Telemedicine vendor VISICU has filed with the SEC for an initial public offering. VISICU has raised over $15 million in venture capital in their run up to the IPO.
Morgan Stanley & Co., Wachovia Capital Markets LLC, Thomas Weisel Partners LLC and William Blair & Co.
LLC are leading the offering. Visicu did not disclose the number of
shares it plans to offer or an estimated price range for the IPO.
Visicu earned $10.4 million for the nine months ended Sept. 30 on
revenues of $12.6 million, according to its filing. Last year during
that time, the company lost $4.3 million on revenues of $3.5 million.
While sales from 2003 to 2004 jumped from $2.2 million to $5.5 million,
Visicu also cut its loss from $8.4 million to $4.1 million.
Visicu becomes the second Baltimore company to file to go public in
recent months. On Nov. 14, performance apparel company Under Armour
pulled off one of the most successful IPOs of the year, raising $157
million as the stock price doubled.
[Hat tip: FierceHealthcare]