Thursday, February 28, 2008

CardioNet Sets IPO Terms

San Diego-based CardioNet said in a filing with the SEC this morning that it is looking to offer 6.6M shares of the firm's common stock in an IPO, at between $22.00 and $24.00 per share. CardioNet's IPO is being underwritten by Citi, Lehman Brothers, Leerink Swann, and Thomas Weisel Partners. The firm develops systems for monitoring patient health for outpatient treatment. CardioNet is backed by Boston Scientific, Sanderling Ventures, H&Q, BioFrontier, IngleWood Ventures, Foundation Medical Partners, and others. CardioNet has applied to list on the Nasdaq Global Market as BEAT.