Financings in Brief: Medical Technology and Innovations
This article was originally published in The Gray Sheet
Executive Summary
Medical Technology and Innovations: Completes $7 mil. private placement, funds from which will enable finalization of MTI's planned acquisition of Steridyne, a Riviera Beach, Florida-based manufacturer of thermometers, thermometer sheaths, probe covers, and infection and bed sore control products. Steridyne had fiscal 1995 (ended Sept. 30) revenues of $3.3 mil. MTI says it plans to use a portion of the proceeds to expand marketing of its MTI PhotoScreener -- a "hand-held instant imaging device" used to "screen preverbal children for vision disorders"...