Hong Kong listed | the stock exchange of Hong Kong assisted reproductive domain IVD first wave Basecare medical successful listing

On February 08, 2021, the leading IVD company in the field of assisted reproduction in China, Basecare Medical (Suzhou Basecare Medical Co., LTD.), was officially listed on the main Board of the Stock Exchange of Hong Kong, stock code: 2170. About 66.667 million shares were issued before the exercise of the overallotment option, raising a total of about HK $2.02 billion. The offering price was HK $27.36 per share, 402.8 times oversubscribed, up 17.14% as of press time, with a total market value of HK $8.414 billion.

The listing, an important milestone in the history of Basecare Healthcare, attracted seven world-renowned cornerstone investors including Auboh Capital, Clearpool Capital, Guoxin Overseas, Affin Hwang AM, Win-win Capital, Ruiyuan Capital and Ivy Capital. All along, Becom Healthcare is very optimistic about the internationalization and diversification of Hong Kong's capital market, and also full of confidence in China's assisted reproduction track. The listing of Basecare Medical will become the first IVD industrial stock in the Stock Exchange of Hong Kong, thus opening the door of large-scale industrialization of three generations of test-tube test kits.

One out of every six couples in China has difficulty giving birth, and there are more than 70 third-generation test-tube qualified medical institutions in China. The total number of treatment cycles per year is more than double that of the United States, making China the world's largest assisted reproductive medical market. According to the Frost Sullivan report, China's market for reproductive genetics medical devices grew from 1.3 billion yuan in 2015 to 3.4 billion yuan in 2019, with a compound annual growth rate of 28.4%, and is expected to reach 11.2 billion yuan in 2024.

According to statistics from the National Health Commission in 2018, the average pregnancy success rate of IVF babies in China is less than 50 percent. The clinical difficulty of IVF is that the embryo can only be judged by morphology, and it is impossible to accurately confirm whether the embryo is healthy and normal from the genetic level. The PGT-A kit developed by Basecare Medical fills the clinical gap in embryo genetic testing kit in China and has been approved as a product of "National Special Approval for Innovative Medical Devices". In February 2020, Basecare Medical PGT-A kit completed large-scale embryo clinical trials and was approved by the State Food and Drug Administration, marking the beginning of the "licensed" era for the three generations of test-tube baby genetic testing kits in China. Since August 2020, the PGT-A kit has been included in the national mandatory medical industry standard as a Class III medical device.

After listing, Basecare Medical will continue to be based in Suzhou, develop in Suzhou, establish the headquarters base of listed companies in Suzhou area, to create the country's largest birth IVD industry chain and high-end equipment manufacturing upstream and downstream cluster. In the next 5 years, we will complete the registration and registration of the industry line of the whole fertility cycle. Through the innovation of gene technology, more families can give birth to healthy children, contribute to the national and ethnic eugenics, and constantly promote the development of China's assisted reproductive industry.