NewMed Medical Sets Sail on IPO Journey with CITIC Securities, Marking a New Breakthrough in Domestic Cardiac Intervention

Jan 11, 2026 08:00 CST Updated 08:00

NewMed

Artificial Heart Valve System Developer

PART.01

Breaking! NewMed officially embarks on its IPO journey

1.1 Key Time Points and Coaching Institution Disclosure

Families, big news! On January 9, 2026, Shanghai NewMed Medical Co., Ltd. quietly dropped a "deep-water bomb" in the capital market — registering for coaching and filing with the Shanghai Securities Regulatory Bureau. This means it has officially taken a crucial step towards冲击 A-share listing!

This time, the tutoring institution that is ensuring a smooth journey for NewMed is the prestigious CITIC Securities. CITIC Securities is a top-tier investment bank in the financial circle, especially renowned as an "old hand" in capital operations within the healthcare sector. It has successfully assisted multiple medical enterprises in going public, handling every step with ease — from initial due diligence, through the complex material preparation and communication with regulatory authorities, to the final stage of IPO roadshows. This collaboration with NewMed undoubtedly provides a "reassurance pill" for its path to an IPO.

PART.02

NewMed: The Hidden Champion in the Field of Cardiac Interventions

2.1 Focus on High-End Medical Devices, Breaking the Import Monopoly

In China's high-end medical device field, the discourse power has long been firmly controlled by foreign giants. NewMed is like a lone hero, silently working behind the scenes, determined to break this embarrassing situation.

Since its establishment in 2015, NewMed has dedicated itself to the research and development of innovative medical devices in the fields of structural heart disease and arrhythmia. Its core products are all "star products" within the industry, such as transcatheter aortic valve replacement (TAVR) devices, which are a "powerful tool" for treating aortic valve stenosis. In the past, open-heart surgery was mostly used for this type of disease, causing significant trauma, slow recovery, and not only making patients suffer but also carrying high surgical risks. The advent of TAVR technology has opened a new door to life for patients, allowing valve replacement through minimally invasive intervention, greatly reducing surgical risks and patient suffering.

Looking at the mitral valve repair system, mitral regurgitation is very common in heart valve diseases. In the past, treatment options were limited. However, NewMed's mitral valve repair system, with its ingenious design, can precisely repair diseased valves and restore their function. Several technologies fill gaps in China and bring new hope to countless patients.

Not only that, but NewMed's R&D pipeline is comprehensive, ranging from diagnostic devices for early disease detection to various instruments used in interventional treatments, forming a complete industrial chain. Some of the products currently in development have entered the clinical trial stage, and once successfully launched, they will become a cornerstone of domestically produced alternatives in China, effectively alleviating the strain on medical resources caused by the high incidence of cardiovascular diseases in the country.

2.2 High-Growth Trajectory Driven by Capital

2.2.1 Growth Timeline: Key Milestones from Startup to IPO Sprint

Reviewing the development history of NewMed, every时间节点 is engraved with the marks of innovation and breakthrough, clearly showcasing the rise of this China-produced medical enterprise:

2015: Shanghai NewMed Medical Co., Ltd. was officially established, setting the core direction of innovating medical devices in the fields of structural heart disease and arrhythmia, planting the seed for the breakthrough of high-end medical devices produced in China.

2020: Accelerated capital layout, secured approximately $20 million in Series B funding from Orbimed in March, and completed additional Series B investment from international PE firms and Dawan Fortune in April. The funds were primarily allocated to advance the clinical trial of Asia's first mitral valve replacement product, significantly expediting the R&D process.

March 2021: Completed over USD 100 million in Series C financing, led by Temasek with participation from renowned institutions such as Yunfeng Capital and Sequoia Capital. With strong capital support, the company is accelerating the clinical trials and registration of several core products while initiating the expansion of its R&D and production facilities.

October 2022: The first push into the capital market, submitting an IPO application to the Hong Kong Stock Exchange, marking the beginning of its capitalization journey; in the same year, continuous breakthroughs were made in the R&D of related core products, laying the foundation for subsequent commercialization.

2024: Technical achievements reach a tipping point as the independently developed Prizvalve Transcatheter Aortic Valve System receives approval from the National Medical Products Administration for market release, filling the gap for domestically produced balloon-expandable valves; in August, the Aortic Valve Balloon Dilation Catheter also gained approval, further enhancing the product portfolio.

