Key Takeaways:
Medcaptain sells its life-support and testing products in more than 140 countries and regions, with strong positions in several specialist markets
More than half of its revenue comes from selling equipment used in minimally invasive interventions such as endoscopy
Judging from the vital signs, Hong Kong's biotech stocks have returned to rude health this year, buoyed by investor confidence in the sector.
And the robust rally in the Hang Seng Healthcare Index, which has nearly doubled since the start of year, has encouraged other medically focused companies to seek funding from the eager ranks of equity investors.
One such IPO candidate is a Chinese maker of medical devices that are used to provide life support for critically ill patients or to diagnose a range of health conditions. Medcaptain Medical Technology Co. Ltd. filed an application to list on the Hong Kong Stock Exchange on Sept. 11, with Morgan Stanley and Huatai International acting as joint sponsors.
Founded in 2011, Medcaptain produces various devices and related products to serve clinical needs in hospitals, outpatient clinics, health centers, laboratories and domestic care settings. Its products are grouped into three business areas: life support, minimally invasive interventions, and in-vitro diagnostics.
The first category is used in intensive care units, operating rooms and emergency departments to manage the care of seriously ill patients. The devices include infusion systems, anesthesia machines, airway management products and testing equipment for lung function. The second business segment covers the diagnosis and treatment of disorders of the digestive or urinary systems, with products such as reusable and single-use endoscopes, which are tube-mounted cameras inserted into the body to view internal organs. In its third business segment, ...
