Invuity this month filed registration papers for an initial public offering that could bring in as much as $69 million for the advanced surgical lighting maker.
San Francisco-based Invuity said it plans to list on the NASDAQ exchange under the "IVTY" symbol.
Invuity makes more than 40 devices organized into 8 product lines, targeting surgeons in the orthopedics, spine, breast oncology, plastics and thyroid specialties.
"We intend to target other surgical specialties including trauma; cardiothoracic; ear, nose and throat; gynecology; urology; general surgery; neurosurgery and craniomaxilliofacial procedures," the company said in its registration filing.
The potential market in the U.S. alone for Invuity’s products is an estimated $2 billion, according to the filing. Invuity raised a $36 million Series E round in March 2014.
"We believe that improving a surgeon’s ability to see critical anatomical structures can lead to better clinical and aesthetic outcomes, improved patient safety and reduced surgical time and healthcare costs," Invuity said. "We are also using our Intelligent Photonics technology to develop new devices and modalities to broaden the application and adoption of open minimally invasive and minimal access procedures and enable new advanced surgical techniques."
Invuity said it sold lighting devices to about 350 hospitals during the 4th quarter last year, up from 150 during the same period in 2013. The company estimated that its devices have been used in some 74,000 procedures, based on the number of single-use units it’s shipped.