eMed Technologies will refile IPO
Teleradiology and miniPACS provider eMed Technologies (formerly Access Radiology) has decided that the stock market is being friendlier to Internet and healthcare companies and plans to refile its initial public offering with the Securities and Exchange
Teleradiology and miniPACS provider eMed Technologies (formerly Access Radiology) has decided that the stock market is being friendlier to Internet and healthcare companies and plans to refile its initial public offering with the Securities and Exchange Commission. The Lexington, MA-based company pulled its IPO in November just as it was preparing to issue, citing a volatile market and investor apprehension about healthcare information systems vendors (SCAN 10/27/99).
eMed had hoped to raise more than $57 million through the IPO by selling 3.1 million shares at $12 to $14/share. The company anticipates the new IPO will be issued sometime during the first quarter of 2000, according to John Strauss, vice president of marketing. eMed also plans to use a different underwriter for this offering.
eMed is actively pursuing an Internet-based strategy that includes a new Web service for radiologists (eMed.net), and an extended relationship with compression software developer Aware to develop and market Web-based imaging products.