Power Medical, surgical-instrument maker, looks to raise $100M from IPO
Power Medical Interventions, a Langhorne, Penn., maker of computer-assisted surgical instruments, filed to raise up to $100 million in an IPO. The company develops precisely controlled “endomechanical” cutters and staplers designed to apply consistent and powerful force in both open and minimally invasive surgeries.
Power Medical has incurred cumulative losses of roughly $137 million and envisions those continuing through 2008. Its IPO filing is here; VentureWire (subscription required) has more here.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.
