Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Home Diagnostics, Inc. goes public: Blood glucose monitor firm goes public Sept. 20 via a $79 mil. offering of about 6.6 mil. common stock shares at $12 each. The Fort Lauderdale, Fla., firm will use the proceeds to buy manufacturing equipment, repay debt and redeem preferred stock. R&D projects include low-cost biosensors, on-strip coding technology and wireless connectivity enhancements. Current offerings, based on both photometric and biosensor technology, include the firm's SideKick disposable blood glucose testing system and the Prestige IQ, TrueTrack Smart and TrackEase Smart advanced systems. HDI, which generated 2005 sales of $100 mil. (up 18% for the year) and is profitable, competes with larger firms including Johnson & Johnson, Roche, Abbott, Bayer and BD, primarily by offering low-cost systems using comparable technology. The company trades under the Nasdaq symbol "HDIX"...