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ATS Medical, Inc.

Cardiac surgery device maker closes $19M convertible senior note offering

Published in Pharma Investments, Ventures and Law Weekly, November 13th, 2005

ATS Medical, Inc., (ATSI) announced the sale of $19 million of 6% Convertible Notes due 2025 in a private placement.

"We believe that this successful offering will provide us increased financial flexibility to continue our strategy to establish ATS Medical as the leading provider of technologies used by the cardiac surgeon," said Michael Dale, chairman, president and CEO.

"Over the past 18 months, we have successfully expanded our franchise to include five innovative product opportunities in addition to our core product, the ATS Open Pivot mechanical heart valve. This strategy leverages our cost structure while expanding our revenue base. The...

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