A Medical Device Daily

Sequenom (San Diego) reported commitments by ComVest Investment Partners II, Pequot Private Equity Fund IV and L BI Group for $30 million.

Subject to shareholder approval and other closing conditions, the company will issue investors 54.55 million shares of common stock as well as 32.73 million common stock purchase warrants exercisable at 70 cents per share.

The transaction is expected to close by May 31, with net proceeds from the transaction to be used for general working capital needs.

Sequenom makes progenetic analysis products for noninvasive prenatal testing, biomedical research, molecular medicine and agricultural applications.

Aptus Endosystems (Sunnyvale, California), a company developing products for the treatment of endovascular aneurysm repair, said it has raised $19.5 million in Series B financing. This latest round was led by Prism Venture Partners and joined by Baird Venture Partners, both new investors. Existing investors U.S. Venture Partners and Pequot Ventures also participated in this round.

Aptus said it will use the proceeds to support continuing development activities, initiate the U.S. clinical trial program, STAPLE-1, for its abdominal aortic aneurysm product and build its operations infrastructure.

Founded in 2002, Aptus has developed an endograft system delivered via standard catheter technology. The company said the technology provides surgeons with the confidence and control of an open surgical repair with the minimally invasive approach of an endovascular procedure.

In other financing activity:

• Sharps Compliance (Houston), providers of medical waste disposal solutions, reported the execution of a $1.5 million credit agreement with JPMorgan Chase Bank. The agreement provides for a revolving line of credit for $1.5 million.

The company said the proceeds may be used for working capital, letters of credit, acquisitions and general corporate purposes.

The company said that the line of credit replaces an accounts receivable purchase agreement with Silicon Valley Bank.

• Nationwide Health Properties (NHP; Newport Beach, California), a healthcare real estate investment trust, reported its plans to make a public offering of about 9 million shares of its common stock.

Of those shares, a portion are being offered directly by NHP and the remaining shares are being offered in connection with forward sale agreements between NHP and certain affiliates of the underwriters as described below. The company also granted the underwriters of the common stock offering an option to purchase another 1.35 million shares of additional stock to cover over-allotments.

NHP said it will use the proceeds from the sale of the newly issued shares to fund a portion of its acquisition and master leaseback of the real estate holdings of Hearthstone Assisted Living (Houston). In addition, NHP will enter into forward sale agreements with affiliates of JP Morgan Securities and UBS Securities. The forward purchasers will borrow and sell to the underwriters shares of NHP's common stock. The forward sale agreements provide for physical or cash settlement at the public offering price at the time of this offering within about one year of the offering.

NHP said it expects to settle the forward sale agreements and use the proceeds to fund a portion of the $419 million Hearthstone acquisition, which was first disclosed earlier this month (Medical Device Daily, March, 24, 2006).