喜讯｜纽脉医疗Prizvalve经导管主动脉瓣膜系统正式获批上市 -- 严道医声网

October 2025: Ranked 93rd in the Top 100 List of China's New Economy Unicorn Enterprises in 2025, with further recognition in the industry due to continuous innovation strength and market potential.

January 9, 2026: Officially registered for coaching filing with the Shanghai Securities Regulatory Bureau, partnering with CITIC Securities to push for A-share listing, and embarking on a new journey of enterprise development.

Behind this growth trajectory is the continuous empowerment of capital. Entrepreneurship is like a marathon, and funds are the "energy supply" in this race. In this entrepreneurial long run, NewMed has undoubtedly gained sufficient "energy." According to Tianyancha data, it has successfully completed 5 rounds of financing, with a total financing amount exceeding 1 billion yuan.

The Series C round of financing in March 2021, which exceeded 100 million US dollars, attracted the attention of a group of major capital players. Temasek, Yunfeng Capital, Sequoia Capital, and Hillhouse Capital—these prominent names in the investment world—all extended olive branches to NewMed. With the support of these capitals, NewMed has become even more "generous" in its R&D investment. Continuously introducing top talents, purchasing advanced R&D equipment, and establishing world-class R&D laboratories, NewMed invests substantial funds in every link from theoretical research to clinical trials of products, all for the purpose of creating the highest quality and most innovative medical devices.

In terms of capacity expansion, capital has also played a crucial role. NewMed has established R&D and production bases exceeding 10,000 square meters in Shanghai, Beijing, Chengdu, and other cities. These facilities include Class 10,000 GMP clean production workshops, strictly adhering to international standards for product manufacturing to ensure the high quality of every product leaving the factory. In its global strategy, capital has enabled NewMed to participate in various international medical device exhibitions, collaborate with top-tier international medical institutions and research teams, gradually bringing its products and technologies to the global stage.

Now, the initiation of IPO coaching marks a significant milestone in NewMed's development journey. From an obscure startup to a rising star in the industry, with the support of the capital market in the future, it is believed that NewMed will surely embark on a new chapter of brilliance.

PART.03

IPO Coaching Kicks Off: What Industry Signals Are Being Sent?

3.1 Acceleration of Capitalization Process in Medical Technology Enterprises

On the grand chessboard of the capital market, NewMed's initiation of IPO tutoring is by no means an isolated event. It is more like a stone thrown into a lake, creating ripples that reflect the accelerating wave of capitalization sweeping through the entire medical technology industry.

At the same time, Dongxiao Biotech has focused on the bio-fermentation field and achieved remarkable results in the R&D of enzyme preparations and probiotics; Tianze Yuntai has concentrated on gene therapy, striving to solve the challenges of genetic disease treatments. These biopharmaceutical companies have successively embarked on the IPO coaching path, making the healthcare sector vibrant for a period. According to incomplete statistics, just within this short period at the beginning of 2026, the number of medical companies initiating listing-related processes increased by nearly 30% compared to the same period last year.

NewMed, operating in the high-end medical device sector, is a typical representative in this field. Its preparation for going public has illuminated the path for similar companies. The process from transforming R&D achievements into market revenue, to raising funds through the capital market for technological iteration and capacity expansion, is akin to a relay race. NewMed has successfully run its leg of the race, and subsequently, numerous "hard tech" companies with innovative technologies have followed suit. As more companies enter the capital market, China's medical device industry will gradually transition from the traditional "manufacturing" model to a technology-driven, innovation-led "smart manufacturing" era.

3.2 CITIC Securities' Support: Professional Endorsement Boosts Market Expectations

In the "campaign" for NewMed's listing, CITIC Securities served as the coaching institution, undoubtedly adding powerful "firepower support" to it.

CITIC Securities holds a top position in the investment banking industry in China. Looking back, Wuxi AppTec's journey from obscurity to becoming a globally renowned "CXO giant" was heavily reliant on its path to going public, with CITIC Securities playing a crucial role in the process. From organizing complex business structures to navigating stringent regulatory scrutiny, CITIC Securities, with its wealth of experience and professional team, helped Wuxi AppTec successfully enter the capital market, ushering in a new chapter of global expansion.

