SoftBank-Backed Robot Surgeon Eyes Hong Kong Market
A robot surgeon backed by SoftBank plans to sell shares to raise $100 million...
SoftBank-backed surgical robotics firm Noah Medical is preparing for a Hong Kong IPO to raise over US$100 million, with a filing possible as early as next year. Founder Zhang Jian said the company wants to expand in mainland China, making Hong Kong the natural listing choice. Noah Medical plans to sell its surgical robots in mainland cities including Hangzhou, and counts Sir Run Run Shaw Hospital as a target customer after regulatory approval last November. In Hong Kong, Prince of Wales Hospital has already bought its equipment. The US-headquartered firm currently earns 90% of its revenue in the US, where its robots have treated about 15,000 patients.
- Noah Medical, a robot-surgery firm backed by SoftBank, plans a Hong Kong stock listing to raise over US$100 million.
- The cash will fund expansion in mainland China, where it already treats 15,000 patients a year with its machines.
- Hospitals in cities like Hangzhou and Hong Kong have already bought or approved the robots.
Why It Matters
Robots may soon perform more surgeries in China, potentially improving care and hospital efficiency.