http://www.elsevierbi.com/search?type=Deals&advanced=%20(%40industries%3d%22Medical%20Devices%22)%20and%20(%40dealtype%3d%22Financing%22)Medical Device Financing from Elsevier Business Intelligence en-usCopyright © 2012 Elsevier Inc. All rights reserved. Elsevier Business Intelligence, www.ElsevierBI.com.http://www.elsevierbi.com/deals/199630284http://www.elsevierbi.com/deals/199630284?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Xomed Surgical Products] (ear, nose, and throat) netted nearly $49mm in its initial public offering of 2.5mm shares at $21 per share, which was the high end of its anticipated $19-21 price range. Xomed will use the proceeds to repay its $21mm term loan and to redeem shares of its series C preferred stock from existing stockowners; redemption will reduce the position of principal owner Warburg Pincus Investors to 48% from 78%. The company's ENT surgical products include powered tissue-removal systems, other microendoscopy instruments, implantable devices, nerve monitoring systems, and disposable fluid-control products. Xomed describes itself as the only major provider of surgical products with a direct sales force exclusively serving the ENT surgeon.Tue, 01 Oct 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630350http://www.elsevierbi.com/deals/199630350?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Premier Laser Systems] (lasers and fiber optic systems for niche dental, ophthalmic, and surgical applications) raised net proceeds of $11.7mm in a follow-on offering of 12,650 units, including the overallotment, at $1000 per unit. This offering replaces a $25mm common share offering Premier registered in May but withdrew. Each unit consisted of 140 class A common shares and 95 class B warrants (each exchangeable till 11/99 for a class A common share for $8). Proceeds will fund expansion of marketing and distribution, including international marketing, and new products. Premier makes minimally invasive lasers and disposable fiber optic delivery systems, typically compact and transportable, for use in the in-office and surgicenter markets. Premier has filed for or received FDA clearance for various lasers used in teeth whitening, gum surgery, urology, dermatology, podiatry, ophthalmology, and tissue melding as an alternative to sutures.Tue, 01 Oct 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630231http://www.elsevierbi.com/deals/199630231?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Nitinol Medical Technologies] (minimally invasive medical devices) has completed its IPO of 3mm common shares at $11 per share, netting $30.69mm. Nitinol had expected the share price to be between $12 and $14. Nitinol will use the proceeds for redemption of its redeemable preferred stock; for R&D, clinical trials and regulatory matters; development of marketing and sales capabilities; and for other corporate purposes. Nitinol's products includea line of patented self-expanding nitinol stents, a patented nitinol vena cava filter designed to prevent pulmonary embolism, and a soon-to-be-marketed patented septal occluder for the minimally invasive repair of defects in theseptal wall of the heart.Sun, 01 Sep 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630313http://www.elsevierbi.com/deals/199630313?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[RayMedica Inc.] (founded in 1990; developing an alternative treatment to spinal fusion) raised $5 million in its second round of private financing. Investment bank Miller, Johnson & Kuehn managed the equity placement. About 120,000 patients a year suffer from lumbar disc problems which require spinal fusion, a procedure which limits mobility of the spine. RayMedica's {Prosthetic Disc Nucleus} is implanted between two vertebrae to restore normal disc space. Pilot studies have been conducted in Germany.Sun, 01 Sep 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630382http://www.elsevierbi.com/deals/199630382?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Baxter] has spun off its large supplies and distribution subsidiary [Allegiance Corp.] by distributing to shareholders one Allegiance share for each Baxter share held. Analysts predict that Allegiance will trade at $13-15. Allegiance had 1995 sales of $4.57bn and would have accounted for about 45% of Baxter's total sales this year on a consolidated basis. The unit has three main businesses: manufacture of low-end central supply items like gowns, trays, and wound drainage products; the {Shared Risk/Shared Savings} and {ValueLink} programs, which help hospitals reduce their supplies costs through efficient ordering and utilization; and a distribution operation that claims about 30% of the hospital supply market and 40% of the lab supply market. Allegiance has 60 distribution centers and 28 manufacturing plants and claims it can take care of up to 80% of a hospital's total supply needs.Sun, 01 Sep 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630266http://www.elsevierbi.com/deals/199630266?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Sunrise Technologies] (dental and ophthalmic lasers) has netted $2.25mm through a Regulation D financing in which it sold 2.3mm shares. Proceeds will mainly be used to fund ongoing clinical development of the Sunrise Corneal Shaping System. Phase II trials of the procedure, which involves the shrinking of corneal collagen to treat mild hyperopia, are being conducted by Suntise subsidiary [Laser Biotech].Thu, 01 Aug 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630308http://www.elsevierbi.com/deals/199630308?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[HumaScan], a development stage company marketing a breast differential temperature sensor device, completed its initial public offering of 2.7mm shares of stock at $6 per share, raising net proceeds of approximately $14mm. HumaScan plans to use about $4mm of the proceeds to fund sales and marketing expenses, $2.5mm to fund additional clinical trials of its {BreastAlert} differential temperature sensor device, and remaining proceeds for licensing fees, inventory and general corporate purposes. The {BreastAlert} (510k clearance) is a device that indicates unusual heat patterns on a patient's breast which can alert the physician of potential tumor growth. The device is a non-invasive, adjunctiverimary care physicians. HumaScan acquired rights to the technology from [Scantek] in July 1995 and has entered into an exclusive distribution agreement with [Physician Sales & Service].Thu, 01 Aug 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630296http://www.elsevierbi.com/deals/199630296?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Cambridge Heart] (non-invasive cardiovascular diagnosis) has netted $20.4mm in its IPO of 2.4mm shares at $9 per share. Selling shareholders sold an additional 62,250 shares. The net proceeds of the offering will be used for research and clinical development, manufacturing scale-up, and sales and marketing activities. The company's lead product, {CH 2000}, is a cardiac stress test system that, as well as performing conventional stress tests, can measure T-wave alternans ( ECG patterns associated with sudden cardiac dealth) down to one millionth of a volt. [Medtronic], which agreed to conduct a joint clinical study using CHI's system to evaluate its implantable defibrillator, invested $3.5mm in the IPO.Thu, 01 Aug 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630320http://www.elsevierbi.com/deals/199630320?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Sterile Recoveries] (reusable gowns, towels, drapes and disposable products) completed its initial public offering of 2mm shares, raising net proceeds of $17.67mm The company plans to use about $11.1mm of the proceeds to repay indebtedness associated with the acquisition of [AMSCO], and the remaining proceeds for working capital and the purchase of more reusable surgical products and equipment. Sterile Recoveries delivers drapes and other reusable products used for surgery to hospitals, then retrieves and sterilizes them. The company serves over 200 hospitals and surgery centers in seventeen states.Thu, 01 Aug 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630235http://www.elsevierbi.com/deals/199630235?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[ESC Medical Systems], an Israeli company that makes pulsed light devices for noninvasive treatment of benign vascular lesions, raised net proceeds of $17.6mm in a follow-on offering of 750,000 common shares at $24.75 per share. Selling shareholders dominated the financing, placing 3,050,000 additional shares. The company had gone public in January at $15 per share. ESC has US clearance for its {PhotoDerm VL} device for leg veins and other lesions; it filed 2/96 for FDA approval of {PhotoDerm PL} for pigmented lesions such as tattoos, and plans to file this year for two general dermatology and skin resurfacing lasers; a hair removal system is in advanced clinicals; and the {VersaLight} device that treats skin cancers with a continuous wave light source is at the preclinical stage. ESC has already commercialized all of those products outside the US.Mon, 01 Jul 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630265http://www.elsevierbi.com/deals/199630265?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Positron Corp.] (PET imaging devices), a publicly traded company, raised $1,250,000 through a private offering of units, priced at $50 each, consisting of 25,000 shares of 8% convertible preferred stock plus warrants to purchase 100,000 common shares. Each share of the series B stock is initially convertible into 26 common shares; each warrant is exercisable for one common share at an exercise price of $2 per share. The underlying shares have not yet been registered; further, conversionand exercise must wait until the shareholders approve authorization of additional shares. Positron makes and markets positron emission tomography devices branded {Posicam}; these systems are used for diagnosing and managing heart disease and certain neurological illness and cancers.Mon, 01 Jul 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630278http://www.elsevierbi.com/deals/199630278?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Angeion] (products to treat and cure arrhythmias) raised net proceeds of approximately $27.5mm from a follow-on offering of 4.2mm shares of common stock at $7 per share. The company will use about $12mm of the proceeds for R&D, $3.6mm to expand marketing activities, $2.5mm to scale-up manufacturing facilities, $0.7mm to fund clinical trials, and remaining proceeds for general corporate purposes. Angeion isdeveloping the {Sentinel} series of implantable cardioverter defibrillators designed to treat abnormally rapid heartbeats. The {Sentinel} series of defibrillators are smaller and lighter than current ones on the market and offer a longer device life. Angeion also develops catheter-based ablation systems to treat abnormally rapid heartbeats.Mon, 01 Jul 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630349http://www.elsevierbi.com/deals/199630349?