United Imaging Healthcare on August 22 launched an initial public offering (IPO) on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE).
The offering raised $1.6 billion, according to an analysis by Bloomberg. The company plans to use proceeds from the offering to fund research and development of medical equipment, marketing, and operating capital, it said. The company makes uExplorer total-body PET/CT scanner, a PET/MRI system, and a CT linac.
United Imaging was established in 2011 and has systems installed in more than 40 countries, including the U.S., Japan, Italy, and New Zealand.
