• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Opinions
    • Top 30
    • Research
    • Supply Chain
    • Device Sectors
    • Directory
    • Events
    • Resources
    • Microsites
    • More
  • Magazine
  • News
  • Opinions
  • Top 30
  • Research
  • Supply Chain
  • Device Sectors
  • Directory
  • Events
  • Resources
  • Microsites
  • Current / Back Issues
    Features
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Reprints
    Subscribe Now
    Advertise Now
    Top Features
    Parylene Coatings for Medical Device Technologies

    The Big Shift: Nearshoring Trends in Medtech Manufacturing

    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development
    OEM News
    Supplier News
    Service / Press Releases
    Online Exclusives
    Press Releases
    People in the News
    Product & Service Releases
    Supplier News
    Medtech Makers
    Technical Features
    International News
    Videos
    Product & Service Releases
    Live From Shows
    Regulatory
    Financial/Business
    Top News
    Tiny Optical Sensors Could Eradicate Hospital Bed Sores

    Hypoxia Study Confirms Accuracy of Movano Ring for SpO2 & Heart Rate Monitoring

    Seno Medical's Imagio System Wins Supplemental FDA Approval

    Brad Fluegel Joins NeuroMetrix Board of Directors

    Actuating Implant Design Prevents Scar Tissue Buildup
    From the Editor
    Blogs
    Guest Opinions
    Top Opinions
    Parylene Coatings for Medical Device Technologies

    The Big Shift: Nearshoring Trends in Medtech Manufacturing

    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development
    Top 30 Medical Device Companies
    Market Data
    White Papers
    Top Research
    Cooling and Melting the Pain Away

    What Are the Fundamentals of Go-To-Market Strategy in Medical Devices?

    Minding the Gap: How Harmonizing Quality Systems Pays Off

    Building Strong Partnerships Between Medtech and Surgeon-Learning Platforms

    Four Key Considerations for OEMs Transferring a Product Program
    3D/Additive Manufacturing
    Contract Manufacturing
    Electronics
    Machining & Laser Processing
    Materials
    Molding
    Packaging & Sterilization
    R&D & Design
    Software & IT
    Testing
    Tubing & Extrusion
    Cardiovascular
    Diagnostics
    Digital Health
    Neurological
    Patient Monitoring
    Surgical
    Orthopedics
    All Companies
    Categories
    Company Capabilities
    Add New Company
    Outsourcing Directory
    Trademark Plastics Inc.

    Cirtec Medical

    Concise Engineering

    Xact Wire EDM Corp.

    BMP Medical
    MPO Summit
    Industry Events
    Webinars
    Live From Show Event
    Industry Associations
    Videos
    Career Central
    eBook
    Slideshows
    Top Resources
    Medical Computing: COM Express Processes Real-Time Data at the Edge

    The Importance of Building Successful Supplier Relationships

    The Benefits of Outsourcing Innovation in Medtech Manufacturing

    Patching Healthcare Cybersecurity Risks in the Internet of Medical Things

    Leveraging Open Healthcare Data Standards to Improve Medical Device Manufacturing
    Companies
    News Releases
    Product Releases
    Press Releases
    Product Spec Sheets
    Service Releases
    Case Studies
    White Papers
    Brochures
    Videos
    Outsourcing Directory
    Trademark Plastics Inc.

    Cirtec Medical

    Concise Engineering

    Xact Wire EDM Corp.

