O’Melveny Worldwide

O’Melveny Advises Gaush in US$86 Million Hong Kong IPO

December 12, 2022



HONG KONG, DECEMBER 12, 2022 — O’Melveny advised Gaush Meditech Ltd. in its recent IPO and listing on the Hong Kong Stock Exchange. The IPO offering size was approximately HK$672 million (US$86 million), prior to the exercise of the over-allotment option. Assuming full exercise of the over-allotment option, the offering size will be approximately HK$772 million (US$99 million). Morgan Stanley and Haitong International were the joint sponsors. O’Melveny advised Gaush on U.S. laws.

Gaush is an ophthalmic medical device provider in China. The Company distributes a broad product portfolio covering all seven ophthalmology sub-specialties where ophthalmic medical devices are utilized for their diagnosis, treatment or surgeries, being vitreoretinal diseases, cataracts, refractive surgery, glaucoma, ocular surface diseases, optometry and pediatric ophthalmology. Gaush is the largest domestic player and the fourth largest player in terms of revenue in 2021 with a market share of 6.7% in China’s ophthalmic medical device market, which is dominated by overseas competitors and highly competitive, according to Frost & Sullivan.

The O’Melveny team representing Gaush was led by corporate partners Ke Geng and Ke Zhu, and included counsel Qianyu Hu and legal consultant Keren He. The firm’s  San Francisco, Washington DC, and New York offices also supported the transaction.

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Shannon Lynch
O’Melveny & Myers LLP
+1 212 326 2218

Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000