D Medical Industries Ltd. (TASE:DMDC) will offer shares at $10-12 per share in its planned offering on Nasdaq, according to the updating filing with the US Securities and Exchange Commission (SEC).
D Medical is a holding company of medical device companies developing insulin pumps and other products for the treatment of diabetes. Last month, the company announced that two subsidiaries, Nilimedix Ltd. and Medx-set Ltd., had signed binding letters of intent with a Chinese manufacturer for their products. D Medical's other two portfolio companies are G-Sense Ltd. and Sindolor Medical Ltd.
D Medical plans to launch Nilimedix's disposable insulin pump in the first half of 2011. It believes that the planned production contract will lower production costs of the disposable peripheral equipment.
D Medical's share price rose 4.1% by midday to NIS 35.40, giving a market cap of NIS 220 million.
Published by Globes [online], Israel business news - www.globes-online.com - on July 14, 2010
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