A Medical Device Daily

Endologix (Irvine, California) reported that it has entered into an agreement to sell 3,900,000 shares of its common stock in an underwritten public offering at a price to the public of $4.10 a share. The gross proceeds to Endologix, before offering expenses, from the sale of shares are expected to be $15,990,000. The closing of the offering is expected to take place on Aug. 4. Piper Jaffray & Co (Minneapolis) will be the sole manager for the offering.

The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission on May 8 that became effective on June 1. A prospectus supplement relating to the offering will be filed with the SEC.

Endologix develops minimally invasive treatments for aortic disorders.

In other financings, GE Capital, Healthcare Financial Services (Chicago) said it was administrative agent on a $25 million revolving line of credit for AccessOne MedCard, (Charlotte, North Carolina). The loan will be used to refinance existing debt and to support growth initiatives. GE Capital Markets served as sole lead arranger and sole bookrunner.

AccessOne provides alternative programs designed to allow hospitals to more efficiently serve their self-pay patient consumers. This is accomplished by creating a private label, low interest medical credit card for individual hospital clients, the AccessOne MedCard. The program also includes a 12-month interest free and hardship option. The program is offered to all patients without credit scoring or credit reporting, the company said.