HealthTech Braster raises PLN 40 mln through IPO

HealthTech company Braster has sold all of the 3 million shares offered in its IPO for a total of PLN 40.5 million, the company stated. The funds will be spent on international expansion and developing the firm’s telemedicine solutions. The maximum price for Braster’s shares was set at PLN 16.5, however the issue share price was eventually set at PLN 13.5. Institutional investors purchased 2,923,990 shares, while individual investors acquired 76,010 shares. “The funds obtained by Braster will be allocated mainly to international expansion. This year the company is planning to launch sales in the UK and initialize pilot programs in several countries, following the ones done in Ireland, Japan and Dubai,” the company stated. “If the firm receives FDA approval, it wants to launch sales in the US market by the end of the year,” Braster added. Braster’s eponymous flagship product is a devise for breast examination that women can do by themselves, aimed at early detection and cancer prevention.