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Publicly-traded [MBf USA] (examination gloves and condoms) raised $2.4mm in a private placement of its class B common stock. The company's majority shareholder, MBf International bought 488,953 shares for $1.4mm, a 15% discount to market; its Indonesian glove manufacturing partner [PIE Health care] bought 296,296 for $1mm at market price. MBf USA markets the {Glovetex} brand of medical examination gloves and {Playboy} condoms.Mon, 01 Jul 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630112http://www.elsevierbi.com/deals/199630112?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Positron] (PET imaging) netted $3.5mm from the private placement of 2,683,309 shares of Series A 8% convertible preferred stock and 1,341,907 warrants, including the overallotment. The preferred shares convert 1 for 1 to common stock, as do the warrants whose exercise price is $2 per share. Positron had to increase its tangible assets to maintain its listing on the NASDAQ National Market System. Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630166http://www.elsevierbi.com/deals/199630166?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Fusion Medical Technologies] (developing closure products for use on surgical wounds caused in open and minimally invasive surgery) raised net proceeds of $25.4mm in its IPO of 2.1mm common shares at $13 per share. With the money, the company will fund clinical trials and R&D and expand its marketing and sales activities. Fusion filed a 510k marketing application in April for its first product, the {RapiSeal} bioresorbable collagen patch, for sealing air leaks caused during surgery for lung cancer and emphysema. In the past, such leaks have required venting through chest tubes. {RapiSeal} closes leaks on the suture and staple line, without perforating or stressing neighboring tissue. With the use of a radio frequency coagulation generator, the surgeon can apply energy that makes the patch also flow into the irregularities and fissures of the underlying tissue. Fusion is also developing liquid sealants that require no energy source.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630219http://www.elsevierbi.com/deals/199630219?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Vivus] (male impotence therapeutics) has completed a follow-on offering of 2mm shares at $26.75 per share, netting $49.8mm. Net proceeds of the offering will be used for marketing and sales, manufacturing scale-up, and general corporate purposes. The company's lead product, {MUSE}, is alprostadil delivered via a transurethal plastic applicator; an NDA was filedfor the product in March 1996.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630229http://www.elsevierbi.com/deals/199630229?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Del Global Technologies] (imaging equipment) raised net proceeds of $22.3mm in a follow-on offering of 2,275,000 common shares, including overallotment shares, at $10.50 per share. For several years the company has been its shifting its focus towards its medical imaging technologies and away from its non-medical businesses (electronics for high voltage products and noise suppression technology for industrial and defense uses); medical imaging currently accounts for about 66% of Del's sales. Product lines include mammography systems and general and dental x-ray equipment. The company wants to specialize in systems that cost less than $100,000 per unit. Del made export sales of about $12mm (of $24mm net sales) in fiscal 1995; these were direct sales of its products as well as sales of subsystems that are incorporated into OEM customers' products for export.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630232http://www.elsevierbi.com/deals/199630232?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Eyeglass lens manufacturer [Sola International] has netted $54.6mm in a follow-on offering of 2,805,415 shares at 28.625 per share, in which Sola sold 2.02mm shares and selling shareholders sold 785,415 shares. The net proceeds of the offering will chiefly be used to repay debt incurred by its recent $107mm acquisition of [American Optical]. The financing values Sola at about $681.8mm; it posted revenues of $387.7mm for the fiscal year ended March 31, 1996.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630245http://www.elsevierbi.com/deals/199630245?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Imatron] (diagnostic imaging systems) completed a $16mm private placement for its subsidiary, [HeartScan Imaging], which provides coronary artery disease risk assessment services in centers using Imatron's proprietary {Ultrafast CT} technology. A group of institutional investors invested $16mm in exchange for 100,000 shares of HeartScan Imaging Series A preferred stock for 40% of HeartScan. The shares are exchangeable into 3.2mm shares of Imatron common stock for up to 2 years. HeartScan expects to begin a separate, stand alone, company within the next two years. The company plans to use the proceeds to open new diagnostic imaging centers.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630248http://www.elsevierbi.com/deals/199630248?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Imagyn] (micro-invasive devices for diagnosis and treatment of gynecological disorders) raised net proceeds of $37.5mm in its initial public offering of 2.75mm shares at $15 per share, above the $11-13 range filed in the preliminary prospectus. The company plans on using about $7mm of the proceeds to fund product introduction, sales and marketing, and to develop physician training programs. Another $5mm will be used for R&D, $1.5mm for capital equipment, and remaining proceeds for general corporate purposes. Imagyn's products include the {MicroLap} high resolution endoscope system, (510k clearance) for diagnosing pelvic inflammatory disease, endometriosis, and for infertility problems. Imagyn also markets its {Ovation} falloposcopy microhysteroscopy system for infertility. The company's micro-optics and micro-access devices allow physicians to access the abdominal cavity in a less-invasive procedure, without anesthesia and on an out-patient basis.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630255http://www.elsevierbi.com/deals/199630255?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Cardiovascular Dynamics] (vascular catheters) has completed an IPO of 3.4mm shares of common stock, raising net proceeds of $37.94mm. CVD had been a division of [EndoSonics], which retains a 49% holding. Net proceeds will be used for product development, capital expenditures, clinical trials and studies, working capital, direct sales and marketing, and repayment of debt to [Endosonics.] The company, in addition to offering all shares granted an overallotment of 510,000 to its underwriters. CVD's catheters are used in conjunction with angioplasty and other interventional procedures such as vascular stenting and drug delivery. CVD has developed the {Focus and Multiple Microporous Membrane} technology, which allows physicians to deliver radial force, stents, contrast media or drugs to the treatment site, and the {SmartNeedle}, which uses Doppler ultrasound technology to provide access to the body's vascular system.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630257http://www.elsevierbi.com/deals/199630257?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Innovasive Devices], which develops open-surgical and minimally invasive tissue repair systems, completed its initial public offering of 1.9mm shares of common stock at $12.50 per share, raising net proceeds of approximately $21mm. The company plans to use the proceeds to fund R&D, to expand its marketing and sales efforts and manufacturing capacity, as well as for general corporate purposes. Innovasive's tissue repair systems are aimed at repairing soft tissue injuries. The company's initial products are the {Radial Osteo Compression (ROC)} suture fasteners and arthroscopic instruments marketed for use in the sports medicine segment of the orthopedic market. {ROC} suture fasteners, which use bioabsorbable and collagen-based biomaterial composites that dissolve or remodel into surrounding tissue, are inserted below the surface of the bone to hold soft tissue in place while it is healing.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630268http://www.elsevierbi.com/deals/199630268?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Fischer Imaging] (medical imaging equipment) raised $13.5mm in a follow-on offering of 1.35mm common shares at $12 per share. The company's newest products focus on imaging systems related to minimally invasive therapies, primarly diagnosis and treatment of breast cancer, heart disease and vascular disease. Products include {Mammotest} a less invasive needle biopsy system and {Senoscan}(currently in clincal trials) a digital mammography system to detect breast cancer in younger women, who have denser breast tissue. Fischer is also developing specialty imaging systems for electrophysiology and enendovascular procedures.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630263http://www.elsevierbi.com/deals/199630263?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[EP MedSystems] (device for internal cardioversion of atrial fibrillation) went public, raising $11.8mm from the sale of 2.5mm common shares at $5.50 per share. The company will use $1.5mm for clinical trials, $1.5mm for sales and marketing, and $1.5mm for manufacturing. The {ALERT} system, its lead product, uses a disposable electrode catheter to deliver low energy impulses directly to the insideof the heart to stop atrial fibrillation. It can be used on an outpatient basis without anesthesia. Current therapies involve a combination of high energy external cardioversion in conjunction with antiarrhythmic or anticoagulant drugs. EP MedSystems is in the process of filing an IDE application for the system. It also markets a line of electrophysiology products in the US through distributors. Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630242http://www.elsevierbi.com/deals/199630242?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Italian electromedical device maker [Esaote Biomedica] went public, raising gross proceeds of $50mm through the sale of 20mm shares (about 44% of its total equity) at $2.50 (Lit. 3900) per share. Esaote makes ultrasound and other diagnostic machines, primarily for use in cardiology and neurology. The company's subsidiaries in France, Germany, and the US enjoyed a 28% rise in sales from 1994 to 1995; overall 1995 sales were $165mm, 11.4% over the previous year. [Bracco] (also Italian; main business is diagnostic imaging agents) invested $11.5 to buy a 15% stake in Esaote in January.Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630319http://www.elsevierbi.com/deals/199630319?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Cardiac Pathways] (minimally invasive systems for diagnosis and treatment of cardiac tachyarrhythmias) raised $44.2mm. Cardiac Pathways is developing {Ventricular Tacycardia Ablation System} and {Arrhythmia Mapping System}. The products, which are in early clinical development, are aimed at the electrophysiology market.The company distributes its {Trio Ensemble} and {Radii} catheters through [Arrow] (medical products for critical care). Arrow has a $9.1mm equity investment in Cardiac Pathways and accounts for 37% of its sales. Proceeds will be used to fund R&D and clinical tricatheter-based mapping and ablation systems. Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630356http://www.elsevierbi.com/deals/199630356?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Norland Medical Systems] ( bone densiometry x-ray equipment for diagnosing osteoporosis) filed 1.5mm shares at an estimated a $20.75 per share, in a follow-on offering in which it hopes to raise $28.9mm. Norland will use proceeds for developing new products and sales and marketing programs, expanding manufacturing and for working capital and general corporate purposes. The company manufactures bone measurement diagnostics that apply three various technology methods: DXA technology which is a dual energy x-ray; SXA technology which is a single energy x-ray; and pQCT technology which is a peripheral three-dimensional x-ray. Sat, 01 Jun 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630134http://www.elsevierbi.com/deals/199630134?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Danninger Medical Technology] (orthopedic rehabilitation products, implants) netted $4.9mm in an offering of $5,250,000 of 8.5% convertible subordinated debentures due 2003. The conversion price is $8.125 per share; common shares trade now at $6.50. DMT's main products are continuous passive motion therapy (CPM) devices, which slowly and continuously move an injured joint without assistance from the patient's muscle power. CPM therapy, typically applied after joint surgery, is meant to improve blood flow and range of motion, reduce swelling, maintain muscle tone, and hasten healing. A wholly owned subsidiary called [Cross Medical Products] makes implants and instruments for surgical treatment of spinal degenerative diseases, deformities, and trauma. The implant business, based mostly on the {Synergy} system for fusion of the thoracic and lumbar portions of the spine, currently accounts for a third of the consolidated company's revenues.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630148http://www.elsevierbi.com/deals/199630148?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Autonomous Technologies] (develops laser instruments to treat refractive vision disorders) completed its initial public offering of 2.5mm shares of common stock at $8 per share, raising net proceeds of approximately $18.1mm. Proceeds will be used to fund clinical trials and regulatory issues, expand marketing and sales outside the US, and for R&D and general corporate purposes. The company's T-PRK (tracker-assisted photorefractive keratectomy) technology combines high-speed, laser radar eye tracking with narrow beam shaping, which compensates for eye movement during surgery and helps eliminate shaping error. The FDA approved AT's investigational device exemption in January 1996 to proceed with US trials for myopia. T-PRK will be used to treat vision disorders such as myopia and astigmatism. AT has an alliance with [Ciba Geigy]'s [Ciba Vision Group Management] for worldwide co-promotion rights to the T-PRK System. Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630176http://www.elsevierbi.com/deals/199630176?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Premier Laser Systems] (lasers and fiber optic systems for niche dental, ophthalmic, and surgical applications) registered for a follow-on offering of 2.5mm common shares; at the time of the filing, the stock was trading at $10 5/8. Proceeds will fund expansion of marketing and distribution operations and addition of new products through acquisitions, alliances, or internal development. Premier makes a broad range of minimally invasive lasers and disposable fiber optic delivery systems; typically their portability and interchangeable components suit them to the in-office and surgicenter markets. This year the company began shipping a new diode-based dental laser and filed to market its argon laser systems to speed the action of bleaching agents used in teeth whitening. Other Premier lasers are approved for use in gum surgery, urology, dermatology, podiatry, ophthalmology, and tissue melding (an alternative to sutures). Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630177http://www.elsevierbi.com/deals/199630177?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Norian Corp.] (synthetic bone substitute materials for orthopedic and dental applications) has filed for an IPO of 3mm shares, expected to be priced at $12-14 per share. Norian develops and markets the {Norian Skeletal Repair System (SRS)}, an injectable, moldable and biocompatible bone fixation and replacement material designed to overcome the shortcomings of currently available fracture treatment methods. Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630159http://www.elsevierbi.com/deals/199630159?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Respironics] (respiratory devices) has raised $40mm net in a public offering of 2mm shares priced at $21.00 each. Net proceeds will be used to provide working capital for general corporate purposes, including acquisitions of related businesses or rights. In 1995 Respironics introduced to foreign markets its next-generation family of sleep apnea products, and expects to begin distributing the products domestically in the first half of 1996.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630189http://www.elsevierbi.com/deals/199630189?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Microsurge] (laparoscopic instruments) has filed for an IPO, through which it hopes to raise $14mm to bolster its sales and marketing activities. Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630170http://www.elsevierbi.com/deals/199630170?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[InnerDyne] (minimally invasive surgical access products) raised net proceeds of $8.1mm from a follow-on offering of 2.5mm shares of common stock at $3.50 per share. Trading price on Nasdaq was $3.94 the day before the offering. Almost all of InnerDyne's revenue comes from the sales of its {Step} line of disposable radial dilation devices, introduced in late 1994 for use in gynecological and general MIS surgery. Inserted via the small puncture made by a standard insufflation needle, a {Step} device allows the surgeon to get into a patient's abdominal cavity through less invasive means than the conventional large, sharp-bladed trocar; the sheath of the device can be expanded to dilate the surrounding tissue and form a working channel. The {Radially Expanding Dilator}, an access device for intra-organ surgery, uses the same technology. InnerDyne is also developing biocompatible coatings and a thermal ablation device to treat uterine bleeding.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630206http://www.elsevierbi.com/deals/199630206?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[General Surgical Innovations] has netted about $41mm in its IPO of 3mm shares at $15 per share. The company plans to use $9mm of the net proceeds to expand sales and marketing activities, and $6mm for research and development. GSI is developing balloon dissection systems for use in minimally invasive surgery. It signed a distributionagreement for its lead product, the {Spacemaker I} for hernia repair, with [US Surgical] in March 1994.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630230http://www.elsevierbi.com/deals/199630230?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Aksys] (development-stage hemodialysis products and services company) raised net proceeds of $45.4mm from its initial public offering of 3.1mm shares of common stock at $16 per share. The company plans to use approximately $40.4mm of the net proceeds for manufacturing scale-up and commercialization of its lead product under development, the Aksys {PHD} system, a personal hemodialysis system which can be used at home on a daily basis. Another $2.5mm will be used for clinical studies and $500,000 to relocate to new facilities. The remaining proceeds of about $2mm go towards working capital and general corporate purposes. Aksys applied for a 510k clearancefor the {PHD} system in March 1996. {PHD}, which has an on-line monitoring system to let patients communicate with a medical center, automatically evaluates the water treatment filters and verifies that all critical safety systems are operating.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630239http://www.elsevierbi.com/deals/199630239?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[CardioGenesis] (laser revascularization techniques as an alternative to angioplasty and bypass surgery) has netted $54.8mm in its IPO of 3mm shares at $20 per share. The company plans to use $7mm of the net proceeds to fund R&D, $12mm for clinical trials, $10mm for sales and marketing, and $5mm for manufacturing scale-up. CardioGenesis is currently conducting a Phase I study on its revascularization technique, which involves using lasers to create 15-20 channels in the heart wall; the company believes this process leads to natural angiogenesis (growth of new blood vessels).Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630269http://www.elsevierbi.com/deals/199630269?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Eclipse Surgical] (laser surgery devices) raised $59.5mm in its initial public offering of 4mm common shares at $16 per share. The company will use proceeds to develop and test its transmyocardial revascularization (TMR) laser-based surgical products for treatment of end-stage cardiovascular disease and disposable fiber-optic surgical tools. Eclipse's TMR productsare currently sold in limited numbers, for investigational use only, under an IDE exemption. The company is currently involved in the second phase of clinical trials (begun March '96) to assess the effectiveness of TMR to treat angina.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630254http://www.elsevierbi.com/deals/199630254?