On March 29, DBV Technologies became the fourth health-related company to complete an IPO in France this year. France has reached a 20-year high for the number of health care companies completing IPOs in one quarter. DBV joins Adocia, EOS Imaging and Intrasense as health-related firms that have completed French IPOs this year. Despite the three latter firms accounting for €70 million ($93 million) in stock sales this year, other French health-related companies have shown interest in IPOs as well, including Cerenis, SuperSonic Imagine and Vexim. There are around 300 French biotechnology and medical technology firms. The surge in IPOs is due to support from health care venture funds; the NYSE Alternext, established in 2005 to make it easier for small and medium-size enterprises to sell shares; and tax breaks for firms’ research expenditure. Of the 10 health-related IPOs completed in France in 2010 and 2011, the stock value of only one, dental-implant manufacturer Tekka, has significantly decreased. In contrast to France, no health-related firms have completed IPOs in 2012 in Germany or Switzerland, and just one firm has done so in the UK.

Source: Bloomberg Businessweek