Eden Prairie, Minn., and Sydney-based medical device company Sunshine Heart (ASX:SHC) is looking to raise funds in a $25.5 million equity funding round, according to document filed with the SEC earlier this month.
Sunshine Heart reported that it had raised $1.5 million so far from 1 unnamed investor, as of May 8, 2013. The date of 1st sale was listed as January 15, 2013.
Last month the company announced that it had closed a public offering of nearly 2.9 million shares of its common stock, the net proceeds of which came to about $14 million. The company had said it planned to use the proceeds from the sale for "general corporate purposes," including its clinical trials and product development activities.
Sunshine Heart in August 2012 won FDA investigational device exemption approval for the C-Pulse blood pump, its stock jumping nearly 11% in 1 day. Investors had responded similarly to the company’s CE Mark approval in the European Union less than a month earlier, when shares grew 14% on the news.
SHC shares have had a tougher time since then. The stock’s prices dropped from about 5¢ per share on July 25, 2012, when the company announced its CE Mark win, to 4¢ on Aug. 6, 2012, when the company announced its conditional FDA win, to eventual suspension from the Australian Stock Exchange. SHC was removed from listing at the end of the day on April 29, 2013, when shares closed at 2¢ apiece.
Stryker and OrthoSensor extend knee deal
Orthopedics giant Stryker (NYSE:SYK), which recently told investors that it’s on the hunt for mergers and acquisitions, extended a a co-marketing agreement for its Triathlon Knee System in cooperation with OrthoSensor for its Verasense intelligent knee surgery instrumentation system. Read more
Dialysis: NxStage and DaVita pen new agreements
Massachusetts-based NxStage Medical (NSDQ:NXTM) signed new agreements to supply home, critical care and in-center hemodialysis products to the kidney-care division of DaVita Inc. (NYSE:DVA). Read more
NY’s Life Care Medical opens doors in Ireland
New York-based Life Care Medical Devices Ltd (OTCBB:LCMD) opened a European subsidiary in Dublin, Ireland, this month which will be responsible for all of the company’s European business.
Natus Medical scolded by Nasdaq
The Nasdaq Stock Market LLC earlier this month warned Natus Medical (NSDQ:BABY) for failure to report it’s 10-Q quarterly report for the 3 months ended March 31, 2013, which Natus had warned it would not be able to do within the 5-day grace period allowed beyond the report’s due date. Natus earlier this week filed the 10-Q and received notice that it had regained compliance with Nasdaq’s listing requirements.
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