Restoration Robotics has released the terms of its IPO
Established in 2002, Restoration Robotics has recently listed the terms for its Initial Public Offering (IPO). The company works to support medical professionals throughout a patients’ hair restoration surgery, a niche area that is somewhat becoming a lucrative market.
The private company will look to offer over three million shares, with a price range of $7 to $9 within its upcoming flotation. If successful, Restoration Robotics would gain an overall market value of over $220 million, and will be listed on the Nasdaq under the HAIR symbol in October.
National Securities Corporation has been announced as the sole party, with Roth Capital Partners and Craig-Hallum Capital Group acting as co-managers, according to Market Watch.
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Restoration Robotics’ Artas Robotic Hair Transplant System has become what the company describes as “the first and only physician-assisted system to harvest follicular units directly from the scalp to create recipient implant sites using proprietary algorithms.”
With long-standing expertise in machine vision and robotics, the Artas system can support physicians throughout the complex process, such as the dissection of hair follicles within a two-step procedure, providing support with repetitive processes that demand precision.
Guaranteeing increased patient satisfaction, the system utilises intelligent algorithms and is minimally invasive, providing long-term results.
The company has since raised over $20 million from a private investor.