Here’s a roundup of the latest dealflow and investment news:
- Fresenius raises $1 billion through debt offering
Fresenius Medical Care AG & Co. KGaA, the world’s largest provider of dialysis products and services, announced the pricing of US$-denominated and €-denominated senior unsecured notes in the principal amounts of $650 million and €300 million, respectively, both due 2021. The principal amount of the US$ senior notes was increased from the amount initially offered of $500 million. Net proceeds amounting to approximately US$1,033 million from the offering will be used to repay indebtedness, for acquisitions including the company’s recently announced acquisition of Euromedic’s dialysis service business and for general corporate purposes to support the renal products and services business.
- Nexstim Raises over €11 Million in New Equity Financing
Nexstim Oy, a medical device company commercializing noninvasive brain diagnostic and therapy technologies, announced that it has closed on additional equity financing of approximately EUR 11.4 million. The investment round was led by new investor Lundbeckfond Ventures (Denmark), with new investor Ilmarinen Mutual Pension Insurance Company (Finland) also joining Nexstim´s existing venture capital investors HealthCap and LSP (Life Sciences Partners), as well as Sitra and Finnish Industry Investment Ltd. To date, Nexstim has raised over EUR 30 million.
- OrthoSensor raises $21 million in Series B round
OrthoSensor Inc., the leader in developing intelligent orthopedic implants and sensor-assisted surgery systems, announced that it has arranged $21 million in Series B financing. The Series B was led by Ziegler Meditech Equity Partners, LP, and an unnamed strategic investor. OrthoSensor is developing and commercializing intelligent orthopedic devices that will enable evidence-based orthopedic surgery and remote monitoring of orthopedic implants with the goal of improving patient outcomes and reducing the cost of treating musculoskeletal disease.
- Microvisk Technologies drums up $9.5 million
Microvisk Technologies, the developer of a handheld system to monitor the blood clotting status of patients taking the drug Warfarin, has raised £6 million through a rights issue to existing investors in an oversubscribed round. This is the third successful funding round for Microvisk, which has secured £10.5m in the past 12 months – the largest amount raised by a UK life science company.
- Digital Assent secures $2 Million series A financing to grow PatientPad point-of-care network
Atlanta-based Digital Assent, provider of the PatientPad self-service patient check-in and patient education solution, announces the closing of a $2 million Series A round of equity financing led by Imlay Investments, Fulcrum Equity Partners and BLH Venture Partners.
- PhysioSonics Completes Series B Funding
PhysioSonics Inc., an innovator of noninvasive neurologic monitors, announced the closure of its Series B financing in which Kirby Cramer, former Chairman of SonoSite (NSDQ:SONO), Co-led along with a strategic investor from Series A. The company will use the proceeds to commercialize its noninvasive neurology/cardiology monitor through the FDA approval process. PhysioSonics named Kirby Cramer as Chairman of the Board replacing founder Robert Frederickson Ph.D. who maintains his seat on the Board.
- XDx Announces New $12.5 Million Multi-draw Term Loan Facility with GE Capital, Healthcare Financial Services
XDx Inc., a San Francisco-based molecular diagnostics company focused on non-invasive gene expression-based tests for the monitoring of organ transplant rejection and autoimmune diseases, announced that it has established a $12.5 million senior secured multi-draw term loan facility with GE Capital, Healthcare Financial Services. The financing provides the company with working capital to expand the commercialization of its FDA-cleared, innovative, non-invasive AlloMap molecular diagnostic test and pursue the development of other gene expression-based tests for autoimmune diseases, including lupus.