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Print Edition StoriesThursday, March 13, 2008
Newly named Salient Surgical seeks $86M in IPO
They same day it changed its name, Salient Surgical Technologies Inc. -- the company formerly known as Tissuelink Medical Inc. -- reported it intended to raise about $86 million trough an initial public offering.
The Dover, N.H.-based medical device company filed forms with the U.S. Securities and Exchange Commission yesterday to offer its common stock on the public markets.
According to Salient officials, Bear, Stearns & Co. Inc. and Piper Jaffray & Co. are the joint book-running managers and Wachovia Capital Markets LLC is co-manager for the proposed offering.
Salient Surgical makes devices to control bleeding during surgeries.
In July 2007, the privately held company closed a $20 million Series E round of venture capital, bringing the company's total funding to about $90 million.
Salient was co-founded as TissueLink in 1999 by then president and CEO M. Jacqueline Eastwood, who was named as a Mass High Tech All Star in 2003.
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