RF ablation firm Rita Medical raises $12m:
This article was originally published in Clinica
Mountain View, California-based Rita Medical has raised $12m in a private placement of new shares and warrants. The Nasdaq-listed firm says the $11m net proceeds will fund working capital and be used for general corporate purposes. The company completed a merger with Horizon Medical Products in July, extending its radiofrequency ablation technology focus to vascular access products. In the third quarter ended September 30, sales were $8m and the enlarged group reported a net loss of $3.3m.
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