LAC Med shares up on market debut

KUALA LUMPUR: As trading on the stock exchange halted for the lunch break, shares in new Main Market entrant LAC Med Bhd were last done at 77 sen, up two sen from its initial public offering price (IPO) of 75 sen.

The counter saw 42.72 million shares changing hands over the first-half of trading in a flat-to-positive price range of 75-79 sen.

The medical devices and integrated solutions provider, which listed on the Main Market of Bursa Malaysia under the "healthcare" category, raised RM55.65mil from its initial public offering (IPO) as it charts its next phase of growth with a broader portfolio of devices and solutions, while extending its presence in Indonesia for a new overseas revenue stream.

The group said it plans to progressively set up branch offices in Sumatra, Surabaya, and Kalimantan to deliver consistent service quality and reliable technical support.

Meanwhile, it aims to strengthen its market position in Malaysia by driving AI‑powered and digital solutions to advance the nation’s healthcare sector. 

"Our goal is to empower healthcare providers to optimise asset utilisation and patient care, while also strengthening our recurring income base to ensure sustainable, long-term growth," said LAC Med group CEO Liew Yoon Poh in a statement.

LAC Med is an authorised distributor for leading international medical brands including Samsung and Philips, with which it had held long‑standing relationships since 2013 and 2017 respectively.

Since 2023, the group has also been appointed as an authorised distributor for Stryker, LG, Epson, SwiftMR, Abbott, annalise.ai, Alpinion, Baxter and Bayer.