The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Kinetic Concepts executed an under-the-radar buyout of skin graft developer MoMelan Technologies, according to Xconomy.com, citing an anonymous investor in MoMelan.
The acquisition, to which the investor declined to assign a value, is "a good outcome for everybody – founders, investors, employees,” according to the unnamed source.
Transcend Medical Inc. closed a second tranche of its series B financing round, bringing its total take to $51 million.
The Menlo Park, Calif.-based company develops ophthalmic devices for minimally invasive glaucoma therapies, and plans to use the newly raised funds for development of additional infrastructure and resources for a U.S. study of its CyPass micro-stent technology, as well as for development of next-generation glaucoma therapies.
Quintiles is resuming its plans to raise more than $2 billion in bank financing.
The Durham, N.C.-based, contract research organization is planning to enter into a new $2.2 billion credit facility, with proceeds from the borrowed funding being used to refinance $1.7 billion in existing debt, including an offer to buy $525 million of 9.5 percent outstanding senior notes that are due in 2014.
MASSDEVICE ON CALL — The Mass. Life Sciences Center, a quasi-public agency that oversees state dollars allocated toward increasing the life sciences industry’s footprint in the Bay State, doled out another $3.8 million in “accelerator” loans.
The program is designed to provide a boost to early-stage life science companies that the center’s scientific advisory board deems to have a high potential for commercialization, rapid growth and the ability to raise substantial capital.
