Hillhouse Capital-backed medical device company Peijia Medical goes public

Peijia Medical (09996-HK), an interventional medical device company, is listed on Hong Kong Stock Exchange with an opening price of 26.8 yuan, up more than 70%.

Peijia Medical (09996-HK), an interventional medical device company, is listed on Hong Kong Stock Exchange with an opening price of 26.8 yuan, up more than 70%.

The prospectus shows that the joint sponsors for the Hong Kong stock declaration are Morgan Stanley and Huatai International. Founder and CEO Zhang Yi holds 30.93%, Matrix Partners China and Hillhouse Capital, which are the top two institutional investors, hold 10.07% and 9.33% respectively. And the managing director of Matrix Partners China, Yu Zhiyun serves as a non-executive director.

The total fundraising amount is expected to be 300 million US dollars.

Proceeds from Peijia Medical’s IPO will be mainly used to develop and commercialize the company’s core product TaurusOne®, provide funding for clinical trials, registration and filing, and potential commercialization of other major products under research, strengthen R&D capabilities, and use it for potential strategic acquisitions.

Established in 2012, Peijia Medical is a medical device R&D and production enterprise founded by senior R&D and management teams from the US and Chinese medical device industries. The company focuses its business on the development of medical devices for heart diseases and neurovascular diseases.

The core team is composed of highly sophisticated talents in the cardiovascular device industry. Dr. Zhang Yi, founder of Pejia Medical, has over 20 years of industry experience in the cardiovascular sector.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/23/hillhouse-capital-backed-medical-device-company-peijia-medical-goes-public/.

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