Cardiovascular Systems Plans IPO

NEW YORK — Medical device company Cardiovascular Systems Inc., which develops treatment systems for blood vessel disease, registered with the Securities and Exchange Commission on Tuesday for an initial public offering.
The St. Paul, Minn.-based company did not disclose the expected size or price range of the IPO, but indicated the offering may total up to $86.3 million. Cardiovascular Systems noted that the total offering price was estimated solely to calculate its registration fee and may change.
Cardiovascular Systems' initial product is a minimally invasive catheter system used to treat peripheral arterial disease, or PAD, in which plaque deposits build up on the walls of vessels and reduce blood flow.
According to the company, the Diamondback 360 Orbital Atherectomy System uses a diamond grit coated offset crown to sand away both soft and calcified plaque in vessels.
Cardiovascular Systems began a limited commercial introduction of its product in the U.S. in September 2007. Through Dec. 31, the company shipped more than 1,700 single-use catheters to 57 hospitals and generated about $4.6 million in revenue.
full article >> http://www.chron.com/disp/story.mpl/ap/fn/5477855.html