Premier Bionics raises $1.25m for Israeli trauma simulator

Premier Bionics (ASX:PBI) has raised AUD$1.25 million in a placement to provide capital to accelerate the development of a mass trauma simulator in Israel.

The funds will be used by the company^s subsidiary, Medic Vision, which has this year, successfully opened skills training centres in Hong Kong and China, and is now working with the technology and commercial arm of Hadassah hospital in Jerusalem, known as Hadassit, to establish a mass trauma simulator.

¨They are renounced experts in dealing with mass trauma and this is the reason why we chose to work with them,~ said Medic Vision CEO Ross Horley.

Additional funds will also be directed to increasing sales and marketing resources for the company^s ongoing activities in the deployment of medical and surgical simulation in worldwide markets.

The company has placed 5 million new shares and 2.5 million options at an issue price of $0.25.

At time of writing Premier Bionics^ shares were trading at $0.26