Burlington, MA-based medical devices firm HyperMed has filed for Chapter 11 bankruptcy and ceased operations, the Boston Business Journal reports today. The weekly business newspaper, citing bankruptcy filings from Massachusetts District Court, wrote that the company has $2.4 million in debts and $1.1 million in assets. The startup had been marketing a device that used hyperspectral imaging technology (originally developed for the U.S. military) to precisely diagnose the extent tissue damage in diabetic foot ulcers and other conditions attributed to poor circulation.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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