 million shares at ¥22.5 (US$3.53) per share. It raised ¥750 million in this IPO, higher than projected ¥640 million it projected to raise.
A successful fundraising round by a Chinese surgical robot developer last week underscored the potentially fast growth of a sector that remains underdeveloped in China. Chinese surgical robot company Edge Medical Robotics Co. Ltd. raised $200 million in a series C round, and plans to use the funds for the commercialization of its core products.
Beijing Airdoc Technology Co. Ltd. raised HK$1.67 billion (US$214.8 million) with its IPO on the Hong Kong Exchange (HKEX) on Nov. 5, falling below its expectations of a $500 million raise. Share prices for the artificial intelligence-based (AI) medical imaging firm were priced at HK$75.10 apiece and dropped 3.5% to HK$72.50.