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Life Medical Sciences] (tissue culturing technology to promote cell growth and prevent post-surgical adhesion) raised net proceeds of $13.4mm from its follow-on offering of 2.3mm shares of common stock (including overallotment) at $6.62 per share. LMS recently closed on Nasdaq at $8.50 per share. The company will use the proceeds to continue R&D on its most advanced products, which are based on its {in situ} tissue culturing technology (licensed from [Technion-Israel Institute of Tecnology] in Israel), which uses serum-free combinations of nutrients and hormones to stimulate cell growth and form blood vessels. These products include {Cariel} for treatment of chronic wounds and burns (in clinical trials since 1992), {Piliel} (pilot clinical study completed) to stimulate hair regrowth and reduce hair loss, and {Lipoel} (in pilot clinical study) to improve the success of autologous fat transplantations. LMS also is developing {Repel} to prevent post-surgical adhesion.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630272http://www.elsevierbi.com/deals/199630272?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Medical supplies distributor [Owens & Minor] completed a $150mm offering of 10 7/8% senior subordinated notes due 2006. The Company will use net proceeds of $145.88mm to repay a portion of outstanding debt. Owens incurred restructuring expenses associated with its 1994 acquisition of Stuart Medical for $155.2mm.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630273http://www.elsevierbi.com/deals/199630273?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Polymer Group], the world's third-largest producer of non-wovens, raised $19.4mm in its initial public offering of 1.15mm common shares at $18 per share. An additional 2.7mm shares were sold by stockholders. Medical applications represent the number two market for non-woven products, such as hospital/surgical gowns, woundcare sponges and filtration media. Polymer's biggest customer is [Johnson & Johnson], which accounts for 28% of its net sales. Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630312http://www.elsevierbi.com/deals/199630312?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Urologix] (minimally-invasive devices for urological disorders) has netted $34.6mm in its IPO of 2.7mm shares at $14 per share. The company plans to use $4.8mm of the proceeds to fund R&D on its lead product, the T3 (catheter-based system using microwave radiation to treat enlarged prostate), $4.1mm for clinical trials, $3.9mm to expand its sales capabilities, and the remainder for manufacturing and the purchase of capital equipment.Wed, 01 May 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630075http://www.elsevierbi.com/deals/199630075?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Neoprobe] (radio-immunoguided surgery {RIGS} system) raised $30.5mm from a follow-on offering of 1.75mm shares of common stock at $18.50 per share. Neoprobe will use the proceeds to continue development and to commercialize its {RIGS} system for the detection of cancer during surgery. {RIGS}, with applications in breast, colorectal, ovarian and prostate cancers, utilizes a radioactivespecific targeting agent and a hand-held gamma-ray detection probe to locate tissue containing high concentrations of the isotope. This $30mm, along with the $18mm on hand at the end of 1995, should last Neoprobe into 1998. Neoprobe has finished finished Phase III for colorectal cancer and plans to submit a European application in the second quarter, and a PLA to the FDA in the third.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630091http://www.elsevierbi.com/deals/199630091?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[PDT Inc.] (pharmaceuticals and devices for photodynamic therapy for killing cancerous or diseased cells) raised net proceeds of $67.4mm in a follow-on offering of 1.5mm common shares at $48 per share. The company is developing all the components of PDT treatment: photoreactive drugs plus the devices to produce and deliver the light. The therapy usually calls for intravenous injection of a drug that reacts to light, then application of aspecific wavelength light to activate the drug. PDT's lead candidate, {SnET2}, works as a catalyst, generating a highly reactive oxygen that kills the cells that contain the drug; the treatment works selectively against abnormal cells, since healthy cells clear themselves of the compound in a few hours, before the light is applied. Another PDT method, applicable to certain eye diseases, selectively targets the undesirable tissue by delivering the light to discrete areas of the body.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630105http://www.elsevierbi.com/deals/199630105?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Somanetics] (developing the {INVOS 3100} cerebral oximeter) has raised $1.4 million in the private sale of 571,200 units, each consisting of two common shares and a warrant to buy a common share, at $2.50 per unit. Somanetics common shares closed on Nasdaq at $1.375 the day of the placement's closing. The warrants included in the units are exercisable at $1.75 per share through April 1, 2001. Somanetics also granted the placement agent warrants to buy 114,240 common shares at $1.25 per share exercisable for four years following April 2, 1997. Net proceeds will be used to fund marketing of the cerebral oximeter upon FDA clearance of a 510k application.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630114http://www.elsevierbi.com/deals/199630114?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Biopsys Medical Inc.] (products to diagnose breast cancer) completed its IPO of 2.58mm shares (2.25mm offering plus underwriters' overallotment) at $15 per share, netting $35.3mm. Biopsys will use the proceeds to expand sales and marketing activities, to increase manufacturing capabilities for its biopsy system and to fund R&D activities. Its principal product is the {Mammotome Biopsy System}, a less invasive alternative to open surgical biopsy. The system received 510k clearance in April 1995, and commercial sales began in August 1995. Biopsys also produces the {MicroMark Clip}, which received 510k clearance in March 1995. The {MicroMark} is a 3-millimeter titanium clip delivered to the biopsy site during a {Mammotome} procedure to act as a tissue marker.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630121http://www.elsevierbi.com/deals/199630121?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Arterial Vascular Engineering] (makes stent systems and balloon angioplasty catheters) raised net proceeds of $67.5mm in its initial public offering of 3.5mm shares of common stock at $21 per share, better than the $15-17 range it had expected. AVE will use $10mm of the proceeds to expand sales and marketing activities, $10mm to fund R&D, $8mm to fund clinical trials and regulatory approvals, $7mm to expand manufacturing facilities, and the remaining proceeds of about $33mm for working capital and general corporate purposes. The company currently sells its stent systems in 30 countries outside the US. In Nov. '95 it received FDA clearance to conduct clinical studies of its {Micro Stent} and {Micro Stent II} coronary devices in the US. AVE believes its stent design provides more consistent support and radial force than coiled stents. Its portfolio includes four proprietary stent systems and three balloon angioplasty catheters.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630119http://www.elsevierbi.com/deals/199630119?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[InControl] (implantable automatic atrial defibrillators) completed a follow-on offering of 3mm shares of common stock at $16.50 per share, raising net proceeds of approximately $46.2mm. InControl will use proceeds to fund clinical trials, for expansion of European operations, and manufacturing, marketing, and R&D of next-generation atrial fibrillation devices, and for general corporate purposes. InControl's first product, {Metrix 3000}, is an implantable atrial defibrillation system to treat patients with heart rhythm disorder by delivering a timed, low-energy shock to convert the heart to a normal rhythm. It will compete with current therapies on the market, including antiarrhythmics, heart-rate controlling and anticoagulation pharmaceuticals, and electrical cardioversion.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630145http://www.elsevierbi.com/deals/199630145?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Publicly-traded [Lifecore Biomedical] (medical and surgical devices for dentistry, ophthalmology) raised net proceeds of approximately $22.5mm from an offshore offering of 1.5mm shares of common stock at $16 per share. All of the shares were sold to European institutional shareholders. The company will use proceeds to finance capital expenditures for production scale-up, general corporate purposes, and possible redemption of indebtedness. Lifecore's {Lubricoat} gel is undergoing clinical trials to reduce formation of postsurgical adhesion. The company currently has about $38mm in cash and investments.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630140http://www.elsevierbi.com/deals/199630140?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[HealthTech Services] (developing telemedicine home monitoring systems) raised $12mm in equity funding through Vector Fund Management, Hambrecht & Quist Capital Management, Hambro America Biosciences, ARCH Development, and Yamaichi Securities. The equity investment will help HealthTech commercialize its {HANC (Home Assisted Nursing Care) Network} in the US by the end of 1996. {HANC} is an integrated computer system that can monitor a patient's vital signs, collect video images, and check medication compliance without requiring on-site nursing supervision. HealthTech's system may help home health care providers reduce overall health care costs.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630139http://www.elsevierbi.com/deals/199630139?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Focal] (medical polymers used as surgical sealants and for drug delivery) completed a $19.7mm private placement of preferred stock. New investor Patricof & Co. bought about 40% of the offering. Other new investors included Warburg Pincus Emerging Growth, Pacific Horizon, GMGF, Sentron Medical, and H&Q Capital. Many existing investors took part again this fourth round, including Mayfield, GE Pension, Domain, Kleiner Perkins, Frazier, Delphi, Biotechnology Investments, H&Q Life Sciences, H&Q Healthcare, CIT Group, Vulcan, Glenbrook, Partech, and Invemed. Focal will use the new cash to speed its lead program--a family of surgical sealants that close air and fluid leaks that result from surgery--toward European clinical trials later this year. The company has collaborations with [Ciba-Geigy], [Chiron], and [Roche] for development of polymer-based drug delivery systems for preventing restenosis after angioplasty.