Baird Medical Lists in the U.S. on the Nasdaq Exchange

Rhea-AI Summary

Baird Medical Investment Holdings (NASDAQ: BDMD) has successfully listed on the Nasdaq exchange, marking its transition to a public company. The company, a leading microwave ablation (MWA) medical device developer in China, began trading under the ticker symbol 'BDMD' on October 2, 2024. This milestone follows Baird Medical's recent expansion into the U.S. market after receiving FDA 510(k) clearances.

Co-Founder Wenyuan Wu rang the Opening Bell to celebrate the occasion. The company's technology offers a minimally invasive alternative to thyroidectomy for patients with benign thyroid tumors, addressing a significant market need in the U.S., where 150,000 thyroidectomies are performed annually. Baird Medical's MWA technology aims to provide safer and more efficient procedures for thyroid care, benefiting both patients and physicians.

Positive

• Successful listing on Nasdaq exchange, expanding visibility and potential investor base
• Recent FDA 510(k) clearances for U.S. market entry
• Addressing a significant market need with 150,000 annual thyroidectomies in the U.S.
• Offering minimally invasive alternative to traditional thyroid surgery

Negative

• None.

Company Rings Opening Bell to Celebrate Closure of Business Combination and Begins Journey as a Public Company; Shares trade under "BDMD" Ticker

FORT MILL, S.C., Oct. 9, 2024 /PRNewswire/ -- Baird Medical Investment Holdings Ltd. (NASDAQ: BDMD) ("Baird Medical" or the "Company"), a leading microwave ablation ("MWA") medical device developer and provider in China which has recently expanded into the U.S. market following its receipt of US FDA 510(k) clearances, today announced a successful listing in the U.S. on the Nasdaq exchange. With shares trading under the ticker symbol "BDMD" on October 2, 2024, this important milestone marks the successful closure of its business combination and signifies its journey as a public company. In honor of the occasion, Wenyuan Wu, Baird Medical's Co-Founder, rang the Opening Bell together with other executives, partners and friends of the company.

"Becoming a public company in the United States is both a critical juncture for us and signifies our shift toward addressing unmet needs in the market," said Wenyuan Wu, Baird Medical's Co-Founder. "Our technology benefits patient and physician alike in enabling safer, more efficient and attractive procedures for thyroid care. We are delighted to fill this pressing need as we grow our business."

The Nasdaq listing comes as the Company expands its footprint in the U.S. market following recent FDA clearance for its minimally invasive microwave ablation technology, which offers a promising alternative to thyroidectomy for patients with benign thyroid tumors. Currently, 150,000 thyroidectomies are performed in the U.S. annually.

About Baird Medical

Established in 2012 and headquartered in Guangzhou, China, Baird Medical is a leading microwave ablation ("MWA") medical device manufacturer and provider in China and a recent entrant to the United States market. Baird Medical's proprietary medical devices are used for the treatment of benign and malignant tumors including thyroid nodules, liver cancer, lung cancer and breast lumps. Baird Medical is the first company to obtain a Class III medical devices registration certificate for MWA medical devices specifically indicated for thyroid nodules in China. For more information, please visit http://www.bairdmed.com/.

Contacts
Investor Relations
Robin Yang, Partner
ICR, LLC
Phone: +1 (646) 308-1475
Email: BairdMedical.IR@icrinc.com

Public Relations
Brad Burgess, Senior Vice President
ICR, LLC
Phone: +1 (646) 588-0383
Email: BairdMedical.PR@icrinc.com

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SOURCE Baird Medical Investment Holdings Ltd.

FAQ

When did Baird Medical (BDMD) begin trading on the Nasdaq exchange?

Baird Medical (BDMD) began trading on the Nasdaq exchange on October 2, 2024.

What is Baird Medical's (BDMD) main product or technology?

Baird Medical (BDMD) specializes in microwave ablation (MWA) medical device technology, offering a minimally invasive alternative to thyroidectomy for patients with benign thyroid tumors.

How many thyroidectomies are performed annually in the U.S. market that Baird Medical (BDMD) is targeting?

According to the press release, 150,000 thyroidectomies are performed annually in the U.S., representing the market that Baird Medical (BDMD) is targeting with its microwave ablation technology.

What recent regulatory approval did Baird Medical (BDMD) receive for the U.S. market?

Baird Medical (BDMD) recently received FDA 510(k) clearances for its minimally invasive microwave ablation technology, allowing the company to expand into the U.S. market.