Microsulis to raise $15 million privately prior to IPO

Microsulis plans to raise $15 million in a private placement before listing in the US or in Switzerland.
Microsulis, a UK-based medical devices company that does most of its business in Asia, plans to raise $15 million in a private equity placement before applying to sell shares in an initial public offering in the US or Switzerland in 2001.

The company, which has developed an innovative technology that uses microwave energy to destroy tissue inside the body, has spent the five years since its inception completing clinical trials and registering the technology around the world.

Now it's rolling out its first commercial product a system that treats a condition known as menorrhagia, or excessive menstrual bleeding, by destroying the lining of the womb. Some 18 million women a year are affected...

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