Return to search

St. Francis Pulls IPO

St. Francis Medical Technologies Inc., an Alameda, Calif.-based developer of motion-preserving technologies and procedures for orthopedic and neurological spine surgery, has withdrawn registration for an $86.25 million IPO. The move comes after St. Francis agreed to be acquired by Kyphon Inc. (Nasdaq: KYPH), in a deal that could be worth up to $725 million. St. Francis has raised over $27 million in VC funding, from firms like U.S. Venture Partners, Versant Ventures and Essex Woodlands Health Ventures.