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InfraRed Imaging looking for $500,000
Less than a year after raising about $800,000 through a Third Frontier grant from the state of Ohio, vascular imaging company InfraRed Imaging Systems Inc. is looking for more.
The company intends to raise $500,000, and has so far received commitments for about $50,000 of that amount, according to a filing with the Securities & Exchange Commission.
CEO Dale Siegel didn’t immediately return a call or e-mail.
Riverside Co. picks up software maker CareFacts
Private equity firm Riverside Co. acquired CareFacts Information Systems.
St. Paul, Minn.-based CareFacts makes software that helps homecare, hospice, and public healthcare organizations manage back office and regulatory information. Riverside said CareFacts will bolster its HEALTHCAREfirst business, which provides similar software services through the Internet. The terms of the deal were not disclosed.
Biolyst looks for cash to franchise neuropathy laser treatment
Biolyst LLC is seeking $1.25 million from the sale of equity and options, according to a Securities & Exchange Commission filing.
The Plymouth, Minn.-based company wants to franchise a laser system that treats peripheral neuropathy, a painful nerve disease. Biolyst, which plans to launch the system this quarter, is targeting 30 chiropractor and podiatry clinics a year, or about 200 clinics in five years, CEO Phil Walter said in a telephone interview.
Medtronic’s heart tissue freezing treatment gets first use at Mayo
Mayo Clinic was the first medical center to use Medtronic Inc.’s (NYSE:MDT) heart tissue freezing device.
Hospital physician Dr. Douglas Packer yesterday treated an atrial fibrillation patient with the Minneapolis-based company’s Arctic Front cardiac cryoablation catheter system.
Boston Scientific doubles down on neuromodulation with $78 million Intelect Medical buyout
UPDATED: Jan. 5, 2011, 5:10 p.m. EST
Just a few weeks after taking its pain management arm off the auction block, Boston Scientific Corp. (NYSE:BSX) doubled down on the division with a $78 million buyout of Intelect Medical Inc.
After shopping its neuromodulation business for a spell last year, the Natick, Mass. based medical device maker pulled it off the market Dec. 15 after failing to find a suitor ardent enough to swallow a $1.5 billion price tag.
LifeImage closes $12 million round
LifeImage Inc. completed its second funding round, bringing in $12 million, according to The Boston Globe.
The Newton, Mass.-based start-up develops a cloud-computing based medical image sharing platform.
FDA warns Smith & Nephew over German plant
The Food & Drug Administration sent a warning letter to Smith & Nephew plc (NYSE:SNN) regarding quality control problems at its Tuttlingen, Germany, orthopedic plant.
Smith & Nephew failed to document certain steps regarding sterilization testing for hip-replacement components, the FDA said in its missive.
Report: Beckman suitors band together
The field of private equity firms weighing a buyout of Beckman Coulter Inc. (NYSE:BEC) has narrowed, according to Reuters.
The auction for Brea, Calif.-based medical device and diagnostics maker reached its second round and interested firms have either paired up or dropped out of the bidding process.
FDA warns Invacare on burning beds
Invacare Corp. (NYSE:IVC) was slapped with a warning letter by federal regulators for failing to adequately investigate reports of fires and sparks from electric beds that in some cases allegedly resulted in patient deaths.
The warning letter from the Food & Drug Administration contains several disturbing consumer complaints related to Invacare’s adjustable beds, including one in April about a fire that started at the foot of a bed and resulted in a consumer’s death.