G Medical Innovations Holdings, which provides app-connected medical devices for monitoring vital signs, filed on Thursday with the SEC to raise up to $22 million in an initial public offering. The company was previously listed on the ASX (GMV) but voluntarily delisted from the exchange this past October. This is G Medical Innovations' third US IPO attempt, having previously filed in October 2020, withdrawing the following November, and May 2019, withdrawing the following August.
G Medical Innovations is an early commercial stage healthcare company developing mobile health (mHealth) and telemedicine solutions and monitoring service platforms. Its current product offerings include Prizma medical device, a clinical grade device used to transform smartphones into medical monitoring devices, and Extended Holter Patch System, a multi-channel patient-worn biosensor that captures electrocardiogram data continuously for up to 14 days. The company is also developing a Wireless Vital Signs Monitoring System.
The Rehovot, Israel-based company was founded in 2014 and booked $5 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol GMVD. G Medical Innovations Holdings filed confidentially on January 13, 2021. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.
