A Medical Device Daily
Healthcare Realty Trust (HRT; Nashville, Tennessee) reported the pricing of its underwritten public offering of 7 million newly issued shares of common stock at a price of $25.50 a share. As part of the offering, the company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares to cover any over-allotments.
The net proceeds of the offering, after underwriting discounts and commissions and before giving effect to the over-allotment option, if exercised, will be about $170.5 million.
The company said it intends to use the net proceeds from this offering to invest in recently closed and anticipated acquisitions of medical office, other outpatient-related facilities and for general corporate purposes. The closing of the transaction is subject to customary closing conditions and is expected to occur on or about Sept. 29.
Wachovia Securities, J.P. Morgan, Banc of America Securities and UBS Investment Bank are joint book-running managers for the offering.
HRT is a real estate investment trust that integrates owning, managing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the U.S.
Zynex (Littleton, Colorado), a provider of pain management systems and electrotherapy products for medical patients with functional disability, reported that it has entered into a loan and security agreement with Marquette Healthcare Finance.
The loan agreement provides Zynex with a revolving credit facility of up to $3 million. The loan is secured by a first-priority security interest in all of Zynex's assets. The term of the credit facility is three years.
"This line of credit allows us to continue our growth efforts," said CEO Thomas Sandgaard. "We believe it is a strong signal to the market that we do not have current plans to raise capital by offering additional stock. We further believe that we are equipped for having our stock traded on the American Stock Exchange."
Zynex develops electrotherapy medical devices in two distinct markets: standard digital electrotherapy products for pain relief and pain management; and the NeuroMove for stroke and spinal cord injury rehabilitation.