WORK Medical Technology Group Stock Price, News & Analysis
Company Description
WORK Medical Technology Group LTD (WOK) is a healthcare company in the medical devices industry. According to company disclosures and regulatory filings, WORK Medical operates through its subsidiary Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and other subsidiaries in the People’s Republic of China. The group develops and manufactures Class I and Class II medical devices and sells Class I and Class II disposable medical devices through operating subsidiaries in China.
The company describes itself as a supplier of medical devices with a product portfolio focused on medical consumables and related equipment. Its portfolio comprises 21 products, including customized and multifunctional masks and other medical consumables. WORK Medical states that its products have been sold across 34 provincial-level administrative regions in China, and that 15 of these products have been sold in more than 30 countries worldwide. The company also reports that it has received a number of quality-related manufacturing designations and has registered 17 products with the U.S. Food and Drug Administration, enabling those products to enter the U.S. market.
Core business and product portfolio
Based on the company’s own description and third-party data, WORK Medical’s core business centers on manufacturing and selling disposable medical devices and equipment. Polygon data indicates that the company’s main products include medical face masks, tourniquets, airways, breathing circuits, intubation accessories, anesthesia kits, oxygen masks, suction sets, laryngoscope blades, KN95 masks, and other disposable medical devices, as well as medical equipment. These products position the company within the broader medical consumables and devices segment of the healthcare sector.
WORK Medical’s product portfolio includes both standard and customized items. The company highlights customized and multifunctional masks as part of its offering, alongside other consumables. Its registration of multiple products with the U.S. FDA and sales into more than 30 countries indicate that certain products are cleared for international distribution in addition to being marketed across China’s provincial-level regions.
Geographic footprint and market reach
According to repeated statements in company press releases, WORK Medical’s products have been sold in all 34 provincial-level administrative regions in China. In addition, 15 products have been sold in more than 30 countries worldwide. This indicates that while the company’s operating subsidiaries are based in China, its sales reach extends beyond the domestic market.
The company is incorporated in the Cayman Islands and reports that its principal executive offices are located in Hangzhou City, Zhejiang Province, in the People’s Republic of China. Its Class A ordinary shares trade on the Nasdaq Capital Market under the symbol WOK, as disclosed in multiple news releases and SEC filings.
AI-driven medical device development
In addition to medical consumables, WORK Medical has disclosed activity in AI-enabled diagnostic equipment. The company reports that its subsidiary Hunan Saitumofei Medical Treatment Technology Co., Ltd. has developed an AI-Automated Human Blood Cell Morphology Analyzer, classified as a Class II medical device. This analyzer consists of a main unit and embedded analysis software, integrating an optical imaging system, sample-handling module, barcode scanner, automatic oil-immersion unit, control board, and protective housing.
According to company announcements, the analyzer performs white blood cell differential counts on human blood smears and quantifies morphological parameters of red blood cells and platelets, supporting clinicians in cell morphology screening. It combines high-speed digital imaging, deep-learning algorithms, and a fully automated workflow to identify, pre-classify, and describe the morphology of white blood cells, red blood cells, and platelets in peripheral blood smears. The company states that this device is designed to enhance efficiency, consistency, and accuracy in microscopic examinations while reducing manual workload and operational costs.
In a subsequent announcement, WORK Medical reported that the analyzer (referred to as CM-B600) received manufacturing approval as a Class II medical device from a Chinese regulatory authority and is certified under standards including GB 4793.1 and YY 0648. The company describes the analyzer as leveraging high-resolution digital imaging technology and employing algorithms such as region-based level set segmentation and Support Vector Machine (SVM) for automatic sample scanning, identification, and classification. It reports that the system can process up to 150 samples per batch with an additional emergency slot, and that it is designed to achieve an average detection time of no more than three minutes per blood smear.
WORK Medical further states that the analyzer delivers classification accuracy of no less than 90% for lymphocytes, neutrophils, eosinophils, basophils, and mature white blood cells per slide. It can identify 17 subtypes of white blood cells and provide detailed morphological analyses of red blood cells and platelet characteristics. The system supports a database capacity of more than 350,000 high-definition blood cell images. The company notes that the analyzer employs non-deep-learning feature extraction algorithms, such as nucleus-to-cytoplasm ratio and granularity analysis, to enhance interpretability and reduce potential clinical risks.
Distribution and commercialization arrangements
To support commercialization of its AI-Automated Blood Cell Morphology Analyzer in China, WORK Medical has disclosed that its subsidiary Hunan Saitumofei entered into a one-year exclusive distribution agreement with Shanghai Benke Medical Technology Co., Ltd. Under this agreement, Shanghai Benke has exclusive distribution rights for the analyzer in East China, covering Jiangsu Province, Shanghai Municipality, and Zhejiang Province, for a specified period. The agreement includes a minimum annual sales target denominated in RMB and a prepaid performance bond by the distributor, which may be deducted from the final payment or refunded upon achievement of the sales target.
