Pavmed (NSDQ:PAVM) announced today that its majority-owned subsidiary Lucid Diagnostics will spin off into a separate public company. In a news release, Pavmed said Lucid Diagnostics intends to spin off if favorable market conditions continue to hold, whether it be through an initial public offering (IPO) or a business combination with a healthcare special purpose acquisition corporation. […]
Funding Roundup
MedTech 100 roundup: Slight dip after all-time best for industry
The medtech industry’s stocks rose higher than they ever had to begin last week before eventually dropping to a slightly more normal level. MassDevice‘s MedTech 100 index ended the week (Feb. 19) at 108.72 points, marking a -1.7% dip from the 110.63-point mark set at the end of the previous week (Feb. 12). On Monday (Feb. […]
Evox Therapeutics completes $95.4M Series C
Evox Therapeutics announced today that it raised $95.4 million (£69.2 million) in a Series C financing round. Oxford, England-based Evox’s financing was significantly oversubscribed with high demand from both existing and new investors, according to a news release. Get the full story at our sister site, Drug Delivery Business News.
Conformis closes $79.6 million offering
Conformis (NSDQ:CFMS) announced today that it closed an underwriting agreement to sell common stock worth approximately $79.6 million. The offering made by the Billerica, Mass.-based company includes the sale of nearly 81 million shares of common stock at a public offering price of $1.05 per share, bringing the expected net proceeds to approximately $79.6 million, according […]
Mainstay Medical raises $108M
Neurostimulation technology developer Mainstay Medical announced that it closed an equity financing worth gross proceeds of $108 million. Dublin, Ireland-based Mainstay said in a news release that it plans to use the funds for the commercial launch of the ReActiv8 system in the U.S., along with continued expansion in Europe and Australia, plus post-market clinical […]
Retractable Technologies lands $54.2M federal contract for syringes
Retractable Technologies (NYSE:RVP) announced that it received a government contract worth more than $54.2 million for its syringes. Little Elm, Texas-based Retractable Technologies’ contract and purchase order was made by the U.S. Health & Human Services Dept. (HHS) with a base price of $54,217,800 for a five-month period between Feb. 15, 2021, and July 14, 2021. […]
Hancock Jaffe completes $41M offering
Hancock Jaffe Laboratories (NSDQ:HJLI) announced that it successfully completed a public offering worth $41.1 million. Irvine, Calif.-based Hancock Jaffe sold more than 5.9 million shares of common stock and warrants to purchase nearly 3 million common shares in the offering, according to a news release. The $41.1 million collected in proceeds by the company are earmarked […]
SmileDirectClub prices $650M offering
SmileDirectClub (NSDQ:SDC) announced last week that it priced an offering of convertible senior notes worth $650 million. Nashville, Tenn.-based SmileDirectClub is offering $650 million in aggregate principal amount of 0% convertible senior notes due in 2026, according to a news release. The company increased the offering size from the previously announced $350 million with the intention […]
MedTech 100 roundup: Index hits another all-time high
The beginning of February brought yet another peak for medtech stocks. MassDevice‘s MedTech 100 index ended the week (Feb. 5) at 108.23 points, marking a 4% rise from the 104.05-point mark set at the end of the previous week (Jan. 29). The final mark for the week sets an all-time best for the index, which had […]
BREAKING: Zimmer Biomet to spin off spine and dental businesses
Zimmer Biomet (NYSE:ZBH) — one of the world’s largest orthopedic device companies — will be a bit smaller going forward. The Warsaw, Ind.–based company announced today that it will spin off its spine and dental businesses into a new, independent, publicly-traded company called NewCo. Zimmer Biomet plans to complete the transaction by mid-2022. The businesses that […]
Ortho tech company Bioventus launches IPO
Bioventus today announced the commencement of its initial public offering, selling 7.35 million shares of Class A common stock at $16–18 per share, which could fetch the company roughly $118–132 million. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol “BVS.” The offering will be made only by […]