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630162http://www.elsevierbi.com/deals/199630162?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[OrthoLogic] (devices for healing musculoskeletal tissue) raised net proceeds of $74.2mm in a follow-on offering of 2.5mm common shares, including the banks' overallotment, at $31 per share. The company will use the money to build its product portfolio through acquisitions of products, technologies, or businesses; it has been in talks with possible acquisition targets. Ortho's primary product is the {OrthoLogic 1000}, a portable, noninvasive bone growth stimulator based on its {BioLogic} magnetic field technology. The device was approved for marketing in March 1994 for use on non-healing bone fractures; 3-5% of the 6 million fractures that happen annually in theUS do not heal normally and require intervention. Ortho also makes and markets external and internal devices for fracture fixation and is developing other products for spinal fusion, for fracture healing, and for diagnosis and therapy of osteoporosis.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630345http://www.elsevierbi.com/deals/199630345?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Physiometrix] (noninvasive neurological monitoring) raised net proceeds of $19.7mm in its IPO of 2mm common shares at $11 per share. The money will fund development work and expansion of sales, marketing, and manufacturing capabilities. Physiometrix's product line is based on proprietary gels, signal processing electronics, and software to direct monitoring during surgical and diagnostic procedures. The company has filed the 510k application for its {Equinox} EEG neuromonitoring system, which will be a key element in the new {Patient State Analyzer}, an early warning system that converts EEG data to a visual display that anesthesiologists will read to evaluate a patient's brain status during surgery that involves general anesthesia.Mon, 01 Apr 1996 00:00:00 -0400http://www.elsevierbi.com/deals/199630027http://www.elsevierbi.com/deals/199630027?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Biofield Corp.(non-invasive breast cancer detection systems) netted $18.6mm in its IPO of 1.8mm shares at $11 per share; it will use the proceeds for R&D, clinical trials, manufacturing, sales and marketing. The company's {Biofield Diagnostic System} completed clinical tests in Europe and is awaiting US regulatory approval. It is a non-invasive procedure that identifies breast cancer by using sensors on the skin's surface to read changes in cell electrical charges. Biofield is also developing screening systems for the detection of other types of cancers through its {Biofield Diagnostic Device}, {Biofield Screening System} and {Zeroset} sensors.Fri, 01 Mar 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630036http://www.elsevierbi.com/deals/199630036?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[FemRx Inc.] (innovative surgical systems to diagnose and treat gynecological disorders) raised net proceeds of $26mm in its initial public offering of 3.1mm common shares, including the overallotment, at $9 per share; it had hoped for $11-13. The company's first product is {Opera Star}, or {Out-Patient Endometrial Resection/Ablation Specialized Tissue Aspirating Resectoscope}. With this single device, the Ob/Gyn surgeon can cut, coagulate, and aspirate tissue within the uterus without interruptions to change instruments or to clear the area of tissue chips. FemRx has also developed the {Flo-Stat} fluid management system for use in gynecological procedures.Fri, 01 Mar 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630062http://www.elsevierbi.com/deals/199630062?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[CardioThoracic Systems] (devices for minimally invasive cardiothoracic surgery) has completed its IPO of 4.45mm shares at $18 per share, netting $73.6mm. Of the proceeds, about $15 million will be used to build a sales and marketing organization to fund product introduction and surgery training programs, $12 million for R&D, $11 million for working capital, $5 million to purchase manufacturing equipment, and the remaining proceeds for general corporate purposes. The company develops proprietary disposable instruments designed to enable surgeons to perform minimally invasive surgery where a small incision is made between the patient's ribs for a revascularization procedure performed on a beating heart. The company has filed for 510k premarket clearance of some of the main instruments: {Access Platform}, the {Stabilizer}, the {IMA Harvester}, and the {Distal Perfusion Device}.Fri, 01 Mar 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630061http://www.elsevierbi.com/deals/199630061?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)In its initial public offering, [Heartport] (minimally invasive procedures for cardiac surgery), sold 5mm shares of common stock at $21 per share raising net proceeds of approximately $96.6mm. Of the proceeds, $26mm will be used for R&D, funding of clinical trials, $10mm for expansion of its corporate and manufacturing facilities, $13mm for initial sales and marketing activities and remaining proceeds of about $47.6mm for working capital. Heartport's proprietary {Port Access} systems perform minimally invasive heart surgery without cracking open the chest as is required in conventional heart surgery. Via a series of small incisions or Fri, 01 Mar 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630083http://www.elsevierbi.com/deals/199630083?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Applied Biometrics] (devices to measure cardiac output) raised net proceeds of approximately $4.64mm in a private placement of 860,000 shares of common stock at $6 per share. Proceeds will be used for corporate purposes including funding operations, sales and marketing, R&D and expansion of manufacturing facilities. Applied Biometrics develops and manufactures devices that measure the amount of blood pumped from a patient's heart throughout the body, for use in operating procedures, post-anesthesia recovery and in the intensive care unit to monitor the patient after surgery.Fri, 01 Mar 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630085http://www.elsevierbi.com/deals/199630085?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[CNS Inc.] (devices for sleep disorders) completed a follow-on offering of 1.375mm common shares at $24.88 each, raising net proceeds of $32mm. Selling shareholders ofered an additional 125,000 shares. Proceeds from the offering will be used for marketing, advertising and promotion, for certain capital expenditures, and for general corporate purposes. CNS manufactures and markets the {Breathe Right} nasal strip, an over-the-counter sleep and breathing aid that can help prevent snoring and breathing difficulty due to nasal congestion.Fri, 01 Mar 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630101http://www.elsevierbi.com/deals/199630101?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Publicly-held [Anika Research] (hyaluronic acid products) raised net proceeds of approximately $3.5mm in a private placement of 1.4mm shares of newly issued common stock to institutional investors. Proceeds will be used for working capital and repayment of debt and clinical development of {Orthovisc}, a hyaluronic acid product for treatment of osteoarthritis. Anika develops and manufactures hyaluronic acid products for surgical and therapeutic applications, including {Incert} for the prevention of surgical adhesions, and hyaluronic oligosaccharides for treatment of cancer.Fri, 01 Mar 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630153http://www.elsevierbi.com/deals/199630153?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Innotech] (develops lens casting fabrication systems) raised net proceeds of approximately $27mm from its initial public offering of 3mm shares of common stock at $10 per share. The company will use about $5mm of the proceeds for increasing inventory, $4mm to purchase capital equipment, $4mm to develop new products, $3.5mm to expand sales and marketing, and remaining proceeds for general corporate purposes. Innotech manufactures lens casting fabrication systems, including the {Excalibur System} which uses the company's {SurfaceCasting} technology, that enable eye doctors and vision stores to create high-quality mulitfocal and single vision eyeglass lenses at the point of sale.Fri, 01 Mar 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630029http://www.elsevierbi.com/deals/199630029?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Medstone International] (lithotripsy) has spun off its wholly owned subsidiary [Endocare] (devices to treat urological diseases) as a separate public company, through a dividend distribution to existing Medstone stockowners. The transaction gave away 5,515,528 Endocare common shares, one for each Medstone share held. Medstone now owns only 100,000 Endo shares, and is giving the former subsidiary $500,000 and the capital equipment, patents, and other assets that make up its business. The spinoff is meant to improve Medstone's near-term earnings (Endo will no longer rely on it for funding); let each company focus on its own core interest; and provide incentives to motivate and retain key personnel. Endo's sales have been in decline. It developed the {Prolase} laser catheter, electrosurgical devices for prostate surgery, and the {CryoCare} system, a less-invasive treatment for prostate cancer. Endo will sell R&D services to Medstone, as before.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630030http://www.elsevierbi.com/deals/199630030?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[EndoVascular Technologies] (minimally invasive systems to repair diseased or damaged vascular structures) sold 2 million common shares at $12 per share in its initial public offering. The company's lead product, the {Endovascular Grafting System}, uses a catheter to deliver a suture-less implant to repair abdominal aortic aneurysms. This MIS procedure is an alternative to the open surgery usually performed today. The {EG} is in US and international clinical trials. EndoVascular will use net proceeds of $22.3mm from the offering to fund clinical testing, facilities expansion, and R&D and to support general corporate purposes.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630035http://www.elsevierbi.com/deals/199630035?