Anew Health Ltd. (AVG) is set to raise approximately $9 million in an initial public offering (IPO) scheduled for November 21, 2023. The company plans to issue 1,800,000 shares with a pricing range of $4.00 to $6.00 per share, according to a report from IPO Scoop. This move comes as Anew Health seeks to expand its operations and reach within the health services sector.
Founded in 2007, Anew Health is based in Hong Kong and focuses on pain management and health services. The company’s recent financial performance reflects its growth potential, having generated $40.02 million in revenue and $5.54 million in net income for the fiscal year ending March 31, 2025. With a current market capitalization of $259 million, Anew Health is well-positioned to attract investor interest through this IPO.
Company Overview and Services
Anew Health operates under the brand name ANKH, which stands for “A New Key to Health.” The company aims to provide not just relief from pain but also to promote overall health and vitality. Their services include a variety of non-surgical, non-invasive, and non-pharmacological treatments aimed at pain management and functional enhancement.
The company employs a distinct approach known as the RDS+ method, which focuses on restoring, detoxifying, and strengthening the body. This approach integrates principles from Traditional Chinese Medicine (TCM) with modern technology and treatment devices. The RDS+ methodology aims to address both the symptoms and root causes of pain, potentially reducing the likelihood of recurrence.
The company’s treatments utilize a range of techniques, including laser therapy, bioelectrical currents, electromagnetic therapy, radiofrequency, and ultrasound. Anew Health’s holistic approach is grounded in TCM concepts, particularly the meridian system, which emphasizes the flow of vital energy, or Qi, throughout the body. According to TCM, disturbances in the flow of Qi can lead to pain and other health issues.
Investment and Underwriting Details
The IPO is underwritten by D. Boral Capital, formerly known as EF Hutton, a firm specializing in capital raising for emerging companies. The proceeds from this offering are intended to bolster Anew Health’s operational capabilities and expand its market presence.
As the company prepares for its IPO, it highlights its commitment to innovative health solutions and its vision of enhancing quality of life through effective pain management. Anew Health has grown its workforce to 245 employees, underscoring its operational capacity and commitment to providing quality health services.
Investors interested in participating in Anew Health’s IPO can expect a company that not only has a strong financial foundation but also a clear mission to improve the well-being of its clients. The blend of traditional practices and advanced technologies positions Anew Health as a notable player in the health services market.
For additional inquiries, Anew Health can be contacted at their headquarters located at Unit 2301-05, 23/F, Tower 5, The Gateway Harbour City, 15 Canton Road Tsim Sha Tsui, Kowloon, Hong Kong. They can also be reached via telephone at +852 3845 5012 or through their website at https://www.ankh.com.hk/.
