Medicalgorithmics resolves bond issue worth PLN 48 mln

Diagnostic device producer Medicalgorithmics has adopted a resolution on the issue of short-term A0 series ordinary beared, zero-coupon (discount) secured bonds, with a total value of PLN 48 million. The issue price of the bond equals the nominal value less a discount of PLN 10 for each bond with a nominal value of PLN 1,000. The bond redemption date is May 2, 2016 with the company's right of early redemption. The purpose of the bond issue is to raise the company's working capital to bridge financing of the acquisition of shares in Medi-Lynx Cardiac Monitoring LLC. Medicalgorithmics is the producer of a cardiology diagnostics device called PocketECG. The majority of the company’s sales are exports. The company has been listed on the WSE since February 2014.