Basel Medical Group, which operates two medical clinics in Singapore, announced terms for its IPO on Monday.
The Singapore-based company plans to raise $11 million by offering 2.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Basel Medical Group would command a market value of $84 million.
The company, through its two medical clinics in Singapore, provides a range of general and subspecialized orthopedic, trauma and sports medicine services such as knee/hip replacements, sports medicine/surgery, spine surgery, foot/ankle surgery and minimally invasive orthopedic procedures, as well as neurosurgical treatments. The company employs five medical practitioners, comprising four orthopedic specialists and one neurosurgery specialist. Its clinical services provided include consultation, medical diagnosis and medical or surgical treatments for orthopedic, trauma, sports medicine and neurosurgical conditions. It performs a variety of procedures and minor surgical services on site.
Basel Medical Group was founded in 2001 and booked $8 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol BMGL. Cathay Securities is the sole bookrunner on the deal.
