Through the deal, HealthTrust members will be able to purchase Avinger’s Pantheris optical coherence tomography image-guided atherectomy system and other products designed to treat peripheral artery disorder.
The Pantheris device is designed to use optical coherence tomography to allow physicians to visualize the vessel and obstruction during atherectomy procedures to treat peripheral artery disease.
“Better treatment options are needed for patients suffering from peripheral artery disease, who endure painful symptoms and, if left untreated, are at increased risk of heart attack and stroke. We are excited that our technologies will now be available to more providers through this agreement with HealthTrust,” prez & CEO Jeff Soinski said in a press release.
In August, Avinger priced a follow-on offering worth $30 million, saying it plans to dip into the cash if it needs to cover penalties for missed revenue covenants this year.
Redwood City, Calif.-based Avinger said it plans to float nearly 8.6 million shares at $3.50 apiece, plus a possible 1.3-million-share underwriters over-allotment that could bring in another $4.5 million. The offering is slated to close August 16, Avinger said. The company makes devices to treat peripheral vascular disease.
The net proceeds are earmarked for general corporate purposes and possibly to pay down debt owed to CRG Partners should Avinger fail to meet a $23 million revenue covenant in 2016. The company, which registered to raise as much as $50 million in March, last month released lower-than-expected sales guidance for the rest of 2016 of $19 million to $23 million, down from $25 million to $30 million previously.
The post Avinger inks deal with HealthTrust GPO appeared first on MassDevice.
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