Basel Medical receives IPO guidance from Maples Group for NASDAQ listing.
Published on 24th April 2025
Riding the NASDAQ Wave: Basel Medical Makes History
In a groundbreaking move, Singapore-based med-tech company, Basel Medical Group Ltd, spearheaded by orthopedic and neurosurgery specialists, successfully raised USD 10.12 million on the NASDAQ through an IPO, making it the first med-tech firm from Singapore to do so this year. The rollercoaster ride was expertly steered by international law firm Maples and Calder, a part of the Maples Group.
This multijurisdictional transaction, involving coordination among Singapore, New York, and the BVI, was masterfully facilitated by the BVI office of Maples and Calder, led by Managing Partner Chris Newton, and backed by Corporate Associates Chloe Harris and Elliot Ruffle. Their BVI corporate advice was instrumental in guiding Basel Medical Group through the complex NASDAQ listing regulatory landscape.
Based in Singapore, Basel Medical Group delivers a wide range of clinical services, including sports medicine and surgery, orthopedic and trauma services, orthopedic procedures, and neurosurgical treatments across Southeast Asia. The USD 10.12 million raised will be used to bolster the company by adding clinic spaces, enhancing auxiliary services such as X-ray, physiotherapy, and laboratory testing, hiring more staff, upgrading technology systems, and funding daily operations.
Following the closing of the IPO, Basel Medical Group seized the over-allotment option, raising an additional USD 1.32 million. This move demonstrates the confidence investors have in the company's vision and growth potential.
Chris Newton, Managing Partner of the BVI office, expressed pride in helping Basel Medical Group reach this significant milestone. He further noted that this transaction showcases the Maples Group's strong BVI counsel, which continues to be indispensable for clients aiming to access the US public markets.
As Basel Medical Group gears up to expand its footprint and operations, the role of Maples and Calder can hardly be overstated. The impact of this IPO is set to ripple through the med-tech sector in Singapore and beyond. Let the game changers rise!
- The BVI office of Maples and Calder, led by Managing Partner Chris Newton and backed by Corporate Associates Chloe Harris and Elliot Ruffle, facilitated Basel Medical Group's successful IPO on NASDAQ.
- Basel Medical Group, a Singapore-based med-tech company specializing in neurosurgical treatments, sports medicine, and orthopedic services, plans to use the raised funds for upgrading technology systems, hiring staff, adding clinic spaces, enhancing auxiliary services, and funding daily operations.
- After the IPO closing, Basel Medical Group exercised the over-allotment option, raising an additional USD 1.32 million, demonstrating investors' confidence in the company's vision and growth potential.
- Chris Newton, Managing Partner of the BVI office of Maples and Calder, expressed pride in helping Basel Medical Group achieve this significant milestone, showcasing the Maples Group's strong BVI counsel as an indispensable resource for clients aiming to access the US public markets.
