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Print Edition StoriesTuesday, December 30, 2008
Salient Surgical moves into new Portsmouth digs
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Medical device firm Salient Surgical Technologies Inc. reports that it has completed the move into its new corporate headquarters in Portsmouth, N.H., at the Pease International Tradeport. The company was previously based in Dover, N.H., and now occupies a 56,658 square foot facility.
According to Joseph F. Army, Salient’s president and CEO, the new site, which includes a specially equipped training facility and a pilot line, will allow the company to continue to grow and make investments in new product development.
In October, Salient Surgical completed a $17.9 million Series F financing round, from Piper Jaffray, Medtronic Inc., Arnerich Massena & Associates and RiverVest Venture Partners. The funding was geared toward supporting Salient’s marketing and sales efforts, as well as its working capital, Salient officials said. It also helped further development of the company’s Transcollation tissue treatment technology for surgeons.
In August, Salient announced its withdrawal of registration for an initial public offering, originally intended to raise about $86 million, according to a filing with the U.S. Securities and Exchange Commission. The filing cited market conditions as the reason for the withdrawal. Salient announced its original IPO filing in March, and on the same day that it changed its name from Tissuelink Medical Inc.
In July 2007, the privately held company closed a $20 million Series E round of venture capital.
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