A Diagnostics & Imaging Week

Zonare Medical Systems(Mountain View, California), a developer of ultrasound technology, said the company is closing additional equity funding, representing about $15 million.

The Series G financing was led by existing investors Frazier Healthcare, 3i, Mosaix Ventures and CB Health Ventures. Other investors in this round included Draper Fisher Jurvetson, Ascension Health Ventures, Kaiser Permanente Ventures and several other existing investors.

Zonare makes compact sonography devices.

Del Global Technologies (Franklin Park, Illinois) reported completing its rights offering launched Feb. 7, selling 12,027,378 shares of its common stock, representing 100% of the shares offered, at $1.05 a share through the exercise of both basic and over-subscription privileges.

Proceeds were $12,628,746.90. In total, about 68% of the rights, representing 8,137,123 shares of the company’s common stock, were subscribed for as a result of the basic subscription privilege; the remaining 3,890,255 shares were sold to shareholders exercising their oversubscription privileges. The total shares of the company’s common stock outstanding is now 24,054,756.

Del Global manufactures high performance diagnostic imaging systems for medical, dental and veterinary applications through the Del Medical Systems Group.

In other financing activity:

• Implant Sciences (Wakefield, Massachusetts), a developer of products for national security, semiconductor and medical industries, reported what it called its “understanding” that CorNova (Burlington, Massachusetts), a privately held company focused on the development and marketing of endovascular diagnostics and treatments, has sold about 75,000 shares of Implant’s common stock over the past two days through its broker.

In March 2004 and February 2005, CorNova acquired about 87,000 shares of Implant’s common stock in connection with the capitalization of CorNova in March 2004 and the successful completion of a financing by CorNova in February 2005. Implant said it understands that the liquidation of Implant’s common stock by CorNova is to provide funding for CorNova’s working capital.

While CorNova continues to hold about 12,000 shares of Implant’s common stock, Implant said it believes the disposition of those remaining shares is “imminent.”

• Quidel (San Diego), a provider of point-of-care rapid diagnostic tests, said its board of directors has authorized the company to repurchase up to an additional $25 million in shares of its common stock. This is in addition to the remaining amounts authorized under the company’s May 2005 $25 million repurchase program.

This increased authorization also extends Quidel’s share repurchase program to March 9, 2009. Shares of the company’s common stock may be repurchased from time to time in both privately negotiated and open market transactions, subject to management’s evaluation of market conditions, applicable legal requirements and other factors.

• HealthSouth (Birmingham, Alabama) said it has amended its existing senior secured credit facilities to lower the applicable interest rates and modify certain other covenants. Amended interest rates on the Term Loan B are LIBOR plus 2.5%. The applicable rate on the Tranche A letter of credit facility is also reduced to 2.5%. The interest rates on the outstanding revolving credit facility remain the same. The amendment also gives the company the appropriate approvals for its divestiture activities.

HealthSouth’s CFO, John Workman, said the step will save the company about $16 million a year in interest and fees.

• Laboratory Corporation of America Holdings (LabCorp; Burlington, North Carolina) said its board has authorized a new stock repurchase program to buy up to an aggregate of $500 million of its common stock .

LabCorp develops diagnostic technologies.