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    Client Highlights

    S&C Advises Underwriters in Gaush Meditech’s IPO

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    December 20, 2022

    Gaush Meditech Ltd. completed its initial public offering and listing on The Stock Exchange of Hong Kong Limited. The Company raised net proceeds of approximately $36 million before any exercise of over-allotment option from the global offering, and Cuprite Gem, as the selling shareholder and a Warburg Pincus entity, also raised net proceeds of approximately $36 million from the global offering. Gaush Meditech’s market capitalization upon the listing was approximately $970 million. The offering was completed on December 12.

    Gaush Meditech offers high-quality ophthalmic medical devices, equipment and consumables and provides related technical services to customers. Its product offering covers all seven ophthalmology sub-specialties where ophthalmic medical devices are utilized for diagnosis, treatment or surgeries. It is the largest domestic company in the PRC ophthalmic medical device market in terms of revenue in 2021 with a market share of 6.7 percent.

    S&C acted as Hong Kong and U.S. law counsel to the underwriters and was also responsible for drafting the prospectus. Morgan Stanley and Haitong International were the joint sponsors.

    The S&C team was led by Gwen Wong, Kay Ian Ng and Ching-Yang Lin in Hong Kong. The core team consisted of special counsel Gehuan Liu (Beijing), associates Hanzhi Wang (Beijing), Mengli Wan (Beijing) and Yiwen Wang (Hong Kong). Jeffrey Hochberg, Saul Brander and James Patton in New York advised on U.S. tax matters.

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    Gwen Wong Headshot Photo
    Gwen Wong
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    Kay Ian Ng Headshot Photo
    Kay Ian Ng
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    Ching-Yang Lin Headshot Photo
    Ching-Yang Lin
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    Jeffrey D. Hochberg Headshot Photo
    Jeffrey D. Hochberg
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    Saul Brander
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    Gehuan Liu Headshot Photo
    Gehuan Liu
    Beijing
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