Hong Kong’s Regulatory Support and Connector Role Boost Foreign Investment: Medical Tech Firms Benefit, Attracting $7.7M through InvestHK Assistance

Regulatory backing and a bridge function in Hong Kong are attracting investors, according to medical tech companies. InvestHK has facilitated the growth or establishment of nine medical tech firms, drawing in investments worth US$7.7 million.

Hong Kong provides robust regulatory backing for overseas businesses looking to set up their activities in the city, according to some investors. Its position as a bridge between mainland China and international markets is also enhancing its attractiveness as a center for medical technology companies.

Time Medical, a medical imaging firm based in Hong Kong and originating from Columbia University, had to undergo a lengthy approval process, according to its COO Simon Yeung. The process for the company's MRI machine for infants in the US could have taken up to five years. However, doing the preliminary work in Hong Kong significantly shortened the process to only a few months, Yeung further explained.

This is a testament to InvestHK, a governmental organization responsible for drawing foreign investment to the financial center. They assisted Yeung and his crew in establishing and operating their business.

"We had a productive discussion with InvestHK which gave us a clear understanding of what needed to be done in advance," stated Yeung. "All the foundational work, encompassing testing and clinical trials, was carried out in Hong Kong," which hastened the approval process, he further explained.