Robotics firm Noah Medical eyes HK listing to tap mainland market

By the Editorial Team · Saturday, August 29, 2026

Noah Medical, a US-based surgical robotics company supported by SoftBank, plans to pursue an IPO in Hong Kong by 2027 to raise over $100 million and expand its market presence in mainland China. The move follows regulatory approval in China and aims to capitalize on Hong Kong’s financial platform to boost sales of its minimally invasive surgical robots in key Chinese cities.

Noah Medical, a US-based surgical robotics firm backed by SoftBank, is preparing for an initial public offering (IPO) in Hong Kong as part of its strategy to expand into the mainland Chinese market. The company, founded in 2018, aims to raise over US$100 million and plans to submit its listing application as early as 2027, according to founder Zhang Jian.

Speaking at MedTech World Asia in Hong Kong, Zhang emphasized the city’s role as an international financial hub with a globally recognized stock exchange, making it a strategic choice for the company’s capital-raising efforts. Noah Medical intends to grow its sales of surgical robots in both leading and emerging cities in mainland China, including Hangzhou, the capital of Zhejiang province.

The company’s technology recently received approval from Chinese regulators in November 2025, which has opened the door for expanding its presence in the region. Hangzhou’s Sir Run Run Shaw Hospital is among the target customers following this regulatory green light. In Hong Kong, the Prince of Wales Hospital has already acquired Noah Medical’s equipment.

Currently, about 90% of the company’s revenue comes from the United States, where its surgical robots have been employed in procedures involving roughly 15,000 patients. The devices are designed to reach internal organs, such as the lungs, through natural body openings like the throat, thereby avoiding skin incisions. This minimally invasive approach reduces localized bleeding and typically shortens hospital stays, with many patients able to leave the hospital on the same day or after an overnight stay. The technique also minimizes scarring.

The robots are priced at approximately 10 million yuan (around HK$11.6 million) per unit in China, and patients are charged about 10,000 yuan per operation. Zhang, who holds a master’s degree and a PhD in mechanical engineering from Columbia University specializing in medical robotics, highlighted these benefits as key factors driving interest in the technology.

Noah Medical’s investor portfolio includes prominent backers such as SoftBank Vision Fund, Lenovo Capital and Incubator, and HongShan Capital Group. As of September 2025, the company was valued at roughly US$571.5 million, according to market data from Forge Global. The planned Hong Kong IPO aligns with a growing trend of advanced technology companies seeking capital in the city to support expansion in mainland China and beyond.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.