CardioNet Sets IPO Terms

CardioNet Inc., a San Diego-based provider of wireless mobile cardiac outpatient monitoring solutions, has set its IPO terms to six million common shares being offered at between $22 and $24 per share. It would have an initial market cap of approximately $512 million, were it to price at the high end of its range. The company plans to trade on the Nasdaq under ticker symbol BEAT, with Citi serving 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.