Telcare reports first close at $34.71 million on its mezzanine offering


telcare Telcare placed 95% of its non-brokered mezzanine financing with seven backers. The company launched the offering to raise $36.71 million, so far investors started to subscribe to $34.71 million on October 3rd. The company closed four previous unregistered private placements which raised an estimated $50.04 million.

Telcare develops and markets an FDA-cleared wireless glucose monitoring system. The company uses cellular technology and social networking to bridge the last mile between patients with diabetes, their caregivers, and their families in order to transform the care of chronic illness. Investors include Sequoia Capital, Norwest Venture Partners, and Qualcomm Life Fund.

The company is headquartered in Bethesda MD. Telcare kept its revenues undisclosed.
The executive team includes Andrew Flanagan, John R Dwyer and Jonathan C Javitt.
The board of directors includes Casper De Clercq, Kenneth Melani, Patrick Flynn and Scott Carter.

The company has raised an estimated total of $84.75 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Telcare
Industry: Other Health Care
Amount offered: $36.71 million
Amount placed: $34.71 million
First sale: 10-03-2014
Data as of: 10-20-2014

For more information visit www.XDATA.co

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