Silk Road Medical, which sells medical devices to treat carotid artery disease, announced terms for its IPO on Monday. 

The Sunnyvale, CA-based company plans to raise $75 million by offering 4.7 million shares at a price range of $15 to $17. Insiders intend to purchase $15 million worth of shares in the offering (20% of the deal). At the midpoint of the proposed range, Silk Road Medical would command a fully diluted market value of $513 million. 

Silk Road Medical was founded in 2007 and booked $35 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol SILK. J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of April 1, 2019.

Read More: https://www.nasdaq.com/article/carotid-artery-device-maker-silk-road-medical-sets-terms-for-75-million-ipo-cm1119264

​Dive Brief:

• Omada Health has added FDA-cleared, cellular-connected blood pressure cuffs and glucose monitors to its chronic disease management program.
• Like rival Livongo, Omada seeks to improve health outcomes and lower costs for employers and health plans by giving people disease management tools and support.
• Omada's expansion of its technology portfolio comes seven months after Livongo unveiled its own cellular-connected blood pressure cuff.

​Read More: https://www.medtechdive.com/news/omada-adds-connected-blood-pressure-cuff-glucometer-to-health-program/550382/

Silk Road Medical, which sells medical devices used in TCAR for the treatment of carotid artery disease, filed on Monday with the SEC to raise up to $86 million in an initial public offering. 

The Sunnyvale, CA-based company was founded in 2007 and booked $35 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol SILK. Silk Road Medical filed confidentially on December 19, 2018. J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. No pricing terms were disclosed.

The article TCAR device maker Silk Road Medical files for a $86 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com. ​

Read More: https://www.nasdaq.com/article/tcar-device-maker-silk-road-medical-files-for-a-86-million-ipo-cm1108850