The company has characterized this collaboration as a way to accelerate market access and drive commercialization of the analyzer in East China, leveraging Shanghai Benke’s medical device sales network and presence in that region. WORK Medical has indicated that it views this rollout as a benchmark for broader adoption and as a foundation for future expansion across China and into international markets.
Strategic investments and collaborations
WORK Medical has reported an equity investment in Neologics Bioscience Inc., a Delaware-based medical technology company. According to company announcements, Neologics specializes in research and development of medical technologies with a focus on the integration of artificial intelligence and medicine. WORK Medical entered into an investment agreement to subscribe for newly issued shares of Neologics, representing a 10% equity interest on a post-investment basis, with corporate governance rights commensurate with this stake, including shareholder rights related to nominating board members and a right of first refusal on equity interests offered by Neologics.
Neologics is described as operating a laboratory and R&D center in San Diego, California, focusing on R&D collaborations with universities, hospitals, research institutes, and biotechnology firms. It aims to develop systematic solutions for drug screening, target discovery, and preclinical validation through an independent R&D platform that integrates multi-dimensional biological data resources. WORK Medical has characterized its investment in Neologics as part of its global expansion and business diversification efforts, and as a shift from capital injection to research and development execution.
In a related development, WORK Medical disclosed that Neologics entered into a service agreement with GemPharmatech Corporation, a Delaware-based contract research organization. Under this agreement, Neologics provides specified testing services for GemPharmatech, including material preparation, serum titer analysis, hybridoma fusion and screening, antibody sequencing and production, and in vitro validation for several purified recombinant antibodies. WORK Medical has presented this agreement as a milestone for Neologics and as supportive of its own diversification strategy.
WORK Medical has also announced a strategic cooperation agreement with Hong Kong Web3.0 Standardization Association Limited. The association is described as a cross-industry, non-profit organization focused on standardization research in the Web3.0 sector and on promoting development of the global Web3.0 industry. Under the agreement, WORK Medical and the association plan to collaborate on blockchain-related solutions in areas such as asset tokenization, equity investment, and Real-world Asset (RWA) technology development. The company indicates that this collaboration is intended to explore new technologies and business models related to RWA, and that WORK Medical has been appointed as a Vice President Unit of the association.
Capital markets activity and share structure
WORK Medical’s Class A ordinary shares are listed on the Nasdaq Capital Market under the ticker WOK. The company has disclosed several capital markets transactions and share structure changes in its SEC filings and press releases.
In September 2025, the company held an extraordinary general meeting of shareholders at which shareholders approved resolutions related to one or more share consolidations (share reverse splits), an increase in authorized share capital, and adoption of amended and restated constitutional documents to reflect these changes. Following this meeting, the board of directors approved a consolidation of the company’s ordinary shares at a ratio of 100:1, an increase in authorized share capital, and adoption of an amended and restated memorandum of association to reflect the share consolidation and share capital increase.
The company reported that the effective date of this share consolidation was October 21, 2025. On that date, the number of ordinary shares held by each shareholder was converted by dividing the pre-consolidation share count by 100, with any fractional shares rounded up to the nearest whole share. The company stated that its Class A ordinary shares continued to trade on Nasdaq under the symbol WOK, but with a new CUSIP number.
WORK Medical has also announced registered direct offerings and at-the-market offerings. In September 2025, the company entered into a securities purchase agreement with an institutional investor for a registered direct offering of Class A ordinary shares and pre-funded warrants, with gross proceeds of approximately US$2.9 million before fees and expenses. The company indicated that it intended to use the net proceeds for working capital and general corporate purposes. In November 2025, WORK Medical entered into a sales agreement with AC Sunshine Securities, LLC, allowing the company to offer and sell Class A ordinary shares from time to time through at-the-market offerings under an effective shelf registration statement, up to an aggregate offering price of US$200 million. Under this agreement, the company agreed to pay the sales agent a commission based on the gross proceeds from each sale and to provide customary indemnification and expense reimbursement.
In addition, the company has disclosed reverse stock splits of its ordinary shares on a 1-for-100 basis, with effective dates specified in press releases. These reverse stock splits were described as measures to address Nasdaq’s minimum bid price requirements under Listing Rule 5550(a)(2). The company has reported receiving deficiency letters from Nasdaq regarding its minimum bid price and, in at least one instance, receiving an additional 180-day period to regain compliance. It has also disclosed that it received a Nasdaq determination letter regarding potential delisting due to a low bid price, and that it planned to appeal that determination and consider options such as reverse share splits.
Regulatory reporting and corporate governance
WORK Medical files reports with the U.S. Securities and Exchange Commission as a foreign private issuer, using Form 20-F for annual reporting and Form 6-K for current reports. The company has furnished unaudited consolidated financial statements and management’s discussion and analysis for interim periods, as indicated in its Form 6-K filings. It has also reported changes in its independent registered public accounting firm, noting the appointment of HTL International, LLC as its independent auditor and the termination of its engagement with WWC, P.C., while stating that there were no disagreements or reportable events as defined in SEC rules, other than material weaknesses identified by management in its annual report.
