Computer-aided detection (CAD) firm Medipattern has completed a private placement of 10 million common shares of its capital stock, yielding gross proceeds of $2 million Canadian ($1.73 million U.S.).
Proceeds will be used for general working capital purposes, including the further development of the company's Vascular iQ initiative, and to continue building its B-CAD-For-Life program, according to the Toronto-based company.
Related Reading
Medipattern nets New York deal, June 24, 2009
Medipattern to complete private placement, June 11, 2009
Revenue down in Medipattern's Q3, May 27, 2009
Medipattern ships B-CADs to China, May 22, 2009
Medipattern inks New York deal, May 8, 2009
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