Encore Medical, Inc. (EMI) is an upcoming US IPO on the NYSE American. The company is a medical device firm specializing in minimally invasive transcatheter implants for closing cardiac defects (mainly PFO and ASD). It already has CE Mark approval in Europe with over 35,000 implants performed globally and is now seeking FDA approval for the US market.
Encore Medical, Inc. (EMI) IPO – Key Details & GMP Update
| Particulars | Details |
|---|---|
| IPO Name | Encore Medical, Inc. (EMI) |
| Symbol | EMI |
| Exchange | NYSE American |
| Industry | Medical Devices – Cardiac Implants (Structural Heart) |
| Issue Size | $15 Million |
| Shares Offered | 3,000,000 shares |
| Issue Price | $5.00 per share (fixed price) |
| Post-IPO Market Cap | Approx. $49 Million |
| GMP (Grey Market Premium) | N/A – No grey market premium reported (US IPOs do not have organised grey market like Indian IPOs) |
| Estimated Listing Price | To be observed on listing day (no reliable GMP-based estimate available) |
| Expected Listing Date | April 15, 2026 (Wednesday) |
| Underwriters | Oak Ridge Financial Services Group & Dawson James Securities (Joint Bookrunners) |
| Use of Proceeds | Primarily to fund ongoing US FDA clinical trials for PFO (stroke prevention) and migraine indications |
| Company Revenue (LTM) | $1.88 Million (as of Sep 30, 2025) |
| Net Income (LTM) | -$1.23 Million |
| Founded | 2017 (Minnesota, USA) |
| Employees | 16 |
| Key Product Status | CE Mark approved in EU; ~35,000 implants done globally; FDA IDE trial ongoing for US approval |
| IPO Filing Date | September 15, 2025 |
| Terms Finalised | December 30, 2025 |
Quick Highlights :
- Business Focus: Encore Medical develops patented transcatheter devices to close holes in the heart (PFO & ASD) without open-heart surgery. PFO affects ~25% of adults and is linked to cryptogenic strokes and migraines.
- Growth Driver: Strong international experience; the IPO proceeds will accelerate US regulatory approval and commercial launch.
- Risk Note: Small-cap IPO with limited revenue and ongoing clinical trials. Typical for early-stage med-tech companies.
- GMP Note for Investors: Unlike Indian IPOs, US IPO grey market premium (GMP) data is not publicly tracked or reliable. Actual listing performance will depend on market sentiment and demand on April 15, 2026.
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