A Medical Device Daily

Accuro Healthcare Solutions (AHS; Dallas) has filed a registration statement with the SEC relating to a proposed IPO of its common stock for up to $143.75 million in proceeds, though the number of shares to be offered and the price range for the offering has not yet been determined.

AHS is a provider of internet-based solutions to a range of healthcare providers, including hospitals and ancillary healthcare providers, which are designed to enable them to more effectively manage the complexities of the patient registration, billing, collection and reimbursement process.

The company said it plans to use a portion of the net proceeds of this offering to repay a portion of the outstanding indebtedness under its credit facility, which matures on July 16, 2013.

On July 16, the company said it incurred $100 million of indebtedness under its credit facility, the proceeds of which were used to refinance existing indebtedness, to pay cash dividends of $52.6 million, to pay bonuses of $1.9 million and for working capital and other general corporate purposes.

The company said it anticipates that it will use the remainder of the net proceeds from the offering for working capital and other general corporate purposes, including the funding of our marketing activities and further investment in the development of its solutions. It may also use a portion of the net proceeds for the acquisition of businesses, products and technologies that it believes are complementary to its own.

The company reported that for the years ended Dec. 31, 2004, 2005 and 2006, it had a net loss of $1 million, $1 million and $5 million, respectively. The company also had a loss from operations of $1.4 million for the year ended Dec. 31, 2005.

Citi is acting as sole book-running manager for the offering, and Citi and Piper Jaffray are acting as joint lead managers for the offering. William Blair & Co. and Jefferies & Co. are acting as co-managers for the offering.

BG Medicine (Waltham, Massachusetts), a medical diagnostics company, reported that it has decided not to proceed with its previously disclosed IPO based, it said, on “current market conditions.” The company has withdrawn its registration statement that it filed with the SEC back in December (Medical Device Daily, Dec. 4, 2007).

BG Medicine is a life sciences company focused on the development of molecular diagnostics based on biomarkers to improve patient outcomes and contain healthcare costs. It provides drug research and development services to global pharmaceutical makers, U.S. government agencies, and to the healthcare product divisions of companies.

It specializes in using biomarkers, substances used to detect disease at a molecular level, to enable research into the causes of disease and the effectiveness of drugs used to treat them. In addition to performing R&D for its customers and partners, the company intends to develop its own drugs. Products in the planning and discovery stages include treatments for heart disease and cancer among others.

In August, the company filed for an IPO of up to $80 million in stock on the Amsterdam exchange of NYSE Euronext under the symbol BGMDX.

In other financing news:

• RadNet (Los Angeles), a provider of diagnostic imaging services through a network of fully-owned and operated outpatient imaging centers, reported that GE Healthcare Financial Services has agreed to arrange for RadNet an addition to its existing credit facilities of up to $110 million. The incremental facility will consist of $60 million as part of its second lien term loan and $50 million, which will be available for the company to draw-down in the future, of either additional term loans or additional capacity under its current revolving line of credit. The additions to RadNet’s existing credit facilities are intended to provide liquidity and working capital for near-term opportunities and future expansion.

• Calypte Biomedical (Portland, Oregon), a developer of HIV diagnostic tests, said it has entered into an $8 million common stock purchase agreement with Fusion Capital Fund II, a Chicago-based institutional investor.

The company may sell up to $8 million of its common stock to Fusion Capital from time to time over a 24-month period after the SEC has declared the registration statement effective

The proceeds will be used to further the commercialization of the company’s Aware HIV-1/2 Rapid diagnostic tests, develop new diagnostic tests and for general corporate purposes, it said.

The company has the right to sell shares of common stock to Fusion Capital from time to time in amounts between $100,000 and $1 million, depending on certain conditions, for up to $8 million of total funds. The purchase price of the shares will be based on the prevailing market prices of the company’s shares at the time of sale without any fixed discount, and the company will control the timing and amount of any sales of shares to Fusion Capital.

• Bracco AMT (New York), the U.S. parent of Acist Medical Systems (Minneapolis), a developer of automated, variable-rate injection systems for contrast delivery in cardiovascular angiography, reported an investment in minimally invasive heart valve technology currently being developed by Heart Leaflet Technologies (HLT; Osseo, Minnesota), a privately held company.

The transaction terms assume that Bracco AMT will make a roughly $11.2 million aggregate equity investment in HLT and acquire the right to purchase at a future date all of the outstanding shares of HLT common stock and other HLT equity securities and rights from HLT’s equity and right holders based on an agreed-upon valuation.

The investment signifies Bracco AMT’s commitment to fostering long-term growth through early investments in complementary medical device products and procedures, while it continues to invest extensively in research and development of its existing product lines.

HLT is focused on developing technology for percutaneous aortic valve replacement (PAVR) procedures. PAVR technology is designed to allow some patients, who may not be candidates for open-heart valve replacement surgery, to obtain a life-saving valve. PAVR devices may be implanted via access through the femoral artery which is considered to be a minimally invasive procedure versus open-heart valve surgery. The HLT valve is being designed with the goals of simplifying and improving the safety of the implant process.