CardioNet Prices Low

CardioNet Inc., a San Diego-based provider of wireless mobile cardiac outpatient monitoring solutions, raised $81 million in its IPO. The company priced 4.5 million common shares at $18 per share. It closed its first day of trading down at $17.70 per share.


It plans to trade on the Nasdaq under ticker symbol BEAT, while Citi served as lead underwriter.


CardioNet has raised around $163 million in total VC funding, including a $110 million infusion last year. Shareholders include H&Q Healthcare Investors, Sanderling Ventures, Guidant Corp., Foundation Medical Partners and IngleWood Ventures.