Companies take a closer look at Chinese healthcare market and find plenty of opportunities, reports Yao Jing

Chinese healthcare players' passion for IPOs remains high despite some companies' privatization plans.

In April, Chinese health checkup service provider iKang Healthcare Group Inc was listed on the Nasdaq board in the United States, and Ciming Health Checkup Management Group Co Ltd plans an initial public offering on the A-share market.

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This was after New York-listed drugmaker Simcere Pharmaceutical Group and Nasdaq-listed clinic operator Chindex International Inc decided to privatize. Both companies said they will focus on the Chinese market.

But for iKang Chairman Zhang Ligang, getting listed on the Nasdaq means the company will get technology and innovation.

With capital raised from the market, iKang hopes to use new technologies to help people better manage their health.

IKang went public with an IPO price of $14 per American Depository Share and closed at $17.45 after trading on June 24. "Our stocks are attractive to global investors," Zhang said.

One reason may be because iKang is in the fast-growing private preventive healthcare sector, he said.

The company's revenue grew from less than 1 million yuan ($160,600) in 2004 to $202.3 million in the fiscal year that ended March 31 this year, according to its financial report released on June 9.

Zhang regards Nasdaq as his home turf because a company he founded earlier, online travel agency eLong Inc, was also listed there.

But for Chindex CEO Roberta Lipson, the domestic market seems more attractive.

"What motivated us to privatize is that we have very big expansion plans in China," she said.