Acutus Medical, which manufactures tools for catheter-based ablation procedures to treat arrhythmia, filed on Wednesday with the SEC to raise up to $75 million in an initial public offering.
The company's diverse product portfolio includes its foundational product, the AcQMap imaging and mapping system. Early versions have been available in the US since May 2018 and in Western Europe since July 2016, though it fully commenced the launch of its commercial-grade console and software products in the 1Q20. Its installed base, the number of AcQMap consoles and workstations placed into service at customer sites, was 31 as of March 31, 2020.
The Carlsbad, CA-based company was founded in 2011 and booked $4 million in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol AFIB. J.P. Morgan, BofA Securities, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
