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Clifford Chance

Clifford Chance

Briefings

Year in Review - Survey of U.S. and Selected International Health Care IPOs During 2019

26 February 2020

During 2019, the U.S. market for initial public offerings (IPOs) saw similar activity levels as compared to 2018. A total of 72 companies in the health care sector completed IPOs registered with the U.S. Securities and Exchange Commission (SEC) in connection with listing on a U.S. exchange (U.S. Health Care IPOs). Of these U.S. Health Care IPOs, 13 were completed by non-U.S. companies that qualified as foreign private issuers (FPIs).

In addition, our survey covers 20 international health care sector IPOs that were listed on a non-U.S. exchange and offered to U.S. institutional investors pursuant to Rule 144A under the U.S. Securities Act of 1933 (International Health Care IPOs). Over two-thirds of these were listed on the Hong Kong Stock Exchange.

We have developed this survey to provide information to our clients and other interested parties about these 2019 U.S. and International Health Care IPOs. Our survey focuses primarily on U.S. Health Care IPOs. In addition, as noted above, we present certain information regarding selected International Health Care Sector IPOs. The charts in our survey reflect selected statistics regarding these IPOs that we believe provide useful information about the characteristics of these offerings and related market practices.

We hope you find this survey helpful in developing an understanding of U.S. and International Health Care IPOs.

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