Euronext congratulates HealthBeacon, an Irish digital therapeutics company that develops products for managing injectable medications for people in the home, on its listing on Euronext Growth Dublin (ticker code: HBCN). It is the first alumnus of Euronext’s pre-IPO programme, IPOready, to list on Euronext markets.
The HealthBeacon injection care management system is the world’s first FDA cleared smart sharps bin that tracks adherence and persistence with medication schedules through the provision of medication management reminders, safe and sustainable sharps disposal devices, educational tools and AI-driven data analytics. The company is expecting approximately ten-fold increase in the number of patients using its systems from the end of 2021 to the end of 2023. HealthBeacon intends to use the proceeds from the placing to (i) scale its team to support growth across sales and marketing, customer support and operations, finance and product development (ii) invest in inventory and working capital to support product roll out and (iii) further develop its platform in respect of technology development, research and development and develop a pipeline of future products.
HealthBeacon was listed through the admission to trading of the 16,812,047 shares making up its equity and of 4,273,504 new shares issued in the placement phase, after full exercise of the extension option and over-allotment option.
The admission and issue price of HealthBeacon shares was set at €5.85 per share. Market capitalisation was €98.35 million on the day of listing. The Initial Public Offering (IPO) raised €25 million altogether.
Jim Joyce, CEO of HealthBeacon, said: “HealthBeacon is delighted to be joining Euronext Growth in what is another important milestone on our journey towards connecting people to better health through digitally enabled solutions. The support from investors through this listing is transformative for the business, enabling us to scale to meet potential demand, as we aim to become the world’s leading digital therapeutics platform for injectable medications. We are excited for our next phase of growth as a public company, backed by the potential of our target market and the proven ability for our product to meaningfully increase medical adherence for patients in a safe and sustainable way.”
