[Asia Economy Reporter Oh Ju-yeon] Hillserion Co., Ltd., a smart healthcare specialized company, announced on the 10th that it has passed the technical evaluation by professional evaluation agencies, the first hurdle required for the growth-oriented technology special listing being promoted with the lead underwriter.
Hillserion received an A grade from both Korea Enterprise Data and eCredible, the technical evaluation agencies. Companies pursuing growth-oriented special listings must obtain at least a BBB grade from both professional evaluation agencies and at least an A grade from one of them to meet the technical evaluation criteria for technology special listings. Hillserion has selected Daishin Securities as the lead underwriter and is currently pursuing a KOSDAQ listing within the year through the growth-oriented special listing track.
Founded in 2012, Hillserion commercialized the world's first portable wireless ultrasound diagnostic device and was selected as a prospective unicorn company. Recently, it signed a joint research and development L.O.E with the U.S. Military Academy, gaining recognition for product innovation and sustainability in the global market. Based on these ultrasound diagnostic devices and ultrasound technology, the company is expanding its business into platform services fused with the 4th industrial revolution by utilizing information generated from the carotid artery patch under development.
This technical evaluation is interpreted as reflecting Hillserion’s status as a leading company in the high-growth 4th industrial revolution sector, enabling platform services such as applications by utilizing mobile and other ICT technologies for personal medical and health information, beyond being a simple portable ultrasound diagnostic device manufacturer.
Since 2012, Hillserion issued redeemable convertible preferred stocks (RCPS) to institutional investors for about seven years, all of which were converted to common stocks in December last year. As a result, existing investors no longer hold redemption or conversion rights and only exercise common stock rights. This has resolved all capital adequacy issues while aiming for a listing within the year.
CEO Ryu Jung-won said, "The unconditional agreement of all Hillserion investors to convert to common stocks is believed to stem from their deep trust and full support for Hillserion’s vision and business." He added, "With the capital stability issue resolved and the technical evaluation passed smoothly, we will make every effort to list on the KOSDAQ market."
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