BrosMed Medical
High-end Medical Device Designer, Manufacturer, and Distributor
On December 24, the listing application of BrosMed Medical Co., Ltd. ("BrosMed Medical") has been accepted by the Shenzhen Stock Exchange for its ChiNext IPO application.
The 1.7 billion yuan raised from this IPO will be mainly used for the construction of the Songshan Lake Global Headquarters project, the first phase of the technical renovation project at the Hunan production base, the R&D project for interventional medical devices, the marketing network construction project, and replenishing working capital.
According to the prospectus, BrosMed Medical was established in 2012 and focuses on the research, development, production, and global sales of high-performance vascular interventional medical devices. It is a leading provider of technological and product solutions for complex vascular disease interventions globally. Additionally, it is a pioneering R&D and manufacturing enterprise in China with leading production and sales in the field of balloon catheters for vascular intervention.
In terms of product system construction, the company has formed a comprehensive product matrix covering multiple treatment scenarios, with over 50 product series. The application fields of these products encompass key areas such as coronary intervention, peripheral intervention, neurointervention, hemodialysis access, and interventional accessories. Specifically, they include various core product lines such as general balloon catheters, functional balloon catheters, drug-coated balloon catheters, interventional guidewires and catheters, various thrombectomy devices, calcification treatment devices, and energy-based therapeutic devices.
In terms of R&D and production layout, the company has currently established 5 R&D centers and laboratories, 4 production bases, and 3 international operation centers worldwide. In terms of market coverage, the company's products have been successfully marketed in over 100 countries and regions at home and abroad, serving more than ten thousand hospitals and medical centers globally.
In terms of enterprise operations, the company practices the "innovation + scale + internationalization" three-in-one business development strategy. Since its establishment, the company has maintained high-intensity R&D investment, building a well-structured and highly efficient R&D talent team and an IPD product development system. Relying on core research platforms such as the Guangdong Vascular Intervention Technology and Device Engineering Research Center, Dongguan Key Laboratory for Vascular Intervention Medical Device Research and Development, and CNAS-accredited laboratories, the company has achieved multiple global breakthroughs in product technology and core processes through worldwide industry-university-research cooperation and medical-engineering innovation collaboration.
As of the date of signing the prospectus, the company has launched seven products that are either globally pioneering or possess unique innovative technologies; meanwhile, the company, as the sole completing entity, was awarded the second prize of the 2020 Guangdong Provincial Science and Technology Progress Award. Additionally, 12 of its products have been recognized as high-quality and high-tech products in Guangdong Province, and it holds over 80 authorized domestic and international invention patents, laying a solid foundation for continuous innovation.
In the market aspect, BrosMed Medical, as a leading medical technology innovation platform enterprise in the field of complex vascular interventional treatment, has maintained a long-term stable and high-speed development trend in both domestic and overseas markets since it began sales.
From 2022 to 2024, the compound annual growth rate of operating revenue reached 48.98%. The company has established international operation centers in China, Europe, and the United States, and has set up local marketing offices in multiple countries and regions. It has currently built a long-term and stable marketing channel system in over 100 countries and regions worldwide, with more than 200 overseas cooperative distributors and nearly 800 domestic cooperative distributors, serving over ten thousand hospitals and medical centers.
In terms of honors, BrosMed Medical is a national high-tech enterprise and a national "key small giant" enterprise specializing in niche industries. It has also been recognized as a single-item champion enterprise in Guangdong Province's manufacturing industry, one of the top 100 innovative enterprises in Dongguan City, and a multiplier enterprise in Dongguan City. It has won the Gold Award at the first Guangdong-Hong Kong-Macao Greater Bay Area (Guangdong) High-Value Trademark Brand Cultivation Competition and the Special Prize at the first Dongguan Science and Technology Innovation and Entrepreneurship Competition. In addition, the company has repeatedly ranked on authoritative industry lists, including the Top 100 Innovative Medical Device Companies in China and the Top 150 Innovative Enterprises in China (Zero2IPO list).
In terms of operating conditions, the company is currently in a "high growth and high risk" situation.
From 2022 to 2024, the company's average annual compound growth rate of operating revenue reached 48.98%. By the first half of 2025, the company’s revenue and net profit reached 303 million yuan and 35.65 million yuan respectively, maintaining a steady growth trend. The net cash flow generated from operating activities remained positive, reaching 99.2562 million yuan in 2024, far exceeding the net profit for the same period, reflecting the strong cash generation ability of the main business.
However, the company also faces many non-negligible risk challenges. At the asset and operation level, it is under certain pressure. Meanwhile, the impact brought by the centralized procurement policy, increasingly fierce market and technology competition environment, high dependence on the dealer channel, as well as long R&D cycles and uncertain approval results, are like the Sword of Damocles hanging over its head, requiring the company to focus on prevention and response.
The continuous support from the capital market has also injected financial vitality into the IPO process. Since initiating its first round of financing at the end of 2013, BrosMed Medical has completed four rounds of financing, attracting top-tier institutions such as Tencent Ventures, Hillhouse Capital, and IDG Capital.
Notably, Tencent has invested in over 190 companies in the healthcare sector and obtained six medical device licenses, with BrosMed Medical being one of them.
Among them, the initial R&D was funded by Series A financing at the end of 2013 to early 2014, Series B financing in 2015 supported the expansion of the product pipeline; during the pandemic in 2020, a multi-hundred-million-yuan Series C financing was completed in just four months (led by Hillhouse Ventures), gaining market recognition for the technology's value; in June 2025, top-tier institutions like IDG joined in the Series D round, and an IPO application was submitted just six months later, showing significant capital boosting effects.
In the end, regarding future development, BrosMed Medical has achieved a breakthrough in domestically produced technology through its technological innovation and product development in the vascular intervention field, becoming an important force in this area. Besides strengthening its core technology barriers, BrosMed Medical is also enhancing its competitiveness with the help of investors like Tencent and Hillhouse. As the IPO progresses, BrosMed Medical is expected to become a significant player among China-produced companies.Medical Devices"A Benchmark Enterprise for 'Going Global'."