Virtual Radiologic Corp. (VRC; Minnetonka, Minnesota) reported that it hopes to raise up to $82.8 million from its previously disclosed IPO that is scheduled to debut this week, according to documents filed with the U.S. Securities and Exchange Commission.

The company, which provides radiology services to hospitals, clinics and imaging centers, estimates that the IPO will fetch between $16 and $18 a share for the company’s 4.6 million shares. The stock is expected to begin trading Thursday on the Nasdaq Stock Market under the symbol VRAD.

The company, which first reported filing for its IPO in August (Medical Device Daily, Aug. 14, 2007), said that it intends to use the proceeds from the offering for the repayment of the outstanding debt under the term loan under its senior credit facility (about $41 million of the proceeds); the further development and expansion of its service offerings (about $5 million of the proceeds); the recruitment of additional radiologists and increased sales and marketing initiatives (about $2 million of the proceeds); and working capital and general corporate purposes (about $13.7 million of proceeds).

Goldman, Sachs & Co., Merrill Lynch & Co. and William Blair & Co. are the underwriters, and will have an option to purchase an additional 600,000 shares to cover any over-allotments.

Founded in 2004, VRC employs radiologists across the country who can interpret and analyze imaging data from CT scans, MRIs and ultrasounds 24 hours a day using encrypted broadband networks.

Last year, the company reported $54.1 million in revenue, compared with $12.9 million in 2004. For the nine months ended Sept. 30, the company earned a profit of $2.2 million.

VRC was formed through a merger between Virtual Radiologic Consultants, a Minnesota corporation, and Virtual Radiologic Consultants, a Delaware corporation, that was consummated on May 2, 2005. On Jan. 1, 2006, Virtual Radiologic Consultants, the Delaware corporation and the surviving entity in the merger, changed its name to Virtual Radiologic Corporation.

Arterial Remodeling Technologies (ART; Paris) reported that it has closed on a new venture financing round of €5.5 million ($7.8) million from investors Matignon Technologies and SGAM Alternative Investments.

The company said that proceeds will be used to pursue CE mark clearance for the company’s first product, a bioresorbable stent.

“Our stents are designed to be both hemocompatible and biocompatible, therein causing little or no thrombus or inflammation while disappearing over time,” said Patrick Sabaria, a founder, CEO and investor of ART.

The company said it expects to use the new financing round to accelerate and reach its first-in-man milestone sometime in 2008.

ART’s technology is based on intellectual property originating from the Cleveland Clinic; the French national research institute, Centre National de Recherche Scientifique (CNRS; Montpellier, France), and Necker University (Paris). To date, the company said it has raised €10 million ($14.2 million) in venture capital.

In other financing news: CaseNET (Waltham, Massachusetts) reported that it raised $7.5 million in a Series B preferred stock financing led by HLM Venture.

CaseNET is an early-stage healthcare information company that offers healthcare enterprises and government agencies a software solution for medical and care management.

As a new investor, HLM committed $4 million to the round and was joined by existing investors Sigma Partners, Aurora Funds and Howard Cox. Peter Grua, a partner at HLM, will join the CaseNET board.

CaseNET’s software platform is used by health plans, disease management organizations, governmental agencies and large provider groups. It provides care managers with an opportunity to automate their workflow, improve productivity, and secure better outcomes for patients and clients.