The new 'Huawei-like' medical device kid on the block...
𝘛𝘩𝘦 𝘯𝘦𝘸 ‘𝘏𝘶𝘢𝘸𝘦𝘪-𝘭𝘪𝘬𝘦’ 𝘮𝘦𝘥𝘪𝘤𝘢𝘭 𝘥𝘦𝘷𝘪𝘤𝘦 𝘬𝘪𝘥 𝘰𝘯 𝘵𝘩𝘦 𝘣𝘭𝘰𝘤𝘬….
While Huawei has rocked the traditional global of telecommunication in recent two decades, United Imaging in Shanghai is rocking the market of medical imaging and radiotherapy equipment since a few years now.
Only founded 11 years ago in 2011 with HQ in Shanghai, the company has subsidiaries and R&D centers across China, US, Europe and other parts of the world. Over 40% of its 8,000 employees worldwide work on R&D with about 17,400 systems installed in 44 countries.
United Imaging offers a portfolio of diagnostic imaging devices in the fields of nuclear medicine, magnetic resonance imaging, computed tomography and X-ray along with digital healthcare solutions, and intelligent solutions that cover the entire process of imaging diagnosis and treatment.
United Imaging has made their way in Chinese hospitals in matter of a few years with market shares of different devices between 20-25% in 2020. A market in China previously controlled for 95% by the stronghold of GE Medical, Philips and Siemens Medical, known by the acronym ‘GPS’. Their international expansion will expectedly be more impressive in coming years. Read their updates on the Linkedin company page expanding to new countries by the week.
United Imaging only shipped its first product in 2014. Its growth since then, initially marked by state-owned investors, has seen the company labelled as “𝘁𝗵𝗲 𝗛𝘂𝗮𝘄𝗲𝗶 𝗼𝗳 𝗺𝗲𝗱𝗶𝗰𝗮𝗹 𝗱𝗲𝘃𝗶𝗰𝗲𝘀” in media.
Reportedly the company is planning to go public on the Shanghai STAR Market. The Rmb12.5 billion ($2 billion) offering could become the largest A-share IPO this year.
The deal would lift United Imaging’s valuation to more than Rmb100 billion or about three times the level of its Series A fundraising, led by a coterie of state-owned investors including China Life in 2017.
‘Made in China 2025’ has faded as an international slogan few years ago. But the underlying ambition and policy to enhance self-reliance in essential goods and technologies has never waned...