SurgiVision Inc. plans to take itself public, selling $30 million worth of shares under the SRGV symbol on the NASDAQ stock exchange, according to a securities filing.
The Memphis, Tenn.-based company is developing MRI-guided, minimally invasive technology for brain and heart imaging.
SurgiVision filed for 510(k) clearance from the Food & Drug Administration for its ClearPoint neuro-intervention system, and is developing two other devices in collaboration with a pair of medical device giants, according to a filing with the federal Securities and Exchange Commission.
The company is collaborating with Boston Scientific Corp. (NYSE:BSX) and Siemens Healthcare (NYSE:SI), according to the filing. With Siemens, the company is working on the ClearTrace cardiac intervention system, aimed at the “catheter-based cardiac ablation to treat atrial fibrillation” market. With Boston Scientific it’s working on the SafeLead development program, targeting the “implantable cardiac and neuromodulation leads” market.
SurgiVision posted revenues of $1.9 million during the eight months ended August 31, according to securities documents, and reported revenues of $2.5 million for 2008. Net losses for the first eight months of 2009 were $4.3 million and $4.9 million during 2008.