An Oregon medical technology firm has gone public, in an overseas IPO that raised $12 million.
Electrical Geodesics, Inc, or EGI, makes cap-like nets of electrodes and other products designed to slip on for quick studies of brain activity.
EGI's products were an outgrowth of Dr. Don Tucker's research at the University of Oregon.
Company President Ann Bunnenberg says the IPO is a direct response to the explosion in brain research of the past few decades.
Used with permission from Electrical Geodesics, Inc.
"We've shown steady organic growth over the last eighteen years," Bunneberg says. "We're internally funded, no history of venture or anything of that sort. But now the number of applications, particularly on the clinical side for the technologies coming up - we simply couldn't grow fast enough."
EGI does business in the United States, but also made early sales in the U.K., and now has customers in thirty countries.
Bunnenberg says the company chose the London Stock Exchange because it hosts a submarket designed to launch smaller companies. It has no set requirements for capitalization, and enjoys greater attention from specialty analysts.
The company employes about 80 people in Eugene.
This story originally appeared on Oregon Public Broadcasting.