The company is incorporated under the laws of the Cayman Islands and refers to itself as an exempted company limited by shares. It has held extraordinary general meetings of shareholders to approve share capital changes and related amendments to its constitutional documents. Voting results disclosed in SEC filings show that shareholders approved resolutions related to share capital increases, share consolidations, and adoption of amended and restated memoranda and articles of association.
Status and risk considerations
WORK Medical has disclosed interactions with Nasdaq regarding compliance with listing requirements, particularly the minimum bid price rule. The company has reported receiving deficiency notices, additional compliance periods, and a delisting determination letter related to its Class A ordinary shares. It has also described steps such as reverse stock splits and capital structure changes that are intended to address these issues. As of the disclosures provided, the company’s Class A ordinary shares are stated to trade on the Nasdaq Capital Market under the symbol WOK, although Nasdaq’s determinations and any appeals may affect future listing status.
Investors researching WOK stock may wish to review the company’s SEC filings, including Form 20-F annual reports and Form 6-K current reports, for detailed information on financial condition, risk factors, share structure, and regulatory matters. The company’s press releases provide additional context on product development, strategic investments, collaborations, and capital markets activity.
FAQs about WORK Medical Technology Group LTD (WOK)
- What does WORK Medical Technology Group LTD do?
WORK Medical Technology Group LTD is a medical devices company that, through its subsidiaries in China, develops and manufactures Class I and II medical devices and sells Class I and II disposable medical devices. Its product portfolio includes medical consumables such as customized and multifunctional masks and other disposable devices, as well as medical equipment. - Where does WORK Medical sell its products?
According to company statements, WORK Medical’s products have been sold in all 34 provincial-level administrative regions in China. The company also reports that 15 of its products have been sold in more than 30 countries worldwide, and that 17 products are registered with the U.S. Food and Drug Administration. - What is the AI-Automated Blood Cell Morphology Analyzer developed by WORK Medical?
The AI-Automated Human Blood Cell Morphology Analyzer is a Class II medical device developed by WORK Medical’s subsidiary Hunan Saitumofei. It combines a main unit and embedded analysis software to perform white blood cell differential counts and quantify morphological parameters of red blood cells and platelets in human blood smears, using high-speed digital imaging, deep-learning algorithms, and automated workflows. - How is the analyzer being commercialized in China?
WORK Medical has disclosed that Hunan Saitumofei entered into a one-year exclusive distribution agreement with Shanghai Benke Medical Technology Co., Ltd. to promote and distribute the AI-Automated Blood Cell Morphology Analyzer in East China, covering Jiangsu Province, Shanghai Municipality, and Zhejiang Province, with a specified minimum annual sales target and a prepaid performance bond. - What is WORK Medical’s relationship with Neologics Bioscience Inc.?
WORK Medical has invested in Neologics Bioscience Inc., a Delaware-based medical technology company focused on integrating artificial intelligence and medicine. Under an investment agreement, WORK Medical subscribed for newly issued shares representing a 10% equity interest in Neologics on a post-investment basis and obtained related corporate governance rights and a right of first refusal on future equity offerings. - What collaboration does WORK Medical have in the Web3.0 and RWA space?
WORK Medical has entered into a strategic cooperation agreement with Hong Kong Web3.0 Standardization Association Limited. The parties plan to collaborate on blockchain-based solutions related to asset tokenization, equity investment, and Real-world Asset technology development, and WORK Medical has been appointed as a Vice President Unit of the association. - On which exchange does WOK trade, and what type of shares are listed?
WORK Medical’s Class A ordinary shares trade on the Nasdaq Capital Market under the ticker symbol WOK, as disclosed in multiple company press releases and SEC filings. - Has WORK Medical conducted reverse stock splits?
Yes. The company has reported share consolidations (reverse stock splits) of its ordinary shares on a 1-for-100 basis, with an effective date of October 21, 2025, and has announced other reverse stock splits in press releases. These actions were described as intended to address Nasdaq’s minimum bid price requirements. - How has WORK Medical raised capital in recent periods?
WORK Medical has disclosed a registered direct offering of Class A ordinary shares and pre-funded warrants with gross proceeds of approximately US$2.9 million, and has entered into a sales agreement for at-the-market offerings of Class A ordinary shares under an effective shelf registration statement, with an aggregate offering limit of up to US$200 million. - What regulatory filings does WORK Medical make with the SEC?
As a foreign private issuer, WORK Medical files an annual report on Form 20-F and current reports on Form 6-K. It has furnished unaudited interim financial statements, management’s discussion and analysis, notices and proxy materials for shareholder meetings, information on capital markets transactions, and updates on Nasdaq listing compliance through Form 6-K filings.