Mindray Medical, a leading enterprise in China's medical device industry, was also backed by CITIC Securities when it went public. CITIC Securities had an in-depth understanding of Mindray Medical’s technological advantages and market prospects, accurately conveying the company's value to investors. This support helped Mindray Medical gain high recognition in the capital market, with its market value continuously rising to become an industry benchmark.

This collaboration with NewMed showcases CITIC Securities' full integration capabilities. In terms of compliance governance, CITIC Securities has established a comprehensive internal control system for NewMed to ensure that its operations meet listing requirements and avoid potential risks. In investor communications, CITIC leverages its extensive client resources and professional roadshow capabilities to fully showcase NewMed’s innovative technologies and market potential to investors, attracting more high-quality capital attention. With the backing of CITIC Securities’ reputable brand, the market is highly confident in NewMed’s post-IPO performance, whether in stock price trends or market share expansion, both of which are held in great anticipation.

PART.04

Sprinting to IPO: Unavoidable Challenges and Tests

4.1 The Shadow of Past IPO Failures and Regulatory Review Pressure

For NewMed, this push for an A-share listing is not the first attempt to access the capital markets. Past setbacks in its Hong Kong IPO attempts have cast uncertainty over this current path to going public. As early as August 2021, NewMed first filed for a listing with the Hong Kong Stock Exchange, but failed due to not passing the hearing within six months. After filing again in October 2022, it also ultimately did not succeed in going public on the Hong Kong stock market. These two consecutive unsuccessful attempts at accessing the capital markets may not only lead to more cautious scrutiny by regulators but could also impact investor confidence in the feasibility of its listing.

From the perspective of A-share IPO review requirements, the compliance, authenticity of R&D, and commercialization prospects of high-end medical device companies are all key regulatory focuses. NewMed needs to provide sufficient evidence to regulators regarding the market competitiveness of its core product, Prizvalve, the certainty of advancing its R&D pipeline, and compliance issues in past operations. This imposes extremely high demands on the company’s information disclosure quality and the professional capabilities of its advisory institutions.

4.2 Financial Pressure from Continuous Losses and Profit Uncertainty

Long-term losses are the core "stumbling block" on NewMed's IPO journey. Financial data shows that in 2020, 2021, and the first half of 2022, the company reported losses of 115 million yuan, 474 million yuan, and 122 million yuan, respectively. Additionally, R&D investment remained consistently high, with R&D expenditures surging by 326.39% year-on-year in 2021, accounting for over 64% of that year’s total loss. More than half of the R&D expenses were allocated to share-based compensation, a cost structure that could easily raise regulatory concerns about the sustainability of its profitability.

Despite the successful launch of the company's core product, Prizvalve, in 2024, which filled the gap for domestically produced balloon-expandable valves, the initial promotion and academic training require substantial financial investment, making it difficult to reverse profitability in the short term. The A-share market has a high threshold for unprofitable companies going public. Even if the relevant provisions for "hard tech" enterprises on the Sci-Tech Innovation Board apply, NewMed still needs to clearly communicate its path to profitability to the market and demonstrate that its commercialization capabilities can support long-term development.

4.3 Hidden Risks of Intellectual Property Disputes and Industry Competition Pressure

Intellectual Property Issues: The "Sword of Damocles" Hanging Over NewMed. The founding team and several core executives of the company have backgrounds working at MicroPort Medical. They have been accused multiple times by their former employer, MicroPort Medical, of infringing on various patented technologies, including core technology areas such as heart valve delivery devices and connecting mechanisms. Although some second-instance verdicts related to these lawsuits have been reached, the aftermath of the intellectual property disputes may still affect the IPO review — regulators will focus on verifying the independence and legality of its core technologies, and unresolved IP controversies could directly hinder the listing process.

At the same time, the fierce competition in the industry has also increased the uncertainty of its IPO. In the TAVR field, Chinese manufacturers such as Venus MedTech and Peijia Medical have already taken the lead in commercialization, accumulating a large number of clinical cases and market share. Among them, Venus MedTech's number of patents far exceeds that of NewMed. International giant Edwards Lifesciences is also accelerating its localization strategy. Even if it successfully goes public, NewMed will still face significant challenges in market expansion. This competitive landscape may raise doubts among investors about its valuation and growth potential, thereby affecting the effectiveness of the IPO.

