Pasadena Microchip Company to Go Public Through Merger

A Pasadena-based company specializing in the production of integrated silicon photonic chips and modules for cutting edge medical and health monitoring technology announced Friday that it will be going public through a merger with the international firm CS Health Corp.

Rockley received a pro forma enterprise value of $1.2 billion, the company said in a written statement. The company will be traded on the New York Stock Exchange under the symbol RKLY.

Rockley specializes in healthcare technology, wearable electronics and machine vision, according to the company.

“Transforming healthcare through revolutionary ‘clinic-on-the-wrist’ monitoring technology, the transaction will accelerate the commercial launch of Rockley’s unique sensing platform, which is positioned to revolutionize consumer health and wellness by enabling continuous, non-invasive monitoring of multi-modal biomarkers such as lactate, glucose, hydration, blood pressure, and core body temperature,” the statement said.

“Built on its highly disruptive silicon photonics platform, Rockley’s ‘clinic-on-the-wrist’ technology is significantly more accurate than LED sensors commonly used today in wearables such as smartwatches and fitness bands and allows for continuous monitoring of key vitals in a way that was previously possible only with clinical machines,” the statement added. “By bringing laboratory precision diagnostics to wearables, Rockley will enable consumers to detect diseases earlier, better manage nutrition, and focus on preventive healthcare so they can live better and healthier lives.”

Company founder Andrew Rickman will remain at the head of the company as CEO and Chairman, according to Rockney.

More information on Rockley Photonics can be found on the company’s website at rockleyphotonics.com.