Alta Buys Into ATS Medical

Alta Partners has purchased 9.8 million shares of ATS Medical Inc. (Nasdaq: ATSI) common stock at $1.65 per share, in order to help finance ATS' acquisition of the surgical cryoablation business of CryoCath Technologies Inc. (TSX: CYT). Alta also will receive a warrant to purchase an additional 1.96 million shares at $1.65 per share. The initial PIPE gives it an ownership stake in excess of 15 percent.