Radiology vendor United Imaging is reportedly exploring an initial public offering on Hong Kong’s stock exchange that could raise $1 billion, according to a Friday news report citing anonymous company sources.
The Shanghai-headquartered firm is speaking with advisors and may pull the trigger on an IPO later this year. United Imaging—which manufacturers artificial intelligence and other solutions in radiology and has U.S. offices in Houston—was valued at $5 billion following a 2017 fundraising round, Bloomberg reported.
Company officials are also exploring a listing on China’s Nasdaq-like STAR Board stock exchange. A spokeswoman denied that United Imaging is contemplating a Hong Kong IPO, while acknowledging the ongoing fundraising efforts in its home country, the report noted.
Founded in 2011, United Imaging offers a host of products tied to molecular imaging, MRI, CT, and radiography. Last year, the company scored U.S. Food & Drug Administration clearance for technology including a tool to help reduce noise on FDG-PET scans and an ultrawide-bore for MR imaging obese patients. Mass General also recently partnered with the company to harness AI in the fight against COVID-19.
Read more from Bloomberg News below.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.