Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
CTI, Inc. IPO: Roughly $35 mil. from potential $230 mil. initial public offering of common stock will be used to expand manufacturing facilities and grow PETNet distribution network, according to a prospectus filed with the SEC. The PET system and components manufacturer forecasts that the U.S. installed base of dedicated PET scanners will grow at an annual 39% rate over the next five years. Among the reasons is an increasing number of PET applications being covered by CMS and private payers. On Feb. 28, CMS announced it would cover PET as an adjunct to standard imaging modalities for staging patients with distant metastasis or restaging patients with locoregional recurrence or metastasis. CTI reported 2001 sales of $189 mil., up 52% from 2000...