SoftBank-Backed Surgical Robotics Firm Noah Medical Eyes Hong Kong Listing

Noah Medical, a surgical robotics firm based in the United States and supported by SoftBank, intends to pursue a listing in Hong Kong as soon as next year, aiming to secure over US$100 million and facilitate its expansion into mainland China. During an interview at MedTech World Asia in Hong Kong on Thursday, founder Zhang Jian highlighted the city’s reputation as a global financial hub with a well-known stock exchange. The company obtained regulatory approval from China's drug authority in November of last year, with Hangzhou's Sir Run Run Shaw Hospital identified as a prospective client. In Hong Kong, the Prince of Wales Hospital has already acquired Noah Medical's devices. Presently, 90 percent of the firm's revenue comes from the U.S., where its surgical robots have assisted approximately 15,000 patients. This initiative aligns with a wave of tech listings leveraging Hong Kong's international fundraising opportunities.