    BMP Medical
    • Magazine
      • Current/Back Issues
      • Features
      • Editorial
      • Columns
      • Digital Editions
      • Subscribe Now
      • Advertise Now
    • News
    • Directory
      • All Companies
      • ALL CATEGORIES
      • Industry Associations
      • Company Capabilities
      • Add Your Company
    • Supply Chain
      • 3D/Additive Manufacturing
      • Contract Manufacturing
      • Electronics
      • Machining & Laser Processing
      • Materials
      • Molding
      • Packaging & Sterilization
      • R&D & Design
      • Software & IT
      • Testing
      • Tubing & Extrusion
    • Device Sectors
      • Cardiovascular
      • Diagnostics
      • Digital Health
      • Neurological
      • Patient Monitoring
      • Surgical
      • Orthopedics
    • Top 30 Company Report
    • Expert Insights
    • Slideshows
    • Videos
    • eBook
    • Resources
    • Podcasts
    • Infographics
    • Whitepapers
    • Research
      • White Papers
      • Case Studies
      • Product Spec Sheets
      • Market Data
    • MPO Summit
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Microsite
      • Companies
      • Product Releases
      • Product Spec Sheets
      • Services
      • White Papers / Tech Papers
      • Press Releases
      • Videos
      • Literature / Brochures
      • Case Studies
    • About Us
      • About Us
      • Contact Us
      • Advertise with Us
      • eNewsletter Archive
      • Privacy Policy
      • Terms of Use
    Breaking News

    Nuvectra Files for Chapter 11 Bankruptcy

    Court-supervised process has no impact on safety or functionality of Algovita device; company continuing to support physicians.

    Nuvectra Files for Chapter 11 Bankruptcy
    Related CONTENT
    • Ceek Women's Health Appoints Two New Board Members
    • FDA Awards 510(k) Clearance to Laser Associated Sciences' FlowMet-R
    • TransEnterix Appoints New President & CEO
    • Microdermics Appoints CEO
    • Renowned Heart Failure Cardiologist Joins CHF Solutions Board of Directors
    Nuvectra11.14.19
    Nuvectra Corporation, a neurostimulation medical device company, has elected to file a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Texas (the “Court”). The company intends to use this Court-supervised process to continue its review of a range of options to maximize value and address its financial obligations. The Board of Directors and management team continue to believe that the company and its assets have considerable value and are exploring a range of options, including a sale of the company as a whole, of the Algovita Spinal Cord Stimulation System (“Algovita”), of Virtis or of specified assets.
     
    Furthermore, Nuvectra is committed to supporting existing patients using Algovita, as well as the physicians, clinicians and facilities treating patients with Algovita. The safety and functionality of Algovita will not be impacted by the Court-supervised process. The company is currently suspending its support of future implants until the company’s path forward is determined and recommends physicians cease any new implantations, as well as trial procedures and clinical studies in progress, until that time.
     
    Dr. Fred Parks, Nuvectra’s CEO, commented, “Since launching as an independent company, Nuvectra has been investing in our mission to help physicians improve the lives of people with chronic conditions. We were successful in bringing Algovita to market and have opportunities in our pipeline, including Virtis, which we believe will generate value in the future. To fund our innovation and commercialization efforts, the company took on substantial debt. We have been working to achieve an alternative path forward through our extensive review of options for our business over the past several months. Following constructive discussions with our lenders, the Court-supervised process we are starting will provide us the time and flexibility we need to continue our review of options, maximize the value of our assets and address our financial obligations.”
     
