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.
The company also filed for 510(k) clearance for a pair of products, a surgical drape and a head fixation device.
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.