Recently, the China Securities Regulatory Commission issued a notice of filing for overseas issuance and listing, which shows that "China's second largest high-end private dental clinic" Malong Dental will plan to issue no more than 25.3 billion ordinary shares and listed on the Hong Kong Stock Exchange.
The issuance of this notice may mean that Malong Dental, which submitted its application for listing on the Hong Kong Stock Exchange on August 22, 2023, will soon become a Hong Kong listed company.
According to incomplete statistics, in the whole year of 2023, about 14 private medical service groups will hit the market, including many large medical groups such as Sanbo Brain, US-China Jiahe, Shulan Medical, and Lu Daopei Medical.
A number of medical service groups are focusing on the pursuit of listing, which seems to show a kind of boom in listing where the impact of the epidemic is over, the private medical market has entered a recovery period, and everything is thriving.
However, some people in the industry said that these phenomena are just normal capital market behaviors, and do not represent the "listing tide".
For example, Fukang Medical, which applied for listing on the main board of the Shanghai Stock Exchange and entered the inquiry stage in July 2023, was registered with the ** Securities Regulatory Bureau as early as October 2017. On February 28, 2023, Fukang Medical submitted a prospectus for the initial public offering of the main board, planning to sprint to the main board of the Shanghai Stock Exchange for IPO listing, with a total amount of 55.6 billion yuan for the construction project of the central campus of ** Fukang Hospital. ——From filing to submission of forms, Fukang Medical has been precipitated for nearly 6 years.
Indeed, if we look at the medical institutions that hit the IPO last year, the main purpose of raising funds is to focus on new construction, expansion, investment in research and development, optimization of facilities, and replenishment of working capital.
Some industry insiders said that the listing of non-public hospitals can give social hospitals the wings of capital, which can not only solve the problem of hospital operating cash flow, but also help non-public hospitals further promote the construction of hardware and software, and at the same time, the listing mechanism can also force non-public hospitals to develop more sustainably and sustainably, and ultimately benefit more patients.
Although it is difficult to directly assert that the private medical market has ushered in a listing boom, there is no imagined heat, but the heat has not decreased.
At present, most of the medical service companies listed on the A-share market have entered the medical industry through mergers and acquisitions, or completely converted their main business into the medical industry, such as Tongce Medical, Yihua Health, and Hengkang Medical.
However, on February 1, 2023, the China Securities Regulatory Commission issued the "China Securities Regulatory Commission Soliciting Opinions from the Public on the Main System Rules for the Full Implementation of the ** Issuance Registration System", which plans to promote the "** issuance registration system" to the whole market. After the implementation of the full registration system, the conditions for issuance and listing on the main board will be more inclusive, and the number of new shares is expected to become more abundant.
This may mean that the conditions and thresholds for enterprises to impact A-share listing will be further reduced, and the relevant processes will be optimized, and the possibility of private hospitals becoming A-share listed companies will be further increased, and medical service enterprises will also have a better financing channel from the primary to secondary listing of the industry.
Article**: Huaxia Medical Network (sharing medical management strategies, serving hospital trading).