Picis, a Seattle-based developer of information systems for critical-care settings, has raised $12 million in a private placement of debt with institutional and private investors in the U.S. and Europe. The funds will allow the company to accelerate product development and strengthen customer support, says Todd Cozzins, its president and chief executive officer. Picis software systems automate the flow of clinical data from medical devices and computers at the point of care in high-intensity situations, including emergency, surgical, perioperative and intensive care.
Chicago-based Everen Securities says its newly formed healthcare group has completed its first three financings. They include a $7 million private placement for San Diego-based CardioDynamics, which makes devices that measure blood circulation, and a $9 million placement for Orlando, Fla.-based Autonomous Technologies, which makes a radar tracking laser for eye surgery. Everen also underwrote an $18 million initial public offering by Transcend Therapeutics, a Cambridge, Mass.-based pharmaceutical company. Everen's healthcare group, which includes five investment bankers and three research analysts, provides a range of financial and advisory services, including underwritings, private placements, mergers and acquisitions.
Superior Consultant Holdings Corp., a Southfield, Mich.-based healthcare consulting firm, has completed its acquisition of Chi Systems, an Ann Arbor, Mich.-based healthcare strategic, operational and business planning firm, in a transaction valued at $11.2 million. The acquired company will become an operating division of Superior Consultant Co., the healthcare consulting subsidiary of the publicly traded holding company. A second subsidiary, Enterprise Consulting Co., assists clients across a range of industries in the development, design, implementation and maintenance of computer "groupware" and information systems using Internet-style technology.