    Dr. Parks continued, “We are committed to supporting the patients who are using our device and their physicians and clinicians by maintaining a team of clinical specialists and product support specialists.”
    Related Searches
    • company
    • implants
    • chapter 11
    • dr
    Related Knowledge Center
    • Neurological
    Suggested For You
    Ceek Women Ceek Women's Health Appoints Two New Board Members
    FDA Awards 510(k) Clearance to Laser Associated Sciences FDA Awards 510(k) Clearance to Laser Associated Sciences' FlowMet-R
    TransEnterix Appoints New President & CEO TransEnterix Appoints New President & CEO
    Microdermics Appoints CEO Microdermics Appoints CEO
    Renowned Heart Failure Cardiologist Joins CHF Solutions Board of Directors Renowned Heart Failure Cardiologist Joins CHF Solutions Board of Directors
    FlowMet-R Gets FDA 510K Clearance FlowMet-R Gets FDA 510K Clearance
    Healthcare Veteran Joins MRI Interventions Healthcare Veteran Joins MRI Interventions' Board of Directors
    Broad Reimbursement Approval Given in Japan for TransEnterix Broad Reimbursement Approval Given in Japan for TransEnterix's Senhance Digital Laparoscopy System
    V-Wave V-Wave's Interatrial Shunt Wins Breakthrough Status for Heart Failure
    Co-Diagnostics Inc. Announces New Additions to Board of Directors Co-Diagnostics Inc. Announces New Additions to Board of Directors
    Stryker to Acquire TSO3 Inc. Stryker to Acquire TSO3 Inc.
    Perfuze Perfuze's Millipede Clot Ingestion System Wins Breakthrough Status
    LivaNova Welcomes New Board Member LivaNova Welcomes New Board Member
    TransEnterix Announces Japanese Regulatory Approval of the Senhance Surgical System TransEnterix Announces Japanese Regulatory Approval of the Senhance Surgical System
    TransEnterix Sells AutoLap Assets for $47M TransEnterix Sells AutoLap Assets for $47M

    Related Breaking News

    • Ceek Women

      Ceek Women's Health Appoints Two New Board Members

      Both members have more than two decades of experience in healthcare.
      PR Newswire 11.14.19

    • FDA Awards 510(k) Clearance to Laser Associated Sciences

      FDA Awards 510(k) Clearance to Laser Associated Sciences' FlowMet-R

      The technology includes a small laser diode and a camera the size of a postage stamp to measure blood flow in the digit in real time.
      PR Newswire 11.13.19

    • Surgical
      TransEnterix Appoints New President & CEO

      TransEnterix Appoints New President & CEO

      The company promoted TransEnterix COO/CTO Anthony Fernando to the chief executive position.
      Business Wire 11.11.19


    • Microdermics Appoints CEO

      Microdermics Appoints CEO

      New chief has more than three decades of rich experience across a variety of healthcare environments.
      Globe Newswire 10.30.19

    • Renowned Heart Failure Cardiologist Joins CHF Solutions Board of Directors

      Renowned Heart Failure Cardiologist Joins CHF Solutions Board of Directors

      New board member has been widely published in peer reviewed journals, book chapters, and manuscripts.
      Globe Newswire 10.15.19

    Loading, Please Wait..

    Trending
    • U.K. Strengthens Medical Device Regulations
    • FDA OKs Bodyport's Cardiac Scale, A Noninvasive Biomarker Platform
    • Medidata Unveils New Tech To Improve Clinical Trial Oversight
    • 5 Ways Plastics Revolutionized The Healthcare Industry
    • How To Overcome The Top 6 Medical Device Manufacturing Challenges
    Breaking News
    • Tiny Optical Sensors Could Eradicate Hospital Bed Sores
    • Hypoxia Study Confirms Accuracy of Movano Ring for SpO2 & Heart Rate Monitoring
    • Seno Medical's Imagio System Wins Supplemental FDA Approval
    • Brad Fluegel Joins NeuroMetrix Board of Directors
    • Actuating Implant Design Prevents Scar Tissue Buildup
    View Breaking News >
    CURRENT ISSUE

    July/August 2022

    • Parylene Coatings for Medical Device Technologies
    • Nearshoring Trends in Medtech Manufacturing
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    ADM and Benson Hill Partner to Scale High Protein Soy for U.S. Market
    Tazo Transitions to Regenerative Organic Agriculture
    Protein Ingredient Formulated for Chronic Kidney Disease Patients
    Coatings World

    Latest Breaking News From Coatings World

    USGBC Urges the House to Pass the Inflation Reduction Act
    The ChemQuest Technology Institute Enters Agreement with Universal Matter
    Sherwin-Williams’ TERRA: Embracing Community & Connection in 2023
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