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Symphonix's Promise

By all accounts, 1997 was a bad year for small medical device companies trying to go public. Does the recent IPO of hearing-aid company Symphonix Devices presage a good market in 1998 for other medical device companies with early-stage technologies?

By all accounts, 1997 was a bad year for small medical device companies trying to go public. Some never made it because the market was so forbidding; many of those that did found their stocks struggling in the months after the IPO. Thus, as they enter 1998, many small cap device companies and their backers are worried that the public market for device companies has gone away.

It may be premature, but the recent IPO of hearing-aid company Symphonix Devices Inc. holds promise that 1998 may...

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