Deal profile | Gadens advises 4DMedical on successful ASX listing

Gadens has advised 4DMedical Limited (4DMedical) on its A$55.79 million initial public offering (IPO) and its successful listing on the Australian Securities Exchange (ASX).

4DMedical, a lung imaging technology specialist, announced an IPO last month and will begin trading on the ASX today (Friday, 7 August 2020), one week earlier than planned.

4DMedical’s patented XV Technology™ provides four-dimensional respiratory analysis, enabling highly detailed maps of patients’ lung function. The technology is non-invasive and improves the ability of physicians to diagnose and manage lung diseases. The adoption of a software-as-a-service model also allows for rapid scalability.

The team at Gadens worked closely with the management team and board at 4DMedical on successful completion of the IPO and ASX listing. The IPO was completed ahead of schedule in response to high demand, with the money raised directed toward product research and advancing technology. Gadens’ corporate team was supported by other specialist teams within the firm.

“It was a pleasure working with the 4DMedical team and its other advisers on this important moment in the company’s history. The success of the IPO in challenging economic times is a testament to the focus and hard work of the management team. We wish 4DMedical every success and look forward to working with the business in its new life as a listed company”, commented Jol Rogers, Gadens’ partner who led the team.

Professor Andreas Fouras, CEO of 4DMedical, said of the successful listing: “We are pleased to work closely again with Gadens. The Gadens team did an exceptional job to support completion of our IPO in difficult market conditions and on an ever compressing timeframe.”

Gadens partner James Beckley added: “4DMedical have a first class team, story, culture and, above all, product offering that has the real potential to revolutionise their field and improve the health outcomes for millions globally. Gadens was again delighted to assist management and the Board across this milestone transaction, which provides 4DMedical the footing to pursue their ambitious growth strategy.”

Deal value: A$55.79 million raised with A$193 million market capitalisation on listing.

Practice group: Corporate/ECM.

Key team members: Gadens partner Jol Rogers led the IPO process with partner James Beckley, supported by Melissa Phillips (Senior Associate) and William Zhang (Associate). Partner Brett Feltham supported on specialist employment issues.