A Medical Device Daily
Unilife (York, Pennsylvania) said that its COO, Ramin Mojdeh, will purchase more than $250,000 in shares of the company's common stock. This investment closely follows Mojdeh's initial open market purchase of more than $250,000 in Unilife shares in March, six weeks after he joined the company.
Mojdeh will begin making the purchase at market prices after the issuance of this news in the U.S. This intended purchase by Mojdeh of more than $250,000 in Unilife common stock is occurring as per the company's insider trading policy and will be effected in compliance with applicable U.S. and Australian securities laws.
The upcoming purchase by Mojdeh follows similar activity recently undertaken by Unilife CEO Alan Shortall, as reported on Aug. 17, the company noted.
“Since joining Unilife nearly seven months ago, my confidence in the company's future continues to grow,“ Mojdeh said. “Under Mr. Shortall's guidance and keen leadership, we have been able to accomplish several important milestones including the industrialization and first sales of the Unifill syringe. Through our unparalleled capacity to identify and respond to the unmet needs of our pharmaceutical partners with speed, agility and reliability, we have developed an innovative and highly differentiated portfolio of advanced drug delivery systems.“
In other financings:
Media outlets are reporting that GI Dynamics
(Lexington, Massachusetts) has hit its lower benchmark by raising $86 million in its initial public offering.
According to a report from Mass Device, the firm had hoped for between $86 million and $102 million through sales of some 72.7 million chess depository interests at a price of A$1.10 per CDIs, a type of security used by the Australian Stock Exchange to allow international companies to trade on the local market.
The company also opened another 13.6 million shares through an oversubscription of the offering.
• OrbiMed (New York) reported the final closing of a new fund that acquires healthcare royalty streams and provides structured debt capital to healthcare companies.
The fund, the “Royalty Opportunities S.àr.l.“, is domiciled in Luxembourg and will invest worldwide to take advantage of OrbiMed's global platform. Investors in the $600 million fund include some of the largest endowments, foundations and financial institutions globally.
• GE Healthcare Financial Services (Bethesda, Maryland) has closed, as administrative agent, $115 million in senior secured credit facilities for Evolution1 (formerly Evolution Benefits), a portfolio company of Genstar Capital. The financing was used to recapitalize Genstar's acquisition of Evolution Benefits and support the company's acquisition of Lighthouse. GE Capital Markets served as sole lead arranger and joint bookrunner.
Evolution1 and its partners serve more than 7 million consumers, making it the nation's largest electronic payment, on-premise and cloud computing healthcare solution that administers reimbursement accounts, including HSAs, HRAs, FSAs, VEBAs, Wellness and Transit Plans.