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SafeStitch Medical, Inc. to Merge With TransEnterix, Raise $30 Million



8/15/2013 7:50:56 AM

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SafeStitch Medical says it's agreed to a merger with private equity-backed TransEnterix and plans to issue a $30 million private placement. SafeStitch Medical (OTC:SFES) and TransEnterix are set to merge next quarter in a deal that includes a private placement worth about $30 million. Miami-based SafeStitch said the deal will see it move to Research Triangle, N.C., but keep its name, stock symbol and place on the OTC exchange.

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