Global law firm DLA Piper has advised the joint sponsors, China International Capital Corporation Hong Kong Securities Limited and DBS Asia Capital Limited, and the underwriters, acted as the drafting counsel, on the initial public offering (IPO) and H share listing of Guangdong True Health Medical Technology Development Co., Ltd. (廣東真健康醫療科技開發股份有限公司) (True Health) on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) (Stock Code: 2697).
The company’s H shares commenced trading on 30 June 2026. The IPO was conducted under Chapter 18A, the biotechnology company regime, raising gross proceeds of over HKD449 million.
Founded in 2018, True Health is an innovative medical technology company incubated in the Guangdong–Macao In-Depth Cooperation Zone in Hengqin, China specializing in the research, development and commercialization of percutaneous puncture and ablation surgical robots. The Company’s core product is a percutaneous puncture surgical robot platform comprising four models (TH-S1, TH-S, TH-S Pro and TH-SA), all of which have obtained NMPA Class III medical device registration approvals in China.
Building on its core product, True Health has developed an expanding pipeline of surgical robotic systems and related technologies, including microwave ablation surgical robots, cryoablation surgical robot and organ preservation platforms, positioning the Company to deliver integrated solutions across minimally invasive oncology procedures.
Proceeds from the IPO will be used primarily to advance research and development and commercialization of True Health’s core product, as well as to support the development of its other pipeline products, expand manufacturing capabilities, and for working capital and general corporate purposes.
The DLA Piper team was led by Sherlyn Lau, Head of Capital Markets and Corporate Finance, APAC, with support from Iris Yuen and Jacob Zhao (both of counsels), Jiefei Yao (senior consultant), Hannah Wong (senior corporate manager), Wendy Ho (senior legal officer), Claudia Lau (senior legal officer) and Marcus Xing-Li (legal officer).
Commenting on the transaction, Sherlyn Lau said: “Supporting True Health on its successful Hong Kong listing marks an important milestone in the Company’s growth journey. This transaction demonstrates how innovative healthcare companies are increasingly leveraging Hong Kong’s capital markets to accelerate development and bring next-generation solutions into clinical practice”.
The listing follows a series of notable Hong Kong IPOs recently advised on by DLA Piper’s Capital Markets team, including Circuit Fabology Microelectronics Equipment, Shanghai Seer Intelligent Technology, Nsing Technoloies and Star Sports Medicine.
