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Law firm Corrs Chambers Westgarth is advising ImpediMed on its $20 million non-renounceable pro-rata rights issue and institutional placement.
LAW firm Corrs Chambers Westgarth is advising ImpediMed on its $20 million non-renounceable pro-rata rights issue and institutional placement.
Corrs partner Stephanie Daveson said the funds will assist the company in expanding its sales and reimbursement teams, and to market products in the United States.
“The equity raised through this transaction comes on the back of the approval by the American Medical Association of a code that allows doctors to categorise the service provided to patients using ImpediMed’s medical device, thus paving the way for reimbursement for the procedure by health funds.
“ImpediMed is currently the only company with products that meet the criteria to use this new code,” Daveson said.
ImpediMed’s technology assists clinicians in assessing lymphoedema, a side effect of lymph node removal, which can be experienced by breast and pelvic cancer survivors.
Corrs has advised ImpediMed since 2005.
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