SoftBank-backed surgical robotics firm eyes Hong Kong listing to power mainland China push

Noah Medical expects to file application as early as next year, joining surge of tech listings tapping city’s international fundraising pool

The US-headquartered company aimed to raise more than US$100 million and planned to file its listing application as early as next year, according to founder Zhang Jian.

“We want to expand our business in [mainland] China, and Hong Kong – as an international financial centre with a globally recognised stock exchange – is the natural choice for our listing,” Zhang said in an interview on the sidelines of MedTech World Asia in Hong Kong on Thursday.

Sir Run Run Shaw Hospital is a target customer, following regulatory approval from China’s drug regulator in November last year.

In Hong Kong, Prince of Wales Hospital had purchased Noah Medical’s equipment, Zhang said.

Currently, 90 per cent of the company’s revenue is generated in the United States, where surgical robots have treated about 15,000 patients.