Latest News 2009 December HyperMed Inc. Files for Chapter 11 Bankruptcy

HyperMed Inc. Files for Chapter 11 Bankruptcy

In Burlington, Massachusetts, HyperMed Inc. filed for chapter 11 bankruptcy in Massachusetts District Court.  HyperMed Inc. is a medical equipment maker that is headquartered in the state.

According to the company's website, the business has stopped operations and all phone numbers have been disabled.  Online directories show that the private company was formed in 1997 and had approximately 21 employees.

News sources state that the company owns 40 patents for different medical devices.  These devices were detailed in its bankruptcy petition.  The company's main product was called OxyVu-1 and was used to assess patients for poor tisue circulation.  The device could be used on patients with foot ulcers, leg pain and other symptoms related to poor blood flow.

HyperMed Inc. claims that it has $1.1 million in assets and $2.4 million in debts.  Its largest debt is owed to Greenwich Biotech Capital in the amonut of $2 million for an unsecured bridge loan the company had obtained.

Filing for chapter 11 bankruptcy?  Click here to find a bankruptcy lawyer that can assist you!