Sphere Medical Heads for $24 Million Placing and AIM IPO
10/20/2011 9:11:03 AM
Cambridge UK based Sphere Medical, which is poised to revolutionise monitoring within intensive care diagnostics, is raising £15m via a placing and heading for an IPO on London’s AIM market.Sphere plans to raise the cash through institutional and other investors. The AIM float is expected to take place before the end of November. Peel Hunt LLP has been appointed nominated adviser and broker to the company. Dr Stuart Hendry said: “It is an exciting time for Sphere. With almost 10 years of development accomplished, we believe we are now in a position with our leading device, Proxima, to achieve a key milestone with its commercial launch in 2012.