Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By


Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

China Kanghui Holdings IPO: Chinese orthopedic implant maker goes public Aug. 10 through a $68.4 million initial public offering comprised of about 6.68 million American Depositary Shares (ADSs) priced at $10.25 each, including 5.34 million ADSs offered by the company and 1.34 million ADSs offered by selling shareholders. Based in Changzhou, the firm primarily offers trauma and spine orthopedic implants for use in China, reporting 2009 sales of $27 million, up 32% from the prior year. Estimated IPO proceeds to the company of about $47 million will be used for R&D, expanded manufacturing capacity, enhanced sales and marketing capabilities and "general corporate purposes," the firm says. "We believe we are well positioned to capitalize on the trend toward increasing usage of domestically produced implants in the Chinese orthopedic market," the company notes in its IPO prospectus. China's orthopedic implant market is expected to grow from about $900 million in 2009 to about $2.4 billion in 2015, at roughly 18% annually, according to the company. The ADSs trade on the New York Stock Exchange under the symbol "KH." Underwriters for the IPO included Morgan Stanley, Piper Jaffray, Cowen and Company, and Canaccord Genuity

You may also be interested in...

ASCO Meeting In Brief

Brain cancer device makes headway: Israel-based NovoCure plans a near-term PMA submission for its NovoTTF brain cancer device, a portable headgear-based system that relies on low intensity electric fields to disrupt cell division, based on data from a 237-subject trial of recurrent glioblastoma patients reported June 5 at the American Society of Clinical Oncology annual meeting. In the full "intent-to-treat" population, the NovoTTF arm showed statistically similar survival times to "best available" chemotherapies (6.6 months vs. 6.0 months), researchers reported at the Chicago meeting. In the "per-protocol" population - the 80% of patients that completed at least one course of device or drug treatment - NovoTTF patients experienced a statistically significant survival advantage (7.8 months vs. 6.1 months) and a large advantage in response rate (15.1% vs. 5.1%). The CE-marked device, which a patient can wear throughout the day while toting a battery pack in an over-the-shoulder bag, was associated with three to four times fewer infections than standard chemotherapy, plus a reduction in other common side effects. NovoCure is conducting another pivotal trial assessing the impact of combining the device with chemotherapy for newly diagnosed glioblastomas. The firm recently raised funds from Pfizer, Johnson & Johnson and other investors to help fund its clinical trial program (1"The Gray Sheet" Oct. 12, 2009)

Financings In Brief

Electromed IPO would raise up to $13.8 million: Maker of the SmartVest airway clearance system for patients with compromised pulmonary function plans to raise up to $13.8 million in a proposed initial public offering, according to a May 3 filing with the Securities and Exchange Commission. The proceeds would be used for sales force expansion and R&D, as well as to add employees to the firm's reimbursement, patient services and administrative departments, according to the preliminary IPO prospectus. Founded in 1992, the New Prague, Minn., company generated sales of $13 million and net income of $1.3 million in fiscal 2009 (ended June 30), primarily from its 510(k)-cleared SmartVest system. The device generates high-frequency chest wall oscillation, also known as high-frequency chest compression, to help patients rid their lungs of excess lung secretions, thereby making them less likely to develop lung infections such as pneumonia. Recipients include those with cystic fibrosis, chronic obstructive pulmonary disease, muscular dystrophy and post-surgical airway complications, according to the company. Feltl and Company is underwriter for the IPO. The firm expects its shares to trade under the Nasdaq symbol "ELMD.

QUOTED. 6 April 2020. Bethany Hills.

Diagnostics company Bodysphere had to retract an announcement that it had received an emergency use authorization from the US FDA for a COVID-19 serologic test. See why Bethany Hills, an attorney with law firm Morrison & Foerster, says this may be a cautionary tale for other manufacturers.





Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts