A Diagnostics & Imaging Week

Iris International (Chatsworth, California) reported that it has filed a shelf registration statement with the Securities and Exchange Commission, which, when declared effective, will allow the company from time to time to offer and sell up to $125 million of common stock, preferred stock and debt securities.

Iris, which makes urinalysis diagnostic systems, said it plans to use the proceeds from the sale of any securities for product development, to finance potential acquisitions and investments in companies or products that are complementary to its business if and when suitable opportunities arise, and for general corporate purposes.

In other financing news:

• biospace med (Atlanta), an orthopedic imaging company, reported that it closed $18 million in venture capital financing led by NBGI Ventures (London) and Cr dit Agricole Private Equity (Paris). Edmond de Rothschild Investment Partners (Paris) and UFG PE (Paris), current investors in the company, also have subscribed to the current round of financing.
  Infusion of new capital from these venture funds will allow for a worldwide market expansion of EOS ultra low dose 2D/3D X-ray.
  "This is a quantum leap in technology for the orthopedic and imaging communities, which have been waiting for a solution to address their specific needs," said Marie Meynadier, biospace med president/CEO. "This new round of financing will accelerate the worldwide commercial deployment of EOS, which already is installed in several European countries and Canada.
  Aelios Finance served as financial advisor to biospace med.
• Virtual Radiologic (VRC; Minnetonka, Minnesota) reported the closing of its initial public offering of 4.6 million shares of common stock at $17 a share.
  The offering consisted of 4 million shares offered by VRC and an additional 600,000 shares offered by certain selling stockholders following the exercise by the underwriters of their option to buy additional shares in the offering.
  The company first reported filing for its IPO last year and reported pricing the offering earlier this month with the hopes of raising about $78.2 million if all over-allotments were exercised.
  VRC said it intends to use the proceeds to repay outstanding debt and for general corporate purposes. Shares of the company's stock are listed on the Nasdaq under the ticker symbol VRAD.
  Goldman, Sachs acted as the sole book-running manager of the offering, while Merrill Lynch acted as co-lead manager and William Blair acted as co-manager.
  VRC provides remote diagnostic image interpretation, or teleradiology, services.
• Inverness Medical Innovations (IMI; Waltham, Massachusetts) reported closing its previously announced public offering on Nov. 20.
  IMI sold 13,634,302 shares at $61.49 a share. The total number of shares included 1.8 million shares sold to the underwriters upon their exercise of their over-allotment option in full. Certain selling stockholders of IMI also sold 165,698 shares in the offering.
  Net proceeds to Inverness were about $806.4 million.
  UBS Investment Bank, Jefferies & Company and Merrill Lynch & Co. are acting as joint book-running managers for the offering. Leerink Swann and Stifel, Nicolaus & Company acted as co-managers for the offering.