The Zhitong Finance App learned that on July 14, Zhuhai Pusheng Medical Technology Co., Ltd. (abbreviation: Pussen Healthcare) applied for listing on the Shanghai Stock Exchange Science and Technology Innovation Board and changed its review status to “Inquired”. CITIC Securities is the sponsor and plans to raise 702 million yuan.
According to the prospectus, Pussen Healthcare is an innovative medical device company focusing on the development and manufacture of disposable medical endoscopes. It was founded in 2014. After more than ten years of development, it has become a global technology leader, market pioneer and industry leader in the field of disposable medical endoscopes.
In March 2016, the company and global medical industry giant Boston Scientific announced a disposable electronic ureteropyropyeloscope (hereinafter referred to as “disposable ureteral softscope”) at the 31st EAU (European AssociationOfUrology) annual conference in Munich, Germany. In April 2016, the company's disposable ureteral endoscope obtained CE certification from the European Union. According to public information and industry research, the company is the first manufacturer in China and the second in the world to obtain CE certification for this category of medical devices, and has a significant first-mover advantage in the global early clinical application of disposable ureteral softgels. In May 2017, the company obtained 510 (k) approval from the US FDA. It was the first domestic company and the second company in the world to receive approval for this type of product, and entered the US market for commercialization under its own brand PUSEN. In June 2020, the company obtained a Class III medical device registration certificate issued by the China National Drug Administration (NMPA), and officially began the commercialization process in the Chinese market.
On the basis of being deeply involved in the field of urology, the company has transformed from a product company to a platform-based company, expanding the product line to multiple specialty fields of disposable endoscopes, forming a product matrix of surgical product lines, internal medicine product lines and supporting devices. Among them: the surgical product line has launched a variety of disposable ureteral sofoscopes, disposable cystoscopes, disposable biliary sofoscopes, etc.; the internal medicine product line has launched a variety of disposable bronchoscopes, etc., covering different application scenarios such as urology, hepatobiliary surgery, and respiratory medicine. The products have been approved in many regions around the world, such as China, the United States and the European Union. Listed for sale.
In response to pain points such as the use of traditional multiplexed endoscopes, the complexity of elimination, and cross-infection, the company successfully achieved large-scale mass production of the UE3022 disposable ureteral sofoscope through ground-level innovation in materials and optoelectronic systems. Based on its deep understanding of clinical practice, the company is deeply involved in the field of disposable ureteral sofoscopy. On the basis of UE3022, after more than ten years of continuous independent research and development, the company has continuously iteratively developed a series of disposable flexible ureteroscope products, and has accumulated a series of core technologies, including ultra-fine outer diameter technology, direct instrument channel technology, direct endoscopic aspiration (DISSTM) technology, and dual channel technology, which have always led the cutting-edge development of the industry.
According to statistics from third-party industry research institutes Insight Consulting, the company's core products have established a significant leading position in the global disposable endoscope market in 2025: in the field of disposable urological endoscopes, the company ranked first in the Chinese market with a market share of 29.8%, and ranked second in the two major global mainstream markets in the US and the European Union with 15.2% and 17.5% market shares respectively (both second only to Ambu, a comparable company in the same industry); in the field of disposable ureteroscopes in the core segment, the flagship category, the company relies on complete global channels and technology Iteration ranked first in the global market with a market share of 20.4%, and successfully achieved commercialization that leapt from local innovation to global industry leader.
On the financial side, in 2023, 2024 and 2025, the company achieved operating income of approximately RMB 252 million, RMB 316 million, and RMB 538 million respectively; net profit for the same period was RMB 69.3567 million, RMB 579.548 million, and RMB 97.2079 million, respectively.
