Ultra High Point Holdings, which provides IT services to hospitals in Hong Kong, filed on Tuesday with the SEC to raise up to $10 million in an initial public offering.
The company plans to raise $10 million by offering 2.2 million shares (36% secondary) at a price range of $4 to $5. At the midpoint of the proposed range, Ultra High Point Holdings would command a market value of $180 million.
Ultra High Point provides customized and comprehensive healthcare IT solutions and services to public and private hospitals in Hong Kong. Its range of offerings includes designing and building customized hospital information systems (HIS); developing customized Internet of Medical Things (IoMT) solutions; integrating customers' HIS with third-party systems and devices via its proprietary medical integration platform; as well as maintaining and upgrading the healthcare IT solutions it designs, builds, and installs.
The Hong Kong-based company was founded in 2009 and booked $8 million in revenue for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol UHP. Bancroft Capital is the sole bookrunner on the deal.
