Dublin-headquartered Q3 Medical to raise €50m, plans Hong Kong IPO

Holding company is primarily focused on acquiring medical device businesses

The move comes just a few months after Q3 subsidiary AMG received CE mark approval for its novel biodegradable biliary and pancreatic stent technology

The move comes just a few months after Q3 subsidiary AMG received CE mark approval for its novel biodegradable biliary and pancreatic stent technology

 

Q3 Medical Devices, a Dublin-headquartered holding company with operations in Germany, China and the United States, has announced plans to raise €50 million in a funding round ahead of a flotation in Hong Kong.

The company, which secured €28 million in a private placement last year, said it expects to raise more than €125 million in an initial public offering with the expected IPO valuation valued at more than €500 million.

Q3 is focused on acquiring medical device businesses with revenues of up to €10 million. Its main area of interest is on companies that are developing, manufacturing, and distributing minimally invasive devices for the treatment of patients with cardiology, peripheral vascular and non-vascular diseases.

International investors

The company’s products are sold in over 50 countries worldwide and employs more than 150 people and operates a number of subsidiaries, including QualiMed, AMG and Q-San.

Backers of the group include China Pioneer Pharma Holdings Limited and Boill Holding Group.

Q3, which is focused on becoming the world-leading bioresorbable implant company, said a listing in Hong Kong would help attract international investors and further enhance the research and development of its pipeline products.

The move comes just a few months after AMG received CE mark approval for its novel biodegradable biliary and pancreatic stent technology known as Archimedes.

“The announcement today represents yet another milestone in Q3 Medical’s story, as we continue to develop disruptive technology that will change the clinical treatment paradigm in the three product verticals in which we will compete,” said Eric Mangiardi, president and chief executive of Q3 Medical.

Hong Kong has led global rankings for IPO volumes this year with more than 160 companies raising a total of $30.5 billion (€26.8 billion).