Medtech investor plans Catalist IPO

The medtech investor formerly known as Clearbridge Accelerator plans an initial public offering (IPO) on the Singapore Exchange.

Clearbridge Health, as it is now called after a name change in April, lodged a draft prospectus for a listing on the Catalist board last Friday.

Founded by non-executive non-independent chairman Johnson Chen in 2010, Clearbridge Health describes itself as a healthcare company with a focus on precision medicine in Asia, including laboratory testing, diagnostics and personalised treatments.

The firm holds equity in Clearbridge Biomedics, which developed the proprietary ClearCell FX System that can detect, isolate and retrieve circulating tumour cells from blood, paving the way for non-invasive cancer diagnosis.

Clearbridge Health's revenue has been derived solely from the provision of lab testing services at its in-house laboratory, Sam Lab.

The size of the IPO has not been announced but Clearbridge Health said it expects operating expenses to increase in the near term after the IPO, and it cannot be certain that it will achieve profitability.

IPO proceeds will be used to expand the company's medical clinics and laboratory testing services business organically or through investments, acquisitions and joint ventures, the prospectus said.

A version of this article appeared in the print edition of The Straits Times on November 28, 2017, with the headline 'Medtech investor plans Catalist IPO'. Print Edition | Subscribe