VitalCom Debuts Well

VitalCom Inc., a maker of patient monitors, raised millions of dollars more than expected in its first public stock offering.

The company sold 2.3 million shares at $12.50 a share through underwriters, taking in $25.8 million. VitalCom had previously planned to sell 2 million shares in the range of $9.50 to $11.50.

“We had enough demand that we increased the offering size,” Shelly B. Thunen, the company’s chief financial officer, said.

In its first day Wednesday in the Nasdaq market, the stock traded up to a high of $15, then closed at $13.50 as 2.1 million shares changed hands.

The company will use the proceeds to pay off debt, finance growth and increase its investment in research and development. It might also acquire product lines and technologies.