LivsMed LLC, a Seoul-based surgical robotics company, has completed a ₩135.9 billion ($94 million) initial public offering on Korea’s KOSDAQ market, achieving a $1 billion “unicorn” valuation. The company, founded and led by CEO Dr. Jung Joo Lee, will use the capital to accelerate the global expansion of its remote robotic surgery systems and advanced laparoscopic instruments.
In a major boost for the global medical robotics field, a South Korean challenger has secured a massive war chest. LivsMed LLC, a developer of systems for minimally invasive surgery, is now a publicly traded “unicorn” following a highly oversubscribed IPO. The company’s debut marks a significant step in its mission to democratize advanced surgical care, leveraging telepresence technology to let surgeons operate from miles away. “As we scale globally, we remain focused on making advanced surgical capability more accessible,” stated founder and CEO Dr. Jung Joo Lee. “An innovation cannot be called an innovation unless it can reach the masses.”
The public offering was a resounding success, priced at ₩55,000 per share and generating overwhelming demand. During the institutional book-building process, reported interest outpaced shares by a staggering 231-to-1 ratio, attracting major domestic pension funds and global financial institutions from New York, Boston, the Middle East, and Asia. This strong vote of confidence reflects the growing investor appetite for innovative healthcare technology, particularly in robotics and telehealth. On its first trading day, shares opened more than 10% above the offering price, signaling a warm market reception.
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So, what does LivsMed plan to do with nearly $100 million? The capital injection is earmarked for scaling up manufacturing, fueling research and development, and building the management infrastructure needed for a global push. A core focus is advancing the company’s flagship STARK surgical robot. In a demonstration of its potential last July, the system was used in a transcontinental wet-lab study where a surgeon in Santa Barbara, California, controlled the robot located in Chicago. This proof-of-concept for long-distance telesurgery could one day help bridge geographic gaps in specialist care, though the STARK system is not yet approved for sale in the U.S.
Beyond robotics, LivsMed has built a complementary portfolio of smart handheld tools. Its ArtiSential line, launched in 2018, consists of fully articulating laparoscopic instruments that mimic the dexterity of a surgeon’s wrist within the body. The platform has since expanded to include ArtiSeal, a 90-degree articulating vessel sealer designed to navigate confined anatomy. These instruments represent a bridge technology, bringing robotic-like precision to more conventional laparoscopic surgery at a potentially lower cost point.
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Headquartered in Seoul with a U.S. subsidiary in San Diego, LivsMed’s strategy reflects a blend of deep technical R&D and global commercial ambition. The IPO, with Samsung Securities and Mirae Asset Securities as joint lead underwriters, provides the fuel to execute this vision. The medical robotics market is intensely competitive, dominated by giants like Intuitive Surgical. LivsMed’s approach—emphasizing accessibility, telepresence capability, and a suite of products from handheld tools to full robots—positions it as a nimble and innovative contender. By going public and joining the ranks of tech unicorns, LivsMed isn’t just raising money; it’s announcing its arrival on the world stage as a serious player in the future of surgery.
