Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lutronic-corp" target="_blank" data-smartkarma-citation="entities:2250:1" rel="noopener">Lutronic Corp (085370 KS)</a> recorded its highest ever revenue and operating profit in 2022, driven by strong performance of overseas business, which contributed 88% of revenue and grew 62% YoY.</li>
<li>Overall, business has recovered with the reopening of the dermatology clinics and resumption of elective procedures globally. In addition to product sales, sales of consumables and services are steadily increasing.</li>
<li>Despite stellar performance in 2022, ongoing lawsuit against U.S.-based competitor remains an overhang on Lutronic’s overseas growth aspirations, especially in the U.S.</li>
</ul>



Lutronic Corp (085370 KS) recorded its highest ever revenue and operating profit in 2022, driven by strong performance of overseas business, which contributed 88% of revenue and grew 62% YoY.
Overall, business has recovered with the reopening of the dermatology clinics and resumption of elective procedures globally. In addition to product sales, sales of consumables and services are steadily increasing.
Despite stellar performance in 2022, ongoing lawsuit against U.S.-based competitor remains an overhang on Lutronic’s overseas growth aspirations, especially in the U.S.


Lutronic Corp (085370 KS): Record-High Performance in 2022; Litigation May Limit Upside Potential

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/candela-medical" target="_blank" data-smartkarma-citation="entities:34483:1" rel="noopener">Candela Medical (CDLA US)</a> , pioneer and leader in medical aesthetics market, announced terms of upcoming IPO. A non-surgical aesthetic device company to offer ~14.7 million shares at expected price range of $16-$18 per share, what implies a market cap of ~$1.7 billion at midpoint of the price range. This is the second IPO of leading player in global aesthetics market for the last two years after InMode went public in 2019 and the shares rose more than fivefold since IPO. Candela Medical shares are expected to begin trading on Nasdaq Global Market under the trading symbol “CDLA”. Bank of America, Goldman Sachs and Barclays are leading the IPO.</p>

Candela Medical (CDLA US) , pioneer and leader in medical aesthetics market, announced terms of upcoming IPO. A non-surgical aesthetic device company to offer ~14.7 million shares at expected price range of $16-$18 per share, what implies a market cap of ~$1.7 billion at midpoint of the price range. This is the second IPO of leading player in global aesthetics market for the last two years after InMode went public in 2019 and the shares rose more than fivefold since IPO. Candela Medical shares are expected to begin trading on Nasdaq Global Market under the trading symbol “CDLA”. Bank of America, Goldman Sachs and Barclays are leading the IPO.

Candela Medical IPO: InMode’s Competitor Filed To Go Public

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>Sisram Medical is raising up to USD174m in its Hong Kong listing. Sisram Medical is an Israel headquartered meditech company with backing from China-based <a href="https://www.smartkarma.com/entities/8045" target="_blank" data-smartkarma-citation="entities:8045:1">Shanghai Fosun Pharmaceutical (Group) (2196 HK)</a>. In this insight, we will cover the company's background, its growth drivers, financial highlights, and score the deal in our ECM Framework. </p>

Sisram Medical is raising up to USD174m in its Hong Kong listing. Sisram Medical is an Israel headquartered meditech company with backing from China-based Shanghai Fosun Pharmaceutical (Group) (2196 HK). In this insight, we will cover the company's background, its growth drivers, financial highlights, and score the deal in our ECM Framework. 

Sisram Medical IPO: Israeli Technology, China Story

United States

Cutera, Inc. develops and manufactures aesthetic laser systems.  The Company markets the CoolGlide family of products for removal of unwanted hair and treatment of vascular lesions.  Cutera markets the systems to dermatologists, plastic surgeons, and other practitioners worldwide.

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Cutera Inc (CUTR US)

Lutronic Corp (085370 KS): Record-High Performance in 2022; Litigation May Limit Upside Potential

Lutronic recorded its highest ever revenue and operating profit in 2022, driven by strong performance of overseas business. However, litigation...

Tina Banerjee

Candela Medical IPO: InMode’s Competitor Filed To Go Public

Candela Medical, leading global aesthetic device company and one of the key competitors of InMode, plans to raise ~$250M at midpoint of the price...

Andrei Zakharov

Sisram Medical IPO: Israeli Technology, China Story

Sisram Medical is raising up to USD174m in its Hong Kong listing. Sisram Medical is an Israel headquartered meditech company with backing from...

Ke Yan, CFA, FRM

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