Medtech Company G Medical Innovation Files for Nasdaq IPO

Sidney-listed medtech company G Medical Innovation Holdings Ltd. has filed for a Nasdaq initial public offering on Friday with the U.S. Securities and Exchange Commission. The Cayman Islands-headquartered company is looking to raise $15 million under the ticker GMVD, with H.C. Wainwright & Co. as the sole bookrunner.

Founded in 2014, G Medical is an early stage company developing mobile and e-health monitoring products for the U.K. and U.S. markets. The company's management and research and development team is based in Israel. It has several global subsidiaries, including a manufacturing facility in China, but currently manufactures all products via a third party in Israel. G Medical reported revenues of $3 million for the fiscal year 2018, and gross profit of $68,000.