Minimally invasive medicine firm Diomed (AMEX: [[ticker:DIO]]) of Andover, MA, has filed for bankruptcy, the company announced today. The firm intends to sell some of its operating assets for between $6 million and $7 million to a German medical laser manufacturer, Biolitec, which would continue to operate Diomed’s business in the United States. Diomed expects to complete the sale within two to three months, the company said, and to sell its remaining assets under the court’s direction.
Author: Rebecca Zacks
Rebecca is Xconomy's co-founder. She was previously the managing editor of Physician's First Watch, a daily e-newsletter from the publishers of New England Journal of Medicine. Before helping launch First Watch, she spent a decade covering innovation for Technology Review, Scientific American, and Discover Magazine's TV show. In 2005-2006 she was a Knight Science Journalism Fellow at MIT. Rebecca holds a bachelor's degree in biology from Brown University and a master's in science journalism from Boston University.
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