OrbusNeich’s IPO serves as a beacon for Hong Kong’s health tech sector, as the first medical device company in Science Park hits major milestone

(Hong Kong, 23 December 2022) – Hong Kong Science and Technology Parks Corporation (HKSTP) congratulates Science Park company, OrbusNeich Medical Group Holdings Limited (OrbusNeich), on its successful listing on the Main Board of Hong Kong Stock Exchange, serving a beacon for the city’s rapidly growing health tech sector.

Albert Wong, CEO of HKSTP, said, “Hong Kong is open to pioneers and innovators who want to come accelerating their future success. OrbusNeich is a good home-grown example of this ethos, harnessing the advantages that Hong Kong, the Science Park and its global footprints can offer, being dedicated in the past 20 years to provide innovative cardiovascular interventional solutions for life-saving & unmet clinical needs, as well as persisting in designing and manufacturing safe and best-in-class products approved by US, European, Japan and China regulatory bodies and sell to over 70 countries and regions worldwide.

“The exhilarating and encouraging news we’ve witnessed this year from Hong Kong’s health tech companies is a vote of confidence in our city’s ambition to become a biomedical technology center of excellence.”  

Founded in 2000 and headquartered at the Science Park since 2018, OrbusNeich is a major global medical device manufacturer specialized in interventional instruments for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures.  OrbusNeich is the only PCI balloon manufacturer headquartered in China that ranked among the top 6 players in all major overseas PCI balloon markets including Japan, Europe and the U.S. OrbusNeich’s Chairman, President and CEO, David Chien described the move to the Science Park as giving the company impressive facilities, talent and fundraising platform to explore new applications.

The news follows a string of recent major announcements from health tech companies at the Hong Kong Science Park, recognising Hong Kong’s R&D capability in biomedical technology, including Prenetics’ acquisition of ACT Genomics and Insilico Medicine’s US$1.2 billion research collaboration deal with Sanofi.

HKSTP is one of the Hong Kong’s largest R&D base with a vibrant innovation and technology ecosystem and translational research infrastructure, which has been established over the past 20 years. Today, the Science Park has a working population of over 12,000 R&D professionals, more than 250 health tech related start-ups and is home to the InnoHK international research clusters in healthcare.