AtCor lists on ASX ahead of schedule
Wednesday, 09 November, 2005
Shares in AtCor Medical (ASX:ACG), the developer and marketer of a device to measure cardiovascular function, began trading on the Australian Stock Exchange today at $0.65, 7.5 per cent above its issue price of $0.50.
"We are delighted that it has had such a strong response." said AtCor Medical chief executive officer Ross Harricks. "This is an exciting development in the company's history and will allow us to accelerate our US business.
"It is an unusual stock to come to market because the company is at an advanced stage -- SphygmoCor, has already achieved widespread acceptance in the research market, and has sold more than 750 units in more than 40 countries. It was fantastic to see the stock oversubscribed so quickly and for the company to list a week and a half early," he said.
SphygmoCor measures central aortic pressures and key heart function parameters that help identify cardiovascular risk through a simple, inexpensive and non-invasive test that can be conducted in a doctor's office. The company has raised funds to accelerate its expansion into the US clinical practice market, initially to cardiovascular specialists, and subsequently to the primary care market and general practitioners.
AtCor Medical closed its public offer to raise $15 million oversubscribed at the end of October. The offer was fully underwritten by Blackwood Capital Limited.
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