According to the HKEx, Yida Health Medical Technology Holdings Limited submitted the form to the main board of the HKEx, with Morgan Stanley and China International Capital Corporation as its lead underwriters.

Yida Health is an intelligent precision surgery solution provider. Precision surgery is a series of solutions that accurately and quantitatively cover the clinical evaluation, preoperative planning to surgical operation and postoperative evaluation with the help of medical imaging and artificial intelligence technology.

Data show that YIDA Health has received several rounds of financing and a number of big-name institutions have entered the market. Before IPO, Bank of China Ltd. held 18.96% of the shares through Brilliant Link Development Ltd, making him the largest institutional shareholder. Softbank Corp. holds 17.59%, Matrix Partners 10.52%, Morningside Venture Capital 11.48%, and Trustbridge Partners 5.31%.

Yida Health's business consists of surgical robots and accurate surgical planning solutions. The product portfolio also includes four commercialized precision surgery software, as well as four candidate surgical robots, four candidate precision surgery software and a number of medical consumables under development.

The company's core products-IQQA-Guide series of surgical robots and Fengjing surgery planning software product line, including clinically proven IQQA-3D. Yida Health has established a 3D precision surgery digital solution cloud platform (IQQA cloud platform) in China, which integrates IQQA-3D functions and enables doctors to collaborate on intelligent surgery planning remotely in real time.

Percutaneous surgical robot IQQA-Guide series was approved by FDA (Food and Drug Administration) of the United States in 2015, and then passed the special approval procedure of innovative medical devices of the State Drug Administration of China, and obtained the registration certificate of three types of medical devices issued by the State Drug Administration in January 2020.

It is worth mentioning that so far, there are only three major market participants in China's percutaneous surgery robot, with a total of four products that have been approved and put on the market. Among these products, IQQA-Guide 1.0 (MII) is the first surgical robot in China to be approved to use intelligent surgical navigation in all solid organs of the lungs and abdomen.

One of the main applications of precision surgery planning is thoracic and abdominal organs. In 2020, 31700 cases of thoracic and abdominal surgery are supported by precise surgical planning, and the number is expected to grow rapidly, reaching 141600 by 2025 and eventually reaching 639200 by 2030.

Through IQQA-3D and IQQA cloud platforms, Yida Health has assisted more than 80, 000 precision operations in China, covering more than 60 of the top 100 hospitals published by the Institute of Medical Management of Fudan University.

For the purpose of this fund-raising, the prospectus reveals that it will speed up the development of products under research and make the products more diversified; continuously strengthen the research and development capacity; speed up the commercialization process; and further develop the precision surgery ecosystem through strategic cooperation.

Of course, the company's prospectus also discloses risk factors, including: persistent losses, increased R & D investment, net current liabilities, credit risk, product sales and adverse product progress under development, industry competition, serious adverse events caused by products, risks related to various government regulations, intellectual property risks, etc.

Financially, the company's revenue was 20.059 million yuan (RMB) in 2019, 22.303 million yuan in 2020 and 48.43 million yuan in the ten months to 2021. The losses in the same period were 247 million yuan, 286 million yuan and 793 million yuan respectively. It is worth noting that the company is expected to continue to generate losses and may not be able to achieve or maintain profitability.

As precision surgery gradually replaces traditional surgery based on experience, more and more attention has been paid to surgical robots and accurate surgical planning solutions to achieve this technological leap. Among them, surgical robots can help surgeons overcome human physiological limitations and play an important auxiliary role in doctors' operations, and the global market for surgical robots is expected to reach 56.8 billion US dollars by 2030.

In addition, accurate surgical planning can assist doctors to carry out real-time interaction, intelligent and full-quantitative analysis and evaluation of organs and surgical simulation of patients' chest and abdomen CT or MR images in three dimensions.

Based on the support of national policy for innovative medical devices and the application potential of surgical robots in the medical field in the future, the high growth of the industry is relatively certain. At the same time, at present, the domestic competition pattern in the field of surgical robot segmentation is very good, which is the best time for leading enterprises to stand out.
Yida Health not only has a strong R & D and innovation capability, but also has mature products and services.

In the future, with the rapid growth of the surgical robot track, the company's lead will be more obvious. The listing is also expected to further accelerate the progress of product research and development, strengthen the company's innovation ability, and speed up market coverage, its follow-up growth space is worth looking forward to.