Deals this week: Stryker, ViewRay, Episurf Medical

2 March 2018 (Last Updated March 2nd, 2018 12:34)

Stryker Corp has announced plans to raise $600m through a public offering of senior unsecured notes.

Stryker Corp has announced plans to raise $600m through a public offering of senior unsecured notes.

Due in March, the notes carry an interest rate of 3.65% a year.

Stryker previously announced plans to raise $600 through a public offering of notes due in 2028.

The company plans to use the proceeds to repay $600m of its outstanding 1.3% notes due 2018.

Based in the US, Stryker Corp is involved in the development of medical devices and medical equipment.

US-based ViewRay Inc plans to raise $59.1m through the private placement of 7.09 million shares of its common stock and warrants to purchase 1.41 million shares of its common stock priced at $8.31 a share.

Fosun International Ltd, a Chinese investment company, will subscribe to the placement.

The transaction will increase Fosun’s stake in ViewRay from 9.9% to 18.4%.

ViewRay plans to use the proceeds to commercialise its MRIdian Linac radiation treatment system, for research and development, as well as general corporate needs.

Episurf Medical AB plans to raise SEK70m ($8.61m) through the private placement of convertible notes and warrants in several tranches spread over 36 months.

European Select Growth Opportunities Fund subscribed to the placement.

The first tranche will include the issuance of notes with warrants to raise SEK7m ($0.86m).

Based in Sweden, Episurf Medical AB is a medical technology company specialised in the manufacture of orthopaedic implants and surgical instruments.

Boston Scientific Corp plans to raise $1bn through a public offering of 4% senior notes due 2028.

The company plans to use funds for general corporate purposes, the redemption of outstanding debt securities, working capital, business acquisitions, and other investments.

“The US-based surgical robotics company plans to use the funds towards global commercialisation of its Aquablation therapy.”

Based in the US, Boston Scientific is a developer, manufacturer, and marketer of medical devices.

Procept BioRobotics has raised $118m through an equity financing round led by Viking Global Investors LP and Perceptive Advisors, with participation from existing investors.

The US-based surgical robotics company plans to use the funds towards global commercialisation of its Aquablation therapy for the treatment of benign prostatic hyperplasia (BPH).

InspireMD Inc plans to offer shares of its common stock through an underwritten public offering.

The underwriters will be granted an option to purchase additional shares of common stock within 30 days of the offer closure.

The Israeli medical device company plans to use the funds to redeem the outstanding shares of its series D preferred stock, for research and development and for general corporate purposes.

CIVCO Medical Solutions (CIVCO) has entered a strategic partnership with Stratpharma AG to provide wound care products for radiation therapy patients.

The company will become the exclusive US distributor for Stratpharma’s innovative wound dressing product, StrataXRT.

Based in the US, CIVCO is a patient-centric radiotherapy solutions provider, while Stratpharma AG is a Switzerland-based company involved in the development of innovative topical medical products.

Diversified industrial company NN Inc has acquired the assets of medical device company Bridgemedica LLC.

The transaction will enhance the company’s product design and development capabilities.

Both the companies involved in the transaction are based in the US.

BGN Technologies has collaborated with Biosensorix to develop next-generation diagnostics for point-of-care.

The two companies will use the research carried out by the Ben-Gurion University (BGU), which resulted in the development of an electrochemical lateral flow immunosensor that can carry out a diagnosis of diseases.

Based in Israel, BGN is a technology transfer company of Ben-Gurion University, while Biosensorix is a medical diagnostics company based in Singapore.