A Medical Device Daily

Staar Surgical (Monrovia, California), a developer of implantable lenses and related ophthalmic products, reported the closing of an underwritten public offering of 3.6 million shares of its common stock, including the over-allotment option of 469,565 shares, at $5 a share. Gross proceeds of the offering were $18 million.

Net proceeds were about $16.7 million.

Pacific Growth Equities acted as the sole underwriter for this offering.

InforMedix Holdings (Rockville, Maryland) reported closing the first tranche of its private investment in a public entity (PIPE) financing on April 27.

Each $50,000 investment unit consisted of 500,000 shares of the company's common stock at 10 cents a share, and warrants to purchase 500,000 shares of common stock. The warrants have an exercise price of 15 cents a share and, subject to the terms therein, will be exchangeable for shares at any time, or from time-to-time, up to and including 5 p.m., EST, March 22, 2012. Closing on the second tranche of the transaction is expected to take place within the next month, the company said.

InforMedix said it will use the proceeds to expand sales of its Med-eMonitor System through regional and national channel partners into chronic disease management and consumer markets and general working capital purposes.

Med-eMonitor is a medication adherence solution for disease management and consumer products markets. The system consists of a portable patient-interactive "smart pillbox," hardware, software and staffed monitoring centers to monitor and manage patients' medication and plan adherence, clinical condition, and drug safety.

The company has developed the Med-eMonitor system for disease management and has integrated a portable patient-interactive monitoring device, hardware, software and networked communications system to enable disease management programs, chronically ill patients, and medical researchers to monitor patient medication and care compliance, clinical response and drug safety.

In other financing news: IASIS Healthcare (Franklin, Tennessee) said it completed a transaction with a syndicate of lenders led by Bank of America and Citigroup to refinance its existing credit facilities, increase borrowing and repurchase equity from the shareholders of its parent company, IASIS Healthcare Corp.

The new financing includes $854 million in senior secured credit facilities and $300 million in holdings senior paid-in-kind Loans.

The $854 million senior facilities include a senior secured term loan of $439 million; a senior secured delayed draw term loan of $150 million; a senior secured revolving credit facility of $225 million; and a senior secured synthetic letter of credit facility of $40 million. Proceeds from the senior secured term loan were used to refinance amounts outstanding under IASIS' existing credit facilities and to fund closing and other transaction costs. The company said it will use the funds received in connection with the delayed draw term loan to fund capital projects, including completion of Mountain Vista Medical Center (Mesa, Arizona) and general corporate purposes.