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Ultrafem] (feminine hygeine and drug delivery products) has netted about $34 million in its IPO of 3.4 million shares at $10 per share, plus 510,000 shares sold in the exercise of the underwriters' overallotment option. Ultrafem's lead product, {Instead}, is a disposable, malleable thermoplastic vaginal insert that can be used as an alternative to tampons and sanitary napkins, and also can be used as a vaginal drug delivery device for contraception, prevention of STDs, and treatment of vaginal infections. The product has been approved for marketing in the US, Canada, and nine European countries including France and the UK; Ultrafem plans to use the net proceeds of this offering to retire outstanding debt and to support the launch of {Instead}.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630038http://www.elsevierbi.com/deals/199630038?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[VitalCom] (previously Accucore; makes communications networks that interpret physiologic data from point-of-care patient monitors) went public, raising net proceeds of $25,900,000 from the sale of 2.3 million common shares at a price of $12.50. Half of VitalCom's revenues currently come from direct sales of its facility-wide networks for real-time electrocardiogram data. Over 90 acute care facilities have installed the ECG systems; the largest of them monitors up to 192 patients in three buildings. Early in 1996, the company introduced its {OpenNet} technology, which allows central surveillance of additional conditions (such as blood/oxygen saturation and blood pressure) by incorporating data from third-party monitors. VitalCom also sells central monitoring systems, clinical analysis and display software, and wireless communication components to OEM customers for use in their monitoring devices. Proceeds will repay long-term debt and serve general purposes.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630045http://www.elsevierbi.com/deals/199630045?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Hologic] (X-ray bone densitometers) raised net proceeds of approximately $47.4 million from the sale of 1.2 million shares of common stock at $42 per share. Net proceeds will be used for working capital and general corporate purposes including new product development and sales and marketing expansion. The company develops and markets X-ray bone densiotmeters with measure bone density for use in diagnosis and monitoring metabolic bone diseases including osteoporosis. Osteoporosis affects approximately 200 million people worldwide. Hologic believes the market for its products is expanding due to the recent development of new drug therapies, including [Merck]'s {Fosamax}, and increased reimbursement for bone density examinations. Hologic recently signed a cross-licensing agreement with [Lunar] to each other's x-ray and ultrasound technologies for ten years.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630047http://www.elsevierbi.com/deals/199630047?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Arthroscopic surgical equipment company [ArthroCare] raised net proceeds of $31.9mm in its initial public offering of 2.5mm shares of common stock at $14 per share. Approximately $6mm of the proceeds will be used to increase manufacturing capacity, $6mm to expand its marketing and sales force, $5mm to fund R&D efforts, $3mm for working capital, and remaining proceeds of about $11.9mm will be used for general corporate purposes. Arthroscopic surgical equipment for orthopedic use is designed to replace multiple surgical tools by using one multi-purpose electrosurgery system that can remove soft tissue and seal small bleeding vessels simultaneously, thus decreasing actual operating time. The company received FDA clearance to market its arthroscopic system in the US for knee, shoulder, elbow and ankle arthroscopic surgery. 10/96: System approved-Australia.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630046http://www.elsevierbi.com/deals/199630046?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Raising $9 million in a private financing, medical device company [Implemed] will use the proceeds to launch its anti-infection {Oligon} material and antimicrobial catheter. Investors included venture capitalists, private investors, and hospital consortia including a $2.5 million investment from [AmHS/Premier/SunHealth]. Implemed plans to market and outlicense the {Oligon} technology. Its first products will target the central venous catheter market. A device made with the {Oligon} anti-infective material will prophylactically combat infection through the active release of antimicrobial silver ions from the device surfaces. Remaining proceeds will be used to support the launch of {Olimpicc} (a peripherally inserted central venous catheter), to develop more products in vascular access, to initiate clinical studies in the UK, Norway and the US, and to fund general operations.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630048http://www.elsevierbi.com/deals/199630048?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Automatic external defibrillator developer [Heartstream] raised net proceeds of $50mm in its initial public offering of 4.14 million shares of common stock, including the overallotment, at $13 per share. Approximately $11 million of the net proceeds will be used to build a sales and marketing organization, $6 million for R&D, $3 million to purchase manufacturing and engineering equipment, with the remaining proceeds dedicated to general corporate purposes. Heartstream's {ForeRunner}, a small lightweight automatic external defibrillator, incorporates proprietary technologies including biphasic waveform technology that achieves effective defibrillation at substantially lower energy levels than currently available defibrillators. The {ForeRunner} (filed 510k Dec. '95) has a self-test feature allows it to be easy to use, is almost maintenance free, and inexpensive.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630057http://www.elsevierbi.com/deals/199630057?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[LocalMed] (develops catheters that deliver therapeutic agents) raised approximately $16 million in its second private placement to new and existing investors. The company raised $4 million in its first venture round. New investors included Rothschild's International Biotechnology Trust, Hambrecht & Quist, J&J Development Corp. and T. Rowe Price. LocalMed currently markets the {InfusaSleeve} local drug delivery catheter based on its over-the-balloon technology, an infusion sleeve which tracks over any angioplasty balloon and can deliver medication directly to the angioplasty site. LocalMed is developing several interventional cardiology products based on the same technology, including the{PerfusaSleeve} for converting standard angioplasty balloons into perfusion balloons and the {StentaSleeve} stent delivery product.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630060http://www.elsevierbi.com/deals/199630060?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Travelers Corp. of New York has made a $6 million equity investment in [Palomar Medical Technologies] (medical lasers). Travelers is the parent of the investment bank Smith Barney. Palomar, which trades publicly, will use the proceeds to fund expansion. This month, it is adding to its extensive line of products for cosmetic laser surgery by acquiring a private company, [Tissue Technologies], which makes a low-pricedlaser for removing wrinkles. In addition to its dermatology line, Palomar has a device for performing non-surgical tonsillectomies and a diode laser that uses injected dye to diagnose the severity of burns; both of these machines are approaching clinical trials.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630123http://www.elsevierbi.com/deals/199630123?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Landec], which makes temperature-activated polymer products, completed its initial public offering of 2.8mm shares at $12 per share, raising $30.5mm in net proceeds. The company will use $15mm of the proceeds for capital expenditures through 2000, $10mm to build or acquire production-scale polymer manufacturing facilities, and remaining proceeds for working capital and general corporate purposes. Landec's products, including casts and splints, are based on its proprietary {Intelimer} polymers, which differ from other polymers in that they can change their physical characteristics when heated or cooled. {QuickCast} splints and casts shrinkto fit injured limbs when heated with a hair dryer. Landec is also developing an ophthalmic device for treatment of dry eye, with a 510k to be filed in late 1996.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630554http://www.elsevierbi.com/deals/199630554?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Optical Sensors] (blood gas monitoring) completed its initial public offering of 2,875,000 common shares (including the banks' greenshoe option) at $13 per share, netting over $34.8mm. Optical's lead product, called the {SensiCath}, is an intravascular arterial blood gas (ABG) monitoring system that uses fiber optics. It stays attached to the patient to provide on-demand results (oxygen, carbon dioxide, and pH levels) that take only a minute and require no blood drawing. Speed is essential in monitoring unstable, critically ill patients whose ABG levels can change significantly in just a few minutes. The {SensiCath} system received 510k marketing clearance in Jan. 1996.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630552http://www.elsevierbi.com/deals/199630552?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Conceptus] (catheter technology to treat female infertility and male impotence) completed its initial public offering of 3mm common shares at $14 each, netting $40mm. The company filed last November to offer 2.5mm shares at $11-$13 each. The company will use $7.4mm of the proceeds to fund R&D, $3mm to fund clinical trials, $11.2 to expand its sales and marketing effort and $1.2mm to buy capital equipment. Conceptus recieved four 510k approvals this year for its {Transcerval Access Catheter} ({T-TAC}), and began marketing the system for diagnosing proximal tubal acclusion.Thu, 01 Feb 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630002http://www.elsevierbi.com/deals/199630002?