The U.S. Securities & Exchange Commission charged a PricewaterhouseCoopers auditor for failing to detect the millions siphoned from the namesake venture capital fund of once-renowned biotech investor Stephen Burrill. Adrian Beamish, a PricewaterhouseCoopers audit partner who served as engagement partner for the Burrill Life Sciences Capital Fund III, allegedly failed to scrutinize the “advanced management fees” withdrawn from the […]
Bigfoot Biomedical said yesterday that it raised $35.5 million in a Series A round for the artificial pancreas technology it’s developing to treat Type I diabetes. The round, led by Quadrant Capital Advisors, included backing from Cormorant Asset Management, Senvest Capital, and Visionnaire Ventures. Bigfoot said it plans to use the proceeds to fund the final development of […]
Trumpf said yesterday it launched a venture capital investment arm looking to fund tech startups, with official operations having opened July 1. Get the full story at our sister site, Medical Design & Outsourcing.
Private equity player Vance Street Capital said it invested an unspecified amount in Motion Dynamics Corp. and its wire-based components business. Los Angeles-based Vance Street said Motion Dynamics is the 2nd investment out of its 2nd fund, reportedly targeted at $350 million. Get the full story at our sister site, Medical Design & Outsourcing.
HMicro said today that “dominant strategic OEM partners” joined a $10.2 million Series C round for the biosensor platform it’s developing for commercialization. Get the whole story on our sister site, Medical Design & Outsourcing.
Private equity player Genstar Capital is reportedly shopping Tecomet to potential buyers for more than $1 billion. Genstar tapped investment bank William Blair & Co. to auction Tecomet, according to Reuters, which cited “people familiar with the matter.” Genstar, Tecomet and William Blair declined to comment. Wilmington, Mass.-based Tecomet, founded in 1963, is a contract manufacturer […]
ViewRay (NSDQ:VRAY) said today that it raised nearly $14 million in a private placement as it gears up to launch its MRIdian linear accelerator, saying it expects to win regulatory nods in the U.S. and overseas by the end of the year. Cleveland-based ViewRay said the round was led by existing backers OrbiMed Advisors, Xeraya Capital and Kearny Venture […]
Rotation Medical said today that it added $12 million to a Series B round that’s already brought in $27 million. Plymouth, Minn.-based Rotation makes a regenerative treatment for repairing the shoulder’s rotator cuff – a group of muscles and tendons that attach the humerus to the scapula. The system won 510(k) clearance in March 2014. The company said existing […]
UPDATED August 10, 2016, with information on the pricing and closing date for the offering. A pair of private equity players are readying an offering of Zimmer Biomet (NYSE:ZBH) shares that could be worth nearly $1 billion. Warsaw, Ind.-based Zimmer Biomet said KKR and TPG Capital are planning to sell more than 7.4 million ZBH shares at […]
RoundTable Healthcare Partners said this week that it closed the $140.3 million buyout of Symmetry Surgical, the legacy business formed after Symmetry Medical sold its orthopedics OEM operation to Tecomet in 2014. Nashville-based Symmetry Surgical makes reusable, reposable and single-use surgical instrumentation and specialty devices. The Lake Forest, Ill.-based private equity shop said it plans to leave president & CEO […]
Earlens said today that it raised a funding round worth $51 million for the light-driven hearing aid it developed, pulling down $34 million in cash and another $17 million in a bridge financing conversion. The Earlens device, which last October won 510(k) clearance from the FDA, uses a laser diode attached to a behind-the-ear audio processor to […]