医疗IPO寒流中逆袭！AI脊柱手术商Carlsmed(CARL.US)冲刺美股IPO 拟募资1.072亿美元

Company Overview - Carlsmed Inc. plans to raise up to $107.2 million through an IPO, with a proposed share price range of $14 to $16 for 6.7 million shares, potentially valuing the company at approximately $424.3 million [1][2] - The company specializes in personalized surgical solutions and custom spinal implants using its AI technology platform, aprevo, which is currently approved for lumbar fusion surgeries [2] Financial Performance - For the first three months of 2025, Carlsmed reported revenues of $10.2 million and a net loss of $5.7 million, compared to revenues of $5.1 million and a net loss of $5.4 million in the same period the previous year [1] Market Context - The healthcare sector's IPO financing has been sluggish, with only $2.1 billion raised by new companies in this sector in 2025, representing a decline of over 40% compared to the same period in 2024 [1] - Carlsmed's major investors include B Capital Group and US Venture Partners, holding 35.1% and 28.3% of shares respectively prior to the IPO [2] Technology Development - The company is developing a version of its aprevo platform for cervical fusion surgeries, expected to be commercially available by 2026 [2] - As of March 2025, approximately 177 surgeons have utilized the aprevo platform for surgeries, an increase from 103 surgeons in the previous year [2] IPO Details - The IPO is being led by Bank of America, Goldman Sachs, and Piper Sandler Cos., with the stock expected to trade under the ticker symbol CARL on the Nasdaq Global Select Market [2]