FinancialNeuro

Nevro registers $100m IPO

October 6, 2014 by Alexander Soule

Nevro plans to raise more than $100 million in an initial public offering of stock for its implantable spinal cord stimulation system to treat chronic pain.

Nevro Corp. said it plans to raise more than $100 million in an initial public offering of stock for its implantable spinal cord stimulation system to treat chronic pain.

Menlo Park, Calif.-based Nevro plans to trade on the NASDAQ exchange under the NVRO, according to a regulatory filing. At the maximum price listed in the registration, the offering would be worth $115 million.

Founded in 2006, Nevro has been led since 2011 by ex-Medtronic (NYSE:MDT) COO Michael DeMane. The company has raised more than $153 million so far from backers including Johnson & Johnson (NYSE:JNJ), Covidien (NYSE:COV), Novo Nordisk and New Enterprise Assoc. A Series C round brought it $48 million last year.

READ THE REST AT MASSDEVICE

 

Tags

Josh Sandberg

Josh Sandberg is the President of Ortho Sales Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close