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SomnoMed Limited To Raise Capital

SomnoMed Limited (ASX:SOM) has been granted a trading halt pending capital raising details.

The company has been breaking sales records for its sleep apnea products in the North America, Europe and APAC/Japan regions during the 2013/14 financial year.

Building on this momentum, SomnoMed expects further acceleration of its growth during the 2014/15 financial year.

Sales in the fourth quarter reached 11,973 units, the highest unit sales in the company's history.

Other records were set in all regions during the quarter.

The halt will be in place until the opening of trade on Monday 28th July 2014, or earlier if an announcement is made to the market.

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