Salient Surgical eyes $86m with IPO
This article was originally published in Clinica
Salient Surgical Technologies, the surgical products specialist formerly known as TissueLink Medical, is aiming to raise $86m through an IPO on the Nasdaq Stock Exchange. The Dover, New Hampshire-based company said that it will use the proceeds from the offering to fund expansion in sales and marketing, develop new products and repay outstanding debt. Salient Surgical is currently developing the Aquamantys system, which is designed to seal blood vessels in soft tissue and bone, in order to reduce blood loss during surgery and lower the risks associated with blood transfusion. The company is focused on orthopaedic hip and knee reconstruction procedures (of which there were 1.2 million in 2007 in the US alone, according to Medtech Insight), as well as multi-level spinal fusions (a further 135,000 procedures). The company will trade under the ticker symbol "SLNT".