pen News

SurgiQuest, which markets a medical system that enhances access in laparoscopic surgery, filed on Tuesday with the SEC to raise up to $75 million in an initial public offering. The previous two medical device companies to go public, NovoCure (NVCR) and Penumbra (PEN), trade 9% and 34%, respectively, above their offer prices. The Milford, CT-based company, which was...read more

When there's trouble in the markets, IPO investors can rely on unprofitable, early-stage health care companies. The IPO market ended its annual end-of-summer lull as three health care IPOs priced this week, and each traded up about 30% or more. Two priced above the proposed range and one priced below. ...read more

Penumbra, which markets devices for the treatment of strokes and other vascular conditions, raised $120 million by offering 4.0 million shares at $30. It had originally planned to offer 3.8 million shares at a range of $25 to $28. Penumbra plans to list on the NYSE under the symbol PEN. J.P. Morgan and BofA Merrill Lynch acted as lead managers on the deal. ...read more

After three weeks without any deals, the US IPO market is back in session. Three health care companies are each set to raise about $100 million in the week ahead. Backed by Fidelity, medical device company Penumbra (PEN) boasts strong sales growth (+41% in the 1H15) and...read more