Itamar Medical Closes Nasdaq Public Offering at $40.25 Million

The medical diagnosis company initially looked to raise $30 million to fund its sales and marketing operations as well as product development and clinical trials

Nasdaq and Tel Aviv-listed medical diagnosis company Itamar Medical Ltd. has closed its public offering of American Depositary Shares (ADS) on Nasdaq at $40.25 million, the company announced Tuesday. The company initially looked to raise $30 million but increased its offering due to demand. The company, which develops and manufactures non-invasive diagnostic devices for sleep disorders and cardiovascular diseases, will use the proceeds for sales and marketing as well as product development and clinical research.

 

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