ATS to gain $13 million from shares sale:
This article was originally published in Clinica
Executive Summary
ATS Medical is to sell approximately 3.7 million shares of common stock at $3.55 per share to certain institutional investors. The sale is expected to earn Minneapolis, Minnesota-based ATS $13.1m. The developer of heart valves and cardiovascular instruments plans to use the proceeds for general working capital purposes and to finance the manufacturing of its ATS open pivot valve, which, according to the company, has been implanted in over 85,000 patients. Some of the funds will also be used for the introduction of the PARSUS blood filtration technology for which ATS recently acquired worldwide rights from Swedish firm ErySave (see Clinica No 1106, p 24).
You may also be interested in...
Philips Portfolio Includes ‘No Single Product That Does Not Use A Type Of AI,’ Says CEO And AI Thought Leader Roy Jakobs
Philips CEO Roy Jakobs talks to Medtech Insight about the medtech firm’s decade-long history of embedding AI into its products and what he expects from the newly released draft framework by the National Academy of Medicine, which he helped develop as co-chair of the Steering Committee.
MoCRA Stakeholders Reminded Registration Enforcement Begins 1 July: ‘Do Not Delay!’
The Independent Beauty Association urged stakeholders at its Cosmetic Convergence Symposium to take action to ensure they are meeting requirements of the Modernization of Cosmetics Regulation Act come 1 July, when FDA’s enforcement of the facility and product registration deadline begins. Presenters offered tips from companies that have already completed the process.
Boehringer Ingelheim Overtakes Bayer As Germany’s Biggest Pharma Company
The privately owned company is searching for a successor to Jardiance, while the outcome of US Inflation Reduction Act talks on price cuts to the blockbuster will be revealed in September.