Daily Brief Health Care: Dr Agarwal’s Health Care Ltd, Maze Therapeutics, Aardvark Therapeutics, VISEN Pharmaceuticals, Wuhan Dazhong Dental Medical, Molina Healthcare, Humana Inc, Metsera and more

• Dr Agarwal’s Health Care is looking to raise ~$350M from its upcoming India IPO, which is a combination of fresh issue and OFS. The IPO price band is INR382–402.
• The company intends to utilize INR1.95B out of the fresh issue proceeds to repay its debts, which stand at INR3.61B as of December 31, 2024.
• The company’s proven capability to scale up the operation amid cut-throat competition and profitable business operation enhance our conviction on the long-term growth prospect of the company.

• The company has a potential blockbuster treatment for a certain type of chronic kidney disease  affecting millions of Americans.
• The company could raise up to $132.6m if priced at the high-end of the range which would value the company at $728m.
• The sector vastly underperformed in the aftermarket and is looking to start 2025 on the right foot.

• Biotech targeting treatment of obesity and obesity-related conditions, starting with rare hyperphagias filed for its IPO on January 23rd.
• Morgan Stanley, BofA Securities, Cantor, RBC Capital are the bookrunners on this IPO.
• Lead product, ARD-101 is an oral gut-restricted small-molecule agonist of certain TAS2Rs expressed in the gut lumen for which they have initiated a Phase 3 clinical trial for hyperphagia.

• Visen Pharmaceuticals is looking at raising up to USD 300m to list in Hong Kong.
• We look at the company’s core product and highlight two unfavorable trends.
• We are not excited about the company’s fundamentals, and are not keen in the deal.

• In other to attract and retain high-quality dentists, dental services providers need to pay higher salaries than public hospitals, which inevitably drives up manpower costs and drag down profit margin.
• Regulatory pricing controls and centralized procurement policies on dental implants and orthodontic materials will affect the pricing of Dazhong’s dental services, thus put pressure on its future revenue growth.
• The future valuation performance largely depends on if Dazhong is able to expand out of Central China and achieve nationwide coverage. However, so far, no successful cases have emerged.

• Molina offers Managed Medicaid services to low-income individuals on behalf of state governments, receiving a fixed fee per member in exchange for assuming medical risk, managing provider networks, and administering the program
• The company operates in a competitive landscape with few key players in the Managed Medicaid market, giving them an advantage when states put their programs out to bid
• Molina’s successful business model effectively manages Medicaid programs while minimizing risk for state administrators

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Humana provides Medicare Advantage plans to around 6 million members, offering government health insurance for seniors through private insurers
• Medicare Advantage plans limit provider networks, treatments, and incentivize cost-saving behavior to provide efficient and high-quality care
• MA aims to promote value-based care relationships with providers, focus on preventative treatment, and pay for outcomes rather than volume of services provided.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Metsera, Inc. is developing next-generation injectable and oral NuSH analog peptides for obesity treatment.
• ARCH Venture Partners, Google Ventures and Softbank’s Vision Fund are all existing investors in this IPO.
• The company is seeking an IPO valuation nearing $2bn for the company with a Phase III product candidate.