GC Aesthetics plans $75m IPO

Breast implant maker GC Aesthetics unveiled plans yesterday for a $75 million initial public offering. The company said it plans to spend $11.5 million on sales and marketing in new and existing countries, including the launch of its Impleo implant, $4.2 million to grow its product portfolio and $5 million to expand manufacturing. The net proceeds will be used to fund potential future acquisitions, the company said. The company is evaluating the clinical programs necessary to sell its implant products in North America, according to an SEC filing. Bank of America Merrill Lynch, Deutsche Bank Securities and Cowen and Company be book-runners for the offering, with William Blair acting as co-manager, Dublin, Ireland-based GC Aesthetics said. GC Aesthetics plans to list on the NASDAQ Global Market under the ticker symbol “GCAA,” the company said. In March last year, GC Aesthetics raised $60 million from 3 healthcare investment groups, with plans to use the funds to fund international expansion and new product development. The post GC Aesthetics plans $75m IPO appeared first on MassDevice.
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Implants Surgical Women's Health GC Aesthetics Source Type: news