PART.05

Future Outlook: How to Break the Deadlock After Listing?

4.1 Dual-Driven by R&D and Commercialization

For NewMed, a successful listing is like obtaining a key to unlock the door to a treasure trove, behind which lies infinite possibilities brought by vast amounts of capital.

On the R&D track, NewMed has long been "ready to go." In its R&D pipeline, multiple products under development are like "rockets" ready for launch, waiting to soar into the sky. For instance, the next-generation mitral valve interventional device features bold innovations in design, utilizing new materials and structures, which are expected to further reduce surgical risks and improve treatment outcomes. Once on the market, it will bring more hope to patients with mitral valve disease and create a new wave in the market.

In terms of commercial promotion, NewMed also has a clear plan. For the already marketed aortic valve replacement product Prizvalve, it will increase market promotion efforts, establish cooperative relationships with more tertiary hospitals, and conduct clinical application training. By allowing doctors to personally operate the product, they can deeply understand its advantages, thereby increasing the product's market share. In terms of academic promotion, actively participate in cardiovascular academic conferences both domestically and internationally, publish clinical research findings, and enhance the product’s recognition and reputation within the industry.

At present, the interventional treatment market for structural heart disease in China is like a fertile land that has not been fully cultivated, with a penetration rate of less than 10%. This is both a challenge and an opportunity. NewMed needs to continuously invest in technological iteration to keep its products at the forefront; meticulously control costs to reduce product prices, allowing more patients to afford them; and consistently strengthen academic promotion, enabling more healthcare professionals to understand and recognize its products. By doing so, NewMed can consolidate its leading position among Chinese-produced medical devices and navigate this blue ocean market successfully.

4.2 Industry Competition and Globalization Challenges

In the field of medical technology, it has always been a highly competitive "battlefield," and the areas where NewMed operates, such as TAVR, are no exception.

In China, domestic manufacturers such as Qiming Medical and Peijia Medical have long been strategically positioned in this field, each occupying a certain market share by leveraging unique technological and product advantages. Qiming Medical's VenusA-Valve, the first domestically approved TAVR product in China, has accumulated extensive clinical application experience and a strong user base; Peijia Medical's TaurusElite Transcatheter Aortic Valve System has also gained significant market favor due to its precise deployment technology and excellent clinical outcomes.

International giant Edwards Lifesciences, is an even more dominant "behemoth" in the industry. With its deep technical expertise, extensive global presence, and strong brand influence, it is accelerating its localization process in the Chinese market, putting immense pressure on domestically produced manufacturers.

Facing fierce competition, NewMed has its own "secret weapon" — a differentiated product pipeline. In addition to making efforts in the aortic valve replacement field, it has achieved many breakthroughs in mitral and tricuspid valve interventional devices. These products are designed based on the characteristics of different valvular diseases, filling market gaps and building a strong competitive barrier.

Under the wave of globalization, the "Belt and Road" initiative has brought new development opportunities to NewMed. Most of the countries along the route are in a stage of rapid development, with a strong demand for medical resources. NewMed’s products and technologies are well-suited to meet these countries' needs in treating cardiovascular diseases. By collaborating with local medical institutions, establishing production bases, and building sales networks, NewMed is poised to expand into emerging markets. On the global stage of competition in cardiovascular devices, it aims to secure its own position, bringing "Created in China" medical devices to every corner of the world.

PART.06

Conclusion: From "NewMed" to "New Pulse", the capital market awaits the innovative power of healthcare

Shanghai NewMed Medical Co., Ltd. has initiated its IPO coaching, a move that has ignited the capital market's enthusiasm for medical innovation companies like a fire in winter.

From its establishment in 2015, NewMed has been diligently working in the field of cardiac intervention, overcoming one technical challenge after another, to now standing on the cusp of going public. Every step taken by NewMed has been firm and powerful. It has not only brought hope to countless patients with cardiovascular diseases but also driven the progress of the entire domestically-produced medical device industry in China.

Now, the doors of the capital market are slowly opening to it. In the future, we believe that NewMed will leverage the power of capital to continuously scale new heights in technology, introduce more innovative products, and benefit patients worldwide. As witnesses to this wave of medical innovation, we will continue to follow the growth of NewMed, looking forward to its even brighter performance in the capital market, injecting a steady stream of "NewMed" strength into China's healthcare industry!