MED EIBY Holding Co., Ltd. (Bestman)

General Information

MED EIBY Holding Co., Ltd. is a holding company incorporated in the Cayman Islands. The company is in the medical device manufacturing and export business through two operating entities in the People’s Republic of China:

-Shenzhen Bestman Precision Instruments Co. makes and sells Class I and Class II medical devices under its own brands: fetal dopplers, fetal/maternal monitors, ultrasonic vascular doppler detectors, vine finders and feeding pumps.

-Nanjing Yonglei, which exports Class I and Class II medical devices. 

**Note: The Cayman Islands holding company is issuing the shares in the IPO – and NOT the operating entities in China. 

**Note: On Feb. 22, 2023, our shareholders and board of directors approved a forward split of our outstanding ordinary shares at a ratio of 500-for-1 share. 

The PRC operating entities sell their products both domestically and internationally. Besides significant domestic sales in China, the PRC operating entities’ export sales have expanded to more than 100 countries across the world. In 2003, Shenzhen Bestman obtained an ISO-9001 certificate and, in 2005, it received an ISO-13485 certificate. As of the date of this prospectus, both the ISO-9001 and ISO-13484 certificates are effective. The current effective ISO-13485 certificate will expire on Sept. 27, 2024, and the current effective ISO-9001 certificate will expire on Sept. 14, 2024.

In addition, Shenzhen Bestman’s product, fetal doppler (models: BF-500B, BF-500+, and BF500++), received United States Food and Drug Administration’s, or the FDA’s, approvals in 2010. The most recent registration renewal was in October 2022 and will be valid through Dec. 31, 2023. 

Yong Bai, our founder and chief engineer, has served as our chairman of the Board of Directors and our CEO since May 25, 2022. He founded Shenzhen Bestman in August 2001. He has extensive experience of over 30 years in the medical device industry. Mr. Bai was one of the drafters of the YY0164 ultrasound doppler monitor standards. 

Yufang Li has served as our CFO since May 25, 2022. Ms. Li joined Shenzhen Bestman in February 2018 as an accountant and later assumed the position of the lead accountant. Before joining Shenzhen Bestman, from July 2016 to July 2017, Ms. Li worked for Hengqi Education Co., Ltd., an education agency, as an accountant. 

Note: Net loss and revenue figures are in U.S. dollars for the fiscal year that ended June 30, 2022. 

(Note: MED EIBY Holding Co., Ltd., aka Bestman, filed an F-1/A dated Nov. 9, 2023, in which it tweaked its IPO’s terms by stating that the price range was $4.00 to $6.00 – a change from the assumed IPO price of $5.00 in the original terms. The number of shares – 4.0 million – remained the same. Background: MED EIBY Holding Co., Ltd., aka Bestman, filed its F-1 and disclosed its IPO terms on Feb. 24, 2023.)

Industry: Surgical & Medical Instruments & Apparatus
Employees: 58
Founded: 2001
Contact Information
Address 8th Floor, Yifang Building, No. 315 Shuangming Avenue, Dongzhou Community, Guangming Street, Guangming District, Shenzhen, Guangdong, People’s Republic of China, 518107
Phone Number 0755- 26416184
Web Address
View Prospectus: MED EIBY Holding Co., Ltd. (Bestman)
Financial Information
Market Cap $83.41mil
Revenues $3.32 mil (last 12 months)
Net Income $-0.7 mil (last 12 months)
IPO Profile
Symbol BSME
Exchange NASDAQ
Shares (millions): 4.0
Price range $4.00 - $6.00
Est. $ Volume $20.0 mil
Manager / Joint Managers Boustead Securities
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change