A Medical Device Daily
CardioNet (Conshohocken, Pennsylvania), a wireless medical technology company with an initial focus on the diagnosis and monitoring of cardiac arrhythmias, reported an underwritten public offering of 4,664,102 shares of common stock by some of its existing stockholders. The selling stockholders plan to grant to the underwriters an over-allotment option to buy 699,615 more shares.
CardioNet said it is not selling any shares in the offering and will not receive any of the proceeds.
Citi is the sole book-running manager, Banc of America Securities and Leerink Swann are the co-lead managers and Cowen and Co. and Thomas Weisel Partners are the co-managers for this offering.
CardioNet provides ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health.
In other financing activity:
• VisEn Medical (Chicago), a developer of fluorescence-based agents and system solutions intended to enable non-invasive in vivo imaging, said it has received $3.5 million in venture debt financing from GE Healthcare Financial Services. VisEn said it would use the credit facility to support its working capital needs and expand commercialization efforts worldwide.
• ICON (Dublin, Ireland), a provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, said that at its annual general meeting yesterday, all resolutions were passed. These included a proposal for a bonus issue of one new ordinary share to the holder of each existing ordinary share, the effect of which will be the equivalent of a two-for-one stock split.
Following the passing of this resolution, the issue of the new shares will be made to the holders of record on Aug. 8, the company said.