Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
CardioNet raises $110 mil. for wireless monitoring: Wireless outpatient cardiac arrhythmia monitoring product and service provider raises $110 million in a private placement, completed March 26. The funding follows San Diego-based CardioNet's acquisition of West Palm Beach-based heart monitoring service provider PDS Heart on March 12 for undisclosed terms. The purchase of PDS Heart makes CardioNet the largest U.S. provider of "wireless, remote outpatient cardiac monitoring, event Holter and pacer services," the firm says. Privately held CardioNet has raised nearly $200 million in private debt and equity over the past seven years. CardioNet gained 510(k) clearance in 2002 for its core technology for continuous outpatient monitoring to detect infrequent cardiac arrhythmias (1"The Gray Sheet" May 27, 2002, In Brief)...
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