Jiangxi Rimag Group Co., Ltd. (Rimag or the Company, together with its subsidiaries, the Group, HKG: 2522.), a leading medical group specialized in medical imaging in China, was officially listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (the Stock Exchange) at 9:00 a.m. today.
The Global Offering involves a total of 17,816,000 Shares (assuming the over-allotment option is not exercised) at a final Offer Price of HK$14.98 per Offer Share. The net proceeds from the Global Offering, after deducting underwriting fees and expenses paid and payable in connection with the Global Offering, are estimated to be approximately HK$183.48 million. The Hong Kong Public Offering was oversubscribed, with valid applications received for approximately 336.33 times the total number of Offer Shares initially available for subscription, and the International Offering was also oversubscribed by approximately 1.24 times. The final number of Offer Shares under the Hong Kong Public Offering and the International Offering were 8,908,000 and 8,908,000 respectively, each representing approximately 50% and 50% of the total number of Offer Shares available for subscription under the Global Offering.
Rimag is a leading medical group specialized in medical imaging in China. In 2023, Rimag ranked first among all PRC third-party medical imaging center operators in terms of the number of medical imaging centers in the network, number of units of equipment, number of registrations by practicing radiologists who are registered with Rimag as the primary workplace, average daily screening volume and fees paid by patients; and in terms of revenue generated from imaging center services in 2023, Rimag ranked second among all PRC third-party medical imaging center operators, according to Frost & Sullivan.
According to the same source, the PRC third-party medical imaging center market is a fast-growing segment whose market size grew at a CAGR of 29.0% from 2018 to 2023 and is expected to grow with a CAGR of 33.5% from 2023 to 2026. Against this backdrop, Rimag has seized the opportunity of the booming medical imaging market to become the only operator and manager of a medical imaging platform that provides diversified imaging services and value to the entire medical imaging industry chain in China. Rimag has created integrated one-stop business network centered around the three core businesses of imaging center services, imaging solution services and Rimag Cloud services to meet the growing demand for medical imaging services of medical institutions and individuals.
Rimag proposes the innovative concept of “clinically targeted imaging services” and utilizes efficient and standardized development and operational management systems to enable rapid business expansion. The Company strives to establish and operate a medical imaging center network and explore service models under the hierarchical diagnosis and treatment system in China with the aim to promote the extension of quality medical resources to the primary healthcare system and balance the distribution of such resources in line with aforementioned favorable policies and industry trends since its inception. Covering 17 provinces, autonomous regions and municipalities and spanning first- and second-tier cities to 59 county-level divisions, Rimag’s comprehensive medical imaging center network consists of 97 imaging centers, including 9 flagship imaging centers, 24 regional collaborative imaging centers, 50 specialized medical consortium imaging centers and 14 operational management imaging centers as of December 31, 2023.
Having been founded for almost 10 years, Rimag has accumulated a wealth of experience in medical imaging services, successfully established a comprehensive imaging center development system and secured a leading position in the industry. In the future, Rimag is further expected to expand its medical imaging center network and enrich the offerings of imaging solution services, continually invest in R&D, strengthen the capabilities of Rimag Imaging Academy, and enhance strategic cooperation with industry upstream and downstream stakeholders to establish a dominant medical imaging solution service platform. By doing so, the Company expects to be able to provide patients and healthcare consumers with a better medical imaging experience, enable clinicians to obtain more accurate diagnostic imaging results, and allow radiologists to realize greater professional value through Rimag’s platform.
About Jiangxi Rimag Group Co., Ltd.
Jiangxi Rimag Group Co., Ltd. (Rimag or the Company, together with its subsidiaries, the Group, HKG: 2522), a leading medical group specialized in medical imaging in China, mainly generates revenue from the three core businesses of imaging center services, imaging solution services and Rimag Cloud services. In 2023, the Company ranked first among all PRC third-party medical imaging center operators in terms of the number of medical imaging centers in the network, number of units of equipment, number of registrations by practicing radiologists who are registered with the Company as the primary workplace, average daily screening volume and fees paid by patients; and in terms of revenue generated from imaging center services in 2023, the Company ranked second among all PRC third-party medical imaging center operators in China, according to Frost & Sullivan.
This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Rimag. For further information, please contact: Porda Havas International Finance Communications Group.
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