Edwards lands four-year $500 million revolving credit facility | Funding Roundup

August 9, 2011 By MassDevice staff Leave a Comment

Edwards Lifesciences Corp. (NYSE:EW) landed a new four-year $500 million credit facility after canceling a prior one a couple months early.

The old facility was a five-year deal, also for $500 million, that was scheduled to mature September 29, 2011.

Under the new agreement, Edwards, which ranked 46th on the MassDevice Big 100 list of the world’s largest medical device companies, is eligible to increase its facility up to another $250 million, subject to certain terms and conditions.

Here’s a roundup of other dealflow and investment news:

Knome raises $5 million for gene sequencing
Cambridge, Mass.-based Knome Inc. raised $5 million of a $20 million equity funding round that began mid-July. The $5 million came from one unnamed investor, filings show.
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Cardia touts closes $2 million round
Minnesota-based Cardia Inc., maker of cardiac implants for treatment of congenital heart defects, closed a $2 million funding round spread across 24 investors.
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NeoChord pulls in nearly half of a $11 million round
Minnesota-based biotech firm NeoChord Inc. raised just over $5 million of a $11 million series B preferred stock and warrant round, gathered from 44 investors. NeoChord makes a minimally invasive implant for patients with ruptured or elongated mitral valves.
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Restoration Robotics touts $41 million for hair restoration
Restoration Robotics Inc. landed $41 million through a series C financing round. Investment in the physician-controlled, computer-aided hair restoration robotics company was led by Clarus Ventures, and joined by Sutter Hill Ventures, Alloy Ventures and Interwest Partners.
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Vessix Vascular closes a $23 million round
Laguna Hills, Calif.-based radiofrequency catheter maker Vessix Vascular Inc. closed a $23 million series B preferred stock financing round led by Edmond de Rothschild Investment Partners. The company plans to use the funds as working capital to accelerate development initiatives and to fund clinical trials to expand clinical indications for its RF balloon catheter technology.
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Abaxis repurchases stock
Abaxis Inc.’s (NSDQ:ABAX) board of directors approved a $40 million common stock repurchase program, to be made from time to time on the open market.
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Acutus Medical wins $1 million from private investors
San Diego, Calif.-based Acutus Medical Inc. landed a $1 million investment from private investors, including Index Ventures. The company develops electrophysiological mapping technology for treatment of cardiac arrhythmias.
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Mojo Vision developing ‘smart’ contact lens
Mojo Vision is working with the FDA to develop a smart contact lens to help people with low vision. The lens overlays real-time contrast and lighting enhancements with zoom functionality and recently won FDA breakthrough device designation. “Receiving the Breakthrough Device Designation is a significant step in our research and development process. We look forward to… […]
FDA to EPA: Leave us out of your ethylene oxide rule
This article has been updated with comments from the FDA. The FDA has asked the Environmental Protection Agency to leave the FDA out of its proposal for stricter regulation of ethylene oxide (EtO) emissions, and the EPA complied. In an interagency comment on the EPA’s proposed rule governing commercial EtO users — which includes medical… […]
Clippart debuts stepper-controlled flow valve
Clippard recently launched a new stepper-controlled proportional valve for precision flow control. The Eclipse valve uses the industry’s most robust and powerful miniature linear actuator, according to Cincinnati-based Clippard. The patent-pending Eclipse is designed for liquid and gas delivery, medical, analytical and industrial automation requiring ultra-fine resolution and repeatability. The design also allows for custom… […]
Supporting regulatory affairs departments to address clinical requirements under new MDR
By Dietmar Falke and Jaap Laufer, Emergo Group The May 25, 2020 MDR deadline is approaching rapidly, and by now many medical device manufacturers are aware that the MDR requires the proactive collection of post-marketing clinical follow-up (PMCF) data. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog… […]
5 tips to raise funding for your medical device
Securing funding can be a long and tedious process, and medical device businesses must work to position themselves as especially attractive to potential investors to maximize success and accelerate the fundraising process. Jon Speer, Greenlight Guru According to Alejandro Cremades, author of The Art of Startup Fundraising, it can take from six to nine months… […]
FDA recognizes latest ISO 14971 as medical device consensus standard
By Mark Leimbeck and Stewart Eisenhart, Emergo Group The US Food and Drug Administration has granted Recognized Consensus Standard status to the third edition of the ISO 14071 risk management standard for medical devices and IVD products. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog post are… […]
Synaptive Medical updates Modus V surgical microscope
Synaptive Medical announced that its U.S. and Canadian Modus V robotic digital microscope now includes updates such as additional 3D visualization and voice-activated control. The Modus V is a robotically controlled digital microscope used as part of Synaptive’s BrightMatter surgical suite designed for less invasive, patient-specific approaches in complex cranial procedures. The Modus V provides similar… […]
New machine can preserve donor livers for 1 week
Researchers in Switzerland have built a perfusion machine that can preserve human livers for transplantation for a week or more, potentially slashing the number of donor livers that must be discarded due to time-related deterioration. Existing perfusion technology can preserve a donor liver for up to 24 hours. The team of surgeons, biologists and engineers… […]
Smiths Medical launches Portex tracheostomy tubes and kits
Smiths Medical this week launched its Portex polyvinyl chloride tracheostomy tube and kit portfolio. The new polyvinyl chloride (PVC) tube portfolio has options for a variety of patients, according to the company. “Our goal was to create tracheostomy tubes and kits designed to help clinicians provide the best patient care. We’re excited to offer a variety… […]
FDA clears Cleveland Clinic 3D-printed airway stents
The FDA recently cleared 3D-printed, patient-specific stents developed by a doctor at the Cleveland Clinic. Cleveland Clinic physician Tom Gildea developed the stents to keep open the airways of patients with serious breathing disorders caused by inflammation, trauma, tumors and other masses. Airway stents come in a limited number of sizes and shapes and are… […]
Boston Scientific shares drop on Q4 sales news
Shares in Boston Scientific (NYSE:BSX) dropped 8% this morning on news of disappointing fourth-quarter sales. The company’s preliminary earnings report showed sales for the quarter ended Dec. 31, 2019 coming in at $2.9 billion, below the $2.91 billion that analysts were expecting. The unaudited sales figure represents organic growth of 7.3%, missing the company’s own guidance of… […]