Healthcare SPAC MedTech Acquisition files for a $200 million IPO

MedTech Acquisition, a blank check company targeting a US medical technology business, filed on Monday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, MedTech Acquisition will command a market value of $250 million.

The company is led by Chairman Karim Karti, who previously served as COO of iRhythm Technologies (Nasdaq: IRTC); CEO and Director Christopher Dewey, who is currently a Managing Director at Ceros Financial Services and previously was a founding board member of MAKO Surgical; and CFO and Director David Matlin, who co-founded MatlinPatterson Global Advisers and currently serves as its CEO. MedTech Acquisition intends to complement the experience of its management team, primarily focusing on medical technology companies in the US healthcare sector.

MedTech Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol MTACU. The company filed confidentially on October 29, 2020. Raymond James is the sole bookrunner on the deal.