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[ESC Medical Systems] (intense pulsed light technology for non-invasive treatment of benign vascular lesions such as varicose veins) raised net proceeds of $32.5mm in its IPO of 2.3 million common shares at $15 per share. Selling shareholders of the Israeli company are offering an additional 800,000 shares. ESC's first product, {PhotoDerm VL} (got FDA approval last summer and quickly placed 90 units), applies selective photothermolysis, which uses heat energy to selectively destroy the targeted lesions without affecting surounding tissue. A second pulsed light product is {PhotoDerm PL} (in advanced clinicals; 510k application to be made soon), which removes benign pigmented lesions such as age and sun spots and tattoos. ESC will use about $8.5 million of the proceeds to expand its marketing sales effort and set up sales support centers; another $6.5mm will go to research and development, including clinical testing and regulatory approvals.Mon, 01 Jan 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630006http://www.elsevierbi.com/deals/199630006?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[EchoCath] (devices to enhance, expand the use of ultrasound) raised net proceeds of $6,335,000 in its IPO of 1,400,000 units at $5 per unit, each consisting of a Class A common share plus one each Class A and Class B redeemable warrant. With the proceeds, EchoCath will pay off a $1 million bridge financing and repay $360,000 of other debt; another $1.2mm will go to developing in-house marketing and sales capability. The company has received FDA clearance to sell its {ColorMark Clip}, a visualization system that highlights metallic objects, such as needles, in color, to make them easily visible on ultrasound imaging screens, and it will commence marketing it to radiologists and breast surgeons for needle biopsy procedures and to interventional radiologists and invasive cardiologists for vascular access procedures. EchoCath's {EchoMark} Ob/Gyn catheter images fallopian tube blockages. In the financing, selling security holders offered a further 500,000 units. Mon, 01 Jan 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630010http://www.elsevierbi.com/deals/199630010?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Privately-held [Aradigm] (pulmonary drug delivery) raised $11.6 million in a mezzanine financing. The company has raised a total of $24 million since its inception in 1991. Investors included Sequoia Capital, Technology Venture Investors, Brentwood Associates, Sprout Group, and new investors Frazier & Co., GE Capital, and SBC Capital Markets. Funds will be used for clinical development of compounds that have already been approved for delivery by inhalation or injection or are in late stage human clinical trials. Aradigm's technology enables patients to self-administer inhaled medications directly to the lung, offering an alternative to injections. Aradigm plans to work with pharmaceutical companies to incorporate drugs into its hand-held delivery systems, initially targeting asthma, diabetes, and pain management.Mon, 01 Jan 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199630007http://www.elsevierbi.com/deals/199630007?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Publicly-held [Inamed] (medical devices for plastic, reconstructive and general surgery) raised $34.9 million in net proceeds from a private placement of 11% secured convertible notes. The notes will mature in three years and will convert at $10 per share. Investors included Dreyfus Corp., SC Fundamental Value Fund, Oracle Partners and Atticus Capital. Proceeds will be used to pay legal costs relating a mandatory breat-implant litigation issue, and for product development and expansion of its manufacturing facilities.Mon, 01 Jan 1996 00:00:00 -0500http://www.elsevierbi.com/deals/199530320http://www.elsevierbi.com/deals/199530320?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Physio-Control International Corp.] (external defibrillators and other cardiac devices) raised net proceeds of $15.4 million in an international IPO of 1.1mm common shares at $14.50 per share. Selling stockholders placed an additional 10.5mm shares. PCIC will use net proceeds to pay off debt, including loans incurred in the leveraged buyout of the company from [Eli Lilly] by Bain Capital and other investors in 1994. Through the offering, Bain is reducing its ownership position from 87% to 20%. PCIC, started in 1955 by the inventor of the first commercial direct current defibrillator, makes the {Lifepak} line of defibrillators and vital sign assessment devices for emergency and in-hospital use. From 1980-94 PCIC belonged to Lilly. In 1992 the FDA cited the company for violations of reporting procedures and Good Manufacturing Practices; PCIC suspended manufacturing and shipping pending FDA review; all its principal products were approved and back on line by mid-1994. Fri, 01 Dec 1995 00:00:00 -0500http://www.elsevierbi.com/deals/199530321http://www.elsevierbi.com/deals/199530321?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Orquest] (biological matrices to direct regeneration of cartilage and bone) raised $8.1 million in its second round of venture financing. Orquest is a joint venture formed in 1994 by [Metra Biosystems] and [Norian]. The investors were Asset Management Co., Charter Ventures, GC&H Investments, Life Sciences Entrepreneur Fund, Mayfield Fund, Sprout Group, and Weiss Peck & Greer. The new funds will allow Orquest to begin European clinical testing of {Healos}, a bone grafting matrix for spinal fusion and long bone fractures. The company is also evaluating matrices for bone growth factors and cartilage regeneration. Orquest's biomaterials remain in the body temporarily during the healing process, encouraging the body to totally replace them with its own regenerated materials.Fri, 01 Dec 1995 00:00:00 -0500http://www.elsevierbi.com/deals/199530328http://www.elsevierbi.com/deals/199530328?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Rochester Medical] raised net proceeds of $16 million in a public offering of 1.3 million shares, including the overallotment, at $13.50 per share. Proceeds will be used to help construct and equip an additional manufacturing facility, to expand sales and marketing activities, to fund clinical trials, for R&D, and for working capital and other general corporate purposes. Fri, 01 Dec 1995 00:00:00 -0500http://www.elsevierbi.com/deals/199530333http://www.elsevierbi.com/deals/199530333?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Survivalink] (automatic external defibrillators) has raised $5.25 million in a private placement of 1,750,667 shares at $3 per share. Proceeds will be used to aid the launch of the {VivaLink} AED, which received FDA approval in February. The product will be marketed to Fri, 01 Dec 1995 00:00:00 -0500http://www.elsevierbi.com/deals/199530337http://www.elsevierbi.com/deals/199530337?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Conmed Corp.] (surgery and critical care products) completed a follow-on offering of 2.5mm shares of common stock at $22 each, raising net proceeds of $52mm. Selling shareholders offered an additional 854,589 shares. Net proceeds will be use d to retire most of the debt outstanding from Conmed's purchase of [Birtcher Medical Systems Inc.] and [The Master Medical Corp.] and debt expected to be incurred with the purchase of the assets of [New Dimensions in Medicine Inc.] in 1996.Fri, 01 Dec 1995 00:00:00 -0500http://www.elsevierbi.com/deals/199530377http://www.elsevierbi.com/deals/199530377?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Ortec International] (natural skin replacement) netted $4.91mm in its IPO of 1.2mm units, each consisting of one share of common stock, one class A and one class B warrant, at $5 per unit. The class A warrants are exercisable at $10 per share for eighteen months; the class B warrants at $15 per share for three years following the closing date. Ortec will use the proceeds to fund R&D and human clinical trials, to pay debts, for general corporate purposes and working capital. Founded in 1991 to fund development of technology licensed from Dr. Mark Eisenberg of Sydney, Australia, Ortec is a biotechnology company that develops technology to repair human tissue. US trials for {Composite Cultured Skin}, its technology for the treatment of severe burns, have been conducted on six individual burn victims since 1994.Fri, 01 Dec 1995 00:00:00 -0500http://www.elsevierbi.com/deals/199530378http://www.elsevierbi.com/deals/199530378?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Cardima] (develops and manufactures micro-catheter devices for cardiac arrhythmia mapping and ablation) raised $9.8mm in its fourth round of venture financing. Venture capital firms Atlas Venture, Integral, Kleiner Perkins, New Enterprise Associates and Olympic participated in the round. Kleiner Perkins and New Enterprise Associates participated in the first financing round in May 1993.Fri, 01 Dec 1995 00:00:00 -0500http://www.elsevierbi.com/deals/199530218http://www.elsevierbi.com/deals/199530218?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Physician Sales & Service] (distributor to the doctor's office market) raised a net of $142.9 million in a follow-on offering of 8.8 million shares, including the overallotment, at $17 per share. The stock recently split, 3-for-1. Selling shareholders placed an additonal 2.7 million shares. PSS runs 62 service centers that distribute medical supplies, equipment, and pharmaceuticals to primary care doctors and other office-based physicians at 77,000 sites in 48 states. Near term, PSS wants to become capable of serving every Zip code in the US by 1997. To meet this goal, the company reckons it must build or acquire five more service centers.Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530221http://www.elsevierbi.com/deals/199530221?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Perclose Inc.] (devices for minimally invasive surgery) completed its IPO of 2,875,000 shares of common stock, including the greenshoe option, at $13 per share. Proceeds will be spent on development, clinical testing, manufacturing, and marketing. The Perclose products, {Prostar} and {Techstar}, are used to surgically close the arterial access sites in catherization procedures like angiography and angioplasty. The systems are used in MIS percutaneous procedures and are meant to safely and economically replicate results that were previously limited to open surgery. A Perclose closure achieves hemostasis without the need for a blood clot. The company reports that about 2500 of its systems have been used in Canada and Europe. {Prostar} (two sutures, for closing larger arterial access sites) is in clinical trials in the US, and {Techstar} (single suture) is nearing international clinicals.Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530232http://www.elsevierbi.com/deals/199530232?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)Amending its registration to sell 3 million shares, [PolyMedica Industries] (specialized wound care) sold 700,000 public shares priced at $6.50 in a follow-on offering. Net proceeds were $4.3 million. PolyMedica designs products based on custom polyurethane polymers. Its first commercialized items are the {Mitraflex} and {Spyroflex} wound dressings, which it sells to health care institutions. It makes a polyurethane biomaterial [Bard] uses for manufacturing catheters and has in preclinical development synthetic vascular grafts that will be used to replace or repair damaged or diseased arteries or to bypass blockages. PolyMedica's consumer offerings, marketed through chainstores, include thermometers, pediatric products, the {Webcon} OTC and prescription urologicals acquired from [Alcon] in 1992, {Azo-Standard} OTC treatments for urinary tract infection, and a new wound dressing line called {Patch Kits for People}. Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530237http://www.elsevierbi.com/deals/199530237?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Endosonics] (cardiovascular devices) sold 2.3 million common shares at $14.25 per share in a follow-on public offering. Endosonics develops intravascular imaging systems and catheters specialized for diagnostic imaging and for combined imaging and angioplasty. It partners with [Cordis] for marketing its {Oracle} IVUS (intravascular ultrasound) imaging systems and with [SciMed] for its cardiovascular catheters. The IVUS technology is being used for positioning stents, currently a red hot item in interventional cardiology; and Endosonics is also developing the {Focal} membrane balloon, which can be selectively dilated at the precise locus of intended therapy to tissue damage to adjacent sections of artery wall. Endosonics' majority-owned subsidiary [CardioVascular Dynamics] makes catheters for site-specific drug delivery and angioplasty.Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530241http://www.elsevierbi.com/deals/199530241?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[UroMed] (incontinence devices) has completed a follow-on offering of 2.5 million shares at $9 per share, netting the company $20.8 million. UroMed plans to use $13 million of the proceeds and existing cash to finance trials on its {Reliance} insert for female incontinence (the product is already marketed in Germany and the company has filed a 510k in the US). Another $26 million will be used to scale up manufacturing and marketing capabilities.Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530265http://www.elsevierbi.com/deals/199530265?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Gynecare] (devices for uterine disorders) has completed an IPO of 1.7 million shares, at $10 per share, netting about $15 million in proceeds. Proceeds will be used for further clinical development of its lead product, the {Uterine Balloon Therapy} system for the treatment of excessive menstrual bleeding. The system was licensed from [Guidant] unit [Origin Medsystems], which will own 28.9% of Gynecare following the offering. Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530290http://www.elsevierbi.com/deals/199530290?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Norian] (bone-mineral substitutes) completed a private equity financing of $19.8 million. The new equity funding will be used for general operating needs and to support expanded clinical trials of its {Norian SRS (Skeletal Repair System)}, an injectable bone-mineral substitute designed to simplify, improve or expand the treatments of bone fractures and defects. The technology has been in controlled commercial use in the Netherlands since early 1995 and is currently under investigational study in the US. Norian hopes to launch Norian SRS for general use in North America and Europe in 1997 and in Japan and other countries in 1998.Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530306http://www.elsevierbi.com/deals/199530306?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Ophthalmic Imaging Systems Inc.] (digital diagnostic imaging for ophthalmic and optometric uses), which trades on Nasdaq, raised gross proceeds of $1.3 million through a private placement of 1,368,421 unregistered units priced at $0.95 each. Each unit contains one common share plus one each Series A and Series B redeemable common stock purchase warrant. The unit price is a considerable discount from OISI's recent public trading price, which was $2.25 at the close of the day before this financing was announced. The company makes the {WinStation}, which is used for a diagnostic procedure called fluorescein angiography; unlike traditional FA, this system requires no film, processing, or printing, and gives immediate results that can be stored on an optical laser disk or CD-ROM. The {Glaucoma-Scope} detects glaucoma, tracking the topography of the optic nerve head over a series of patient visits and storing images and other data.Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530317http://www.elsevierbi.com/deals/199530317?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Visx] (laser vision correction) has raised $55.6 million in a follow-on offering of 2.5 million shares at $23.75 per share. Net proceeds will be used to fund clinical trials on the company's proprietary laser vision correction (LVC) system and for general corporate purposes. Visx plans to begin reciving royalties in 1996 through its [Pillar Point] LVC joint venture with [Summit Technologies]; Summit recently received marketing approval for LVC treatment of low-level myopia. Visx's revenues are currently derived from sales of its LVC systems to its exclusive distributor, [Alcon].Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530314http://www.elsevierbi.com/deals/199530314?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Trex Medical], a newly-formed subsidiary of [Thermotrex Corp.] (itself a division of [Thermo Electron]), has raised $17.5 million in the private placement of 1.852 million shares at $10.25 per share. Following the placement, Thermotrex owns 91% of Trex. Trex consists of Bennett X-Ray Corp. (acquired by Thermotrex in June '95), Lorad Corp., (manufacturer of mammography systems and minimally-invasive biopsy systems acquired by Thermotrexin October '92), and additionally is developing the {Sonic CT} system and digital imaging technologies.Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530365http://www.elsevierbi.com/deals/199530365?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Electropharmacology Inc.] (makes a pulsed radio frequency therapeutic device; raised $5.7 million in 5/95 IPO) grossed $2 million in a private placement of 421,950 Series A convertible preferred shares and warrants to buy 1,791,950 common shares. The purchaser, Norton Herrick (CEO of Herrick Co., Boca Raton; described by EPI as a well-known corporate figure in the real estate and sports industries) can convert his perferred shares to common on a 1:1 basis for a 13% stake in the comany. If he exercises the warrants, he will pay about $9 million to increase his holding to 43%. The company will use the proceeds to fund its national roll-out of products and possibly also for product acquisitions. EPI makes the high-frequency {sofPulse} device, which is applied externally to soft tissue to reduce pain and edema; it is currently sold mostly to nursing homes, but has potential for the sports medicine market.Wed, 01 Nov 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530202http://www.elsevierbi.com/deals/199530202?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[OrthoLogic] (orthopedic trauma products that improve healing of musculoskeletal tissues) completed a follow-on public offering of 2mm common shares (including the greenshoe) priced at $9.50. Certain stockholders offered about another 701,000 shares in the transaction. In the company's most recent financing, a private placement last March, shares sold at only $4. OrthoLogic's top product is its {OrthoLogic 1000} bone growth sti device, which got FDA marketing approval in 1994. It can be used as an alternative therapy to surgical insertion of screws, rods, and other hardware, which is the typical treatment for non-healing fractures. OrthLogic also sells other products developed from the same technology, and external devices for fracture fixation.Sun, 01 Oct 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530236http://www.elsevierbi.com/deals/199530236?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Allied Healthcare Products], manufacturers of respiratory products and medical gas equipment, completed a follow-on offering of 1.61 million shares (including 210,000 in over-allotments) of common stock at $17.25 per share, raising about $25 million. AHP plans to use the proceeds to reduce indebtedness incurred with the acquisitions of Bear Medical Systems Inc. (critical care ventilators) for $15.4 million, and BiCore Monitoring Systems Inc. (monitoring systems and equipment for ventilators) for $4.7 million, in February and May 1995, respectively. These acquisitions were financed primarily through bank borrowings. AHP's products are used in hospitals, alternate site settings, including home health, trauma care and post-acute care facilities.Sun, 01 Oct 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530257http://www.elsevierbi.com/deals/199530257?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Imatron], manufacturer of CT scanners, completed a $9 million private equity financing to a group of institutional investors in Switzerland. Proceeds from the offering will be used to develop international markets for Imatron's high performance CT scanners, which use proprietary scanning electron beam technology, and to establish a clinical research facility in San Francisco. Imatron's {Ultrafast} CT scanner is a screening device for early detection of coronary artery plaque. Several hospitals use {Ultrafast}, including The Mayo Clinic, University of Iowa, NIH, UCLA, Tokyo University Hospital and the Beijing Hospital.Sun, 01 Oct 1995 00:00:00 -0400http://www.elsevierbi.com/deals/199530272http://www.elsevierbi.com/deals/199530272?elsca1=custom&elsca2=rss&elsca3=%3ftype%3dDeals%26advanced%3d%2520(%2540industries%253d%2522Medical%2520Devices%2522)%2520and%2520(%2540dealtype%253d%2522Financing%2522)[Summit Technology] (ophthalmic laser systems) has netted over $100 million in a follow-on offering of 2.53 million shares, including 330,000 sold in the exercise of underwriters' overallotment options, at $41.50 per share. Some proceeds of the offering will be used for the development and marketing of the company's laser vision correction centers; the company plans to open 20 to 30 of these centers, in which nearsightedness will be treated with photorefractive keratectomy procedures using the company's FDA-approved excimer laser systems, within the next twelve months. Further proceeds will be used to scale up manufacturing capacity and for further research and development.Sun, 01 Oct 1995 00:00:00 -0400