Irish digital therapeutics company HealthBeacon intends to raise up to €25m as it lists on the Euronext Growth market of Euronext Dublin on December 15.
HealthBeacon develops products for managing injectable medications for patients in the home and it is aiming to become the world's leading digital therapeutics platform for such medications.
The global digital health market is anticipated to be greater than $500 billion by 2027 and growth is expected to increase by 37.1% this year.
In its placing and proposed admission announcement today, HealthBeacon said it will place 4.3 million ordinary shares at a price of €5.85 per ordinary share.
The Dublin-headquartered company will have a market capitalisation of about €100m at the time of its IPO.
The company operates in 17 countries - mainly across Europe, North America and the UK- and employs more than 50 people.
It has obtained more than 30 design and utility patents and had delivered about.13,500 connected devices and tracked more than 550,000 injections by the end of October this year.
Jim Joyce, CEO and co-founder of HealthBeacon, said the company is at a pivotal stage of its development and this IPO will support the acceleration of its ambitious growth strategy.
"Our fundamental aim is to make our product globally accessible to the tens of millions of patients worldwide that are managing injectable medications in the home," Mr Joyces said.
"The proceeds raised through this IPO will enable us to scale to meet potential demand, as we anticipate a ten-fold increase in the number of patients using our injection care management system by the end of 2023," the CEO said.
"As we embark on our next chapter as a public company, we are excited about the potential of our target market and the proven ability for our product to meaningfully increase medical adherence for patients in a safe and sustainable way," he added.
