Restoration Robotics Goes Public; Brings In $25.2 Million
Healthcare Technology startup Restoration Robotics went public yesterday with an IPO priced at $7 per share, selling 3.6 million shares and raising approximately $25.2 million.
A privately held medical device company dedicated to transforming the field of hair restoration, Restoration Robotics produces the ARTAS System, a computer-assisted, physician-controlled robotic system to harvest follicular units directly from the scalp. The company offers unique expertise in machine vision, image guidance, and robotics, as well as in developing intuitive interfaces to manage those technologies.
The company intends to use its funding toward continued commercialization of the ARTAS system, specifically in expanding their U.S. and international sales and distribution infrastructure, increasing planned physician and consumer marketing initiatives, and obtaining additional regulatory approvals.