Israeli sleep apnea diagnostic device company Itamar Medical Ltd. (NASDAQ: ITMR; TASE: ITMR) $ 70 million in secondary display on Nasdaq. The Caesarea-based company develops and markets non-invasive medical devices to help diagnose respiratory sleep disorders. The $ 24.6 million of the offering was in the form of shares that were sold by the Viola Fund, cutting its stake in Itamar in half. Related Articles With sleep patients staying at home, Itamar Medical’s time has come to collect $ 35 million on Nasdaq. “Sleep is as important as food and water.” The offer closed at a 4.4% discount to the company’s share price when trading closed on Wall Street Thursday evening. On Friday, despite the discount, Itamar’s share price rose 7.25% to $ 273.50, giving the market capitalization $ 1.164 billion. Piper Sandler, Cowen and SVB Leerink will act as joint managers for the proposed proposal. Most of Itamar’s diagnostic devices have been used by cardiologists and other sleep lab professionals, but since the start of the Covid-19 crisis, the focus has shifted to home diagnostic kits. Itamar expects revenues of between $ 12.5 million and $ 12.8 million in the fourth quarter of 2020, an increase of 28-31% over the corresponding quarter of 2019 and an increase of 43-46% when taking into account the one-off big sale in the fourth quarter of 2020. 2019. All-year 2020 revenue will be $ 40.8-41.1 million, an increase of 31% over 2019. In January, Itamar made its first acquisition, buying San Francisco-based Spry Health, which developed a medical system for patient monitoring. Dimension (RPM) solution for an undisclosed sum. The President and CEO of Itamar Medical is Gilad Celik. Posted by Globes, Israel business news – en.globes.co.il – February 7, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
Itamar Medical raises $ 70 million in the Nasdaq offering
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