Covalon Technologies (TSXV:COV) announced today that it appointed Jason F. Gorel as its interim chief financial officer. Mississauga, Ontario-based Covalon said in a news release that Gorel will assume the role as the company undertakes the search for a new CFO to assist with the next phase of growth. Gorel has more than 20 years […]
Covalon Technologies
Covalon closes $6m private placement
Covalon Technologies (TSXV:COV.V) said yesterday that it closed a private placement worth nearly $6 million. Mississauga, Ontario-based Covalon initially priced the offering at about $6.3 million, but re-priced it to approximately $5.5 million earlier this month to reflect the market for its stock. The revised offering, of nearly 2.8 million units (one share and one warrant) […]
Covalon re-prices offering to $5.5m
Covalon Technologies (TSXV:COV.V) said last week that it has re-priced its original non-brokered, private placement of $6.3 million to $5.5 million to reflect the current market price of its common shares. The revised offering will now include nearly 2.8 million units at $2 per unit, instead of the initial offer of 2.5 million units at […]
Covalon Technologies completes AquaGuard acquisition integration
Covalon Technologies said today that it successfully completed its integration of Cenorin‘s AquaGuard division, which it acquired earlier this month. Covalon said that it closed the $12.4 million (CAD $16.1 million) acquisition of the AquaGuard business on October 1. The acquisition includes moisture protection for wound, surgical and vascular access sites, Ontario-based Covalon said. “The speed […]
Covalon Technologies closes $12m AquaGuard buy
Covalon Technologies said yesterday it closed its $12.4 million (CAD $16.1 million) acquisition of Cenorin’s AquaGuard division. Cenorin’s AquaGuard develops products intended to provide patients with moisture protection for wound, surgical and vascular access sites during showers, Ontario-based Covalon said. Covalon said that during its last fiscal year, the AquaGuard business recorded sales of $8.5 […]
Covalon to acquire Cenorin’s AquaGuard for $12m
Covalon Technologies said today it inked a definitive agreement to acquire Cenorin’s AquaGuard division in a deal worth approximately $12.4 million (CAD $16.1 million). AquaGuard develops products intended to provide patients with moisture protection for wound, surgical and vascular access sites during showers, Ontario-based Covalon said. Current AquaGuard CEO Gerry Arambula and existing leadership at the […]
Covalon inks $4m licensing agreement
Covalon Technologies said today it received $3.5 million as part of a new licensing agreement with an unnamed large global medical company. Through the agreement, the Ontario-based company said it is providing rights to its patented antimicrobial medical coating technology and some of its devices. The agreement also includes $5 million in additional license fees as […]
Covalon Tech lands $17m credit facility
Covalon Technologies said last week it inked a new $17 million banking credit facility with HSBC bank to help fund acquisitions and operations. The new banking agreement includes a $6.8 million (CAD $9 million) acquisition demand line which is repayable over five years, a $3.8 million (CAD $5 million) revolving operating facility and a $2 million […]
Covalon is on the prowl, posts Q2 earnings
Covalon Technologies yesterday announced it is on the hunt for potential acquisitions alongside second quarter earnings results. The Ontario-based company said it formed a special board committee looking to evaluate possible strategic alliances, partnerships and acquisitions as a response to a $100 million contract the company recently won. “The board believes that the capital markets […]
7 medtech stories we missed this week: Sept. 22, 2017
From the FDA’s clearance of Covalon’s film-drape to Bioventus launching its study, here are seven medtech stories we missed this week but thought were still worth mentioning. 1. FDA clears Covalon’s MediClear OTC surgical film-drape Covalon announced in a Sept. 21 press release that the FDA has cleared its MediClear PreOp to market in U.S. hospitals, […]
Covalon Tech plans $3m offering
Covalon Tech today announced an upcoming $2.6 million offering, with $1.8 million from a non-brokered private placement and $775,000 from the exercise of currently outstanding warrants. In the offering, the Mississauga, Canada-based company will offer approximately 931,121 units at $1.96 per share, looking to raise gross proceeds of $1.8 million. Each unit offered is comprised of 1 […]
