A Medical Device Daily

Langer (Deer Park, New York) reported that it has priced its previously disclosed public offering of 5 million shares of common stock at $6.50 a share, thus raising net proceeds of more than $32 million.

The company said it will use the proceeds of the offering to repay debt incurred in connection with its $15.5 million deal to purchase Silipos (Niagara Falls, New York) in September, 2004 (Medical Device Daily, Sept. 23, 2004), to fund working capital and for other general corporate purposes, including potential acquisitions.

The underwriters have been granted an option for a period of 30 days to purchase up to another 750,000 shares of common stock to cover any over-allotments.

Langer manufactures and distributes medical products targeting the orthopedic, orthotic and prosthetic markets and a diverse line of skincare products for the medical, therapeutic and retail markets.

Piper Jaffray & Co. is lead managing underwriter of the offering. Ryan Beck & Co. and Wm. Smith Securities are co-managers.

Silipos is a manufacturer of gel-based products focused on the orthopedic, prosthetic and skincare markets.

Langer is a provider of medical products targeting the orthopedic, orthotic and prosthetic markets. In addition, the company offers skincare products for the medical and therapeutic markets.

The company sells its products primarily in the U.S. and Canada, plus more than 30 other countries to national, regional, international and independent medical distributors and directly to healthcare professionals.

Langer has additional manufacturing facilities in Niagara Falls, New York; Anaheim, California; Montreal; and Stoke-on-Trent, UK; plus sales and marketing offices in Ontario and New York.

In other financing activity:

• Serologicals (Atlanta) reported that its board has authorized a program to repurchase up to 2 million shares of the company’s common stock over the next three years, ending in June 2008. As of June 9, the company reported having about 35 million shares of common shares outstanding.

“We believe that our stock is considerably undervalued at current levels and that the purchase of our shares at current market prices represents a highly attractive investment opportunity,” said David Dodd, president and CEO. He said the funds for the repurchasing program will come primarily from cash generated from operations or “funds on hand.”

Serologicals is a provider of consumable biological products, enabling technologies and services in support of biological research, drug discovery and bioprocessing. It also bills itself as the leading provider of monoclonal antibodies for the blood typing industry.

• WellCare Health Plans (Tampa, Florida) reported that it has filed a registration statement with the Securities and Exchange Commission for a secondary public offering of 6.5 shares of its stock by certain selling stockholders.

The lead underwriter of the proposed offering is Morgan Stanley and the co-managers are SG Cowen & Co., UBS Investment Bank and Wachovia Securities. One of the selling stockholders expects to grant the underwriters an option to purchase up to 975,000 additional shares to cover over-allotments, if any. The company will not receive proceeds from the offering.

WellCare Health Plans provides managed care services targeted exclusively to government-sponsored healthcare programs, focusing on Medicaid and Medicare.