Transoma launches $75m IPO:
This article was originally published in Clinica
Implantable wireless diagnostics specialist Transoma Medical is aiming to raise $75m through flotation on the Nasdaq Stock Exchange. The St Paul, Minnesota-based firm aims to channel the proceeds from the IPO towards development of its technology for monitoring chronic cardiovascular disease (CVD) and its Sleuth implantable ECG monitoring system for patient management. Transoma is targeting the CVD market and is hoping to use some of the proceeds on acquisitions of businesses, technologies and products. According to Transoma, CVD has a total annual treatment cost of $280bn in the US. The company will list under the ticker symbol "TSMA".