Picis files for IPO

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Wakefield, Mass.-based medical software developer Picis Inc. last week filed a registration statement for a Nasdaq IPO to be available for publicly traded stock.
           
The company hopes the IPO will raise as much as $86.25 million, according to the company’s registration, and will be used towards general corporate proceeds such as new products, sales and marketing, as well as the repayment of debt, the company said.
           
The company’s core project is CareSuite, an integrated line of software systems, for the capture, management and analysis of the large amount of data generated in the delivery of high-acuity patient care.
           
Recent financial results for the company has been mixed. In the first half of 2006, revenues grew 19.3 percent over the same period in 2005 to $28.8 million. Yet the company’s net loss grew somewhat from $6 million to $6.7 million, compared to the previous period in 2005.