Pulse Health Limited (ASX:PHG) has announced a fully underwritten placement and 2 for 5 non-renounceable accelerated entitlement offer to raise approximately $42.5 million.
 

The institutional component of the entitlement offer was completed last week and raised approximately $19 million. 
 

An additional $11.5 million was also raised under the placement to institutional investors.
 

Shares subscribed for under the retail entitlement and shares subscribed for under the underwriting agreement are expected to be issued on 5 Jan 2016.
 

Pulse Health reported a net profit of $2.54 million at 30 June 2015.