A previously announced offering of $650 million worth of 0.0% convertible senior notes due Aug. 15, 2023, has been priced by Illumina, with principal notes of $1,000 to be converted into around 2.18 common shares, which is equivalent to the $457.77 conversion price. The company intends to use net proceeds of approximately $637 million for repurchasing common stock, as well as for general corporate purposes.
A public offering of 1.5 million shares of common stock has been priced by Minnesota-based IntriCon at $55 each in hopes of raising around $82.5 million. The company, which will also offer a 30-day option for underwriters to buy 225,000 more shares, intends to use net proceeds of about $77.3 million for working capital, debt repayment, capital expenditures, share repurchasing and retirement, and general corporate purposes.
A private placement of around 3.2 million shares of common stock has brought in approximately $5 million in gross proceeds for Second Sight. The money will be used to conduct a feasibility study and other data collection for the company's Orion cortical visual prosthesis system, as well as for advanced artificial vision research and further development of the Argus 2s next-generation devices.
Genetic Technologies, an Australian molecular diagnostics company, has entered a partnership with Beijing Zishan Health Consultancy to discuss a possible joint venture that would bring the company's genomic tests to China. The partners, which did not disclose additional terms of the deal, will also consider establishing a genetic testing facility in China.
Dale Wolf has been tapped to serve as vice president of manufacturing at NuVasive. Wolf was most recently executive of shop operations for Florence, S.C., at GE Healthcare, where he served for two decades.
The CMS has granted Finland-based orthopedic device maker Bone Index coverage under Medicare and Medicaid for the use of its Bindex point-of-care osteoporosis measurement device in outpatient and ambulatory surgical practices. The tool measures the tibia's cortical bone thickness and calculates an estimate of bone mineral density at the hip.
Viveve has started a trial of its cryogen-cooled monopolar radiofrequency technology intended for treatment of stress urinary incontinence in women. The study, which will include up to 10 sites across Canada, will randomize 100 patients using a 2-to-1 ratio for experimental or sham treatment.
SPR Therapeutics secured clearance from the FDA for its SPRINT endura (single lead) and extensa (dual lead) Peripheral Nerve Stimulation systems for pain management. The platforms, which are indicated for use in the extremities or the back for up to 60 days to treat acute and chronic pain, enable two leads attached to a wearable pulse generator to be implanted by physicians during an outpatient procedure.
The FDA announced three initiatives as part of an effort to advance the development and safety of medical devices related to the current user fee reauthorization. The initiatives comprise releasing draft guidance on issuing certificates for devices exported from the US, establishing a summary reporting program to streamline device malfunction reporting and proposing a list of device accessories suitable for reclassification to Class I category.
The FDA has given CoreLink Surgical 510(k) clearance for its Foundation 3D anterior lumbar interbody fusion device, which features the company's Mimetic Metal technology and patent-pending StrutSure technology.
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