LYC Healthcare, a Singapore-based orthopedic and diagnostic imaging provider, has filed and set terms for a $15 million US IPO, positioning itself as one of the newest international healthcare entrants to the Nasdaq. By offering 3 million shares at a range of $4 to $6, the company aims to support its growth strategy while giving investors exposure to Asia’s expanding medical services market.
LYC Healthcare operates a network of musculoskeletal-focused clinics offering orthopedic surgery, sports medicine, diagnostic imaging, and rehabilitative care. Its five medical clinics are supported by in-house MRI, CT, X-ray, ultrasound, and bone density imaging facilities, enabling a vertically integrated care model. The company performs minimally invasive and computer-navigated hip and knee replacements, keyhole procedures, and provides on-site physiotherapy through a multi-year collaboration. Its patient base includes individuals with degenerative joint disorders, spine issues, metabolic disease, osteoporosis, and sports-related injuries. Founded in 2024, LYC Healthcare generated $13 million in revenue over the 12 months ending March 31, 2025, demonstrating early traction in Singapore’s competitive private healthcare sector.
The IPO will offer 3 million shares and is expected to value the company at approximately $128 million at the midpoint of the proposed price range. Although the final trading symbol has not been selected, LYC Healthcare plans to list on the Nasdaq, where it will trade under a placeholder identifier until the official ticker is announced. AC Sunshine Securities will serve as the sole bookrunner on the offering, positioning the company to access US institutional and retail investors.
LYC Healthcare enters the IPO market at a time when global demand for advanced orthopedic and diagnostic services is increasing. Aging populations in Asia and worldwide continue to drive the need for joint replacement surgeries, imaging diagnostics, and early intervention care. Investors have shown renewed interest in specialized healthcare providers with integrated service models, especially those capable of delivering cost-effective and technologically advanced treatments.
Even with its strong clinical positioning, LYC Healthcare faces several challenges. Competition among regional medical groups is intense, and the company’s expansion strategy will require continued investment in technology, facility upgrades, and specialist staffing. Regulatory requirements across healthcare markets can create added complexity should the company pursue growth beyond Singapore. Additionally, its young operating history may raise questions for investors assessing long-term stability and scalability.
As LYC Healthcare prepares for its Nasdaq debut, the key question for investors is whether its integrated musculoskeletal care model and early revenue performance will be enough to attract sustained interest in the US market. With rising global demand for orthopedic and imaging services, the IPO could serve as a strategic launchpad—or remain a modest capital raise depending on how markets respond.
