<article><a href="https://www.dealstreetasia.com/?s=Venus MedTech" target="_blank" rel="noopener">Venus MedTech</a>, a Chinese developer of heart valve replacements backed by <a href="https://www.dealstreetasia.com/?s=Goldman Sachs Group Inc" target="_blank" rel="noopener">Goldman Sachs Group Inc</a>., is considering a Hong Kong initial public offering, people with knowledge of the matter said.</article>

<a href="https://www.dealstreetasia.com/?s=Venus MedTech" target="_blank" rel="noopener">Venus MedTech</a>, a Chinese developer of heart valve replacements backed by <a href="https://www.dealstreetasia.com/?s=Goldman Sachs Group Inc" target="_blank" rel="noopener">Goldman Sachs Group Inc</a>., is considering a Hong Kong initial public offering, people with knowledge of the matter said.
Venus, based in the eastern Chinese city of Hangzhou, is weighing a plan to sell shares as soon as early next year, according to the people. The medical device maker could seek to raise about $300 million to $500 million, the people said, asking not to be identified because the information is private.
Hong Kong is attracting a wider range of health-care firms after the stock exchange changed its rules to allow IPOs from unprofitable biotech firms. Chinese cancer drug developer BeiGene Ltd., whose New York-traded shares have increased more than sevenfold since listing in 2016, started trading in Hong Kong earlier this month.
Venus, founded in 2009, makes cardiac devices that treat congenital defects as well as valve degeneration in elderly patients that may not be candidates for open-heart surgery, its website shows. Deliberations on a potential listing are at an early stage, and details of the offering could change, said the people.
A representative for Venus declined to comment.
DCP Capital, the China-focused private equity firm run by former KKR &amp; Co. senior executives, invested in Venus earlier this year to fund research and international expansion. Goldman Sachs agreed to a $37 millioninvestment in Venus in 2016. The startup’s other backers include Qiming Venture Partners, Sequoia Capital China and Dinova Venture Capital.
(By Manuel Baigorri, Vinicy Chan, Cathy Chan, and Crystal Tse)

Venus, based in the eastern Chinese city of Hangzhou, is weighing a plan to sell shares as soon as early next year.

Goldman-backed heart valve startup Venus MedTech mulls Hong Kong IPO

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Goldman-backed heart valve startup Venus MedTech mulls Hong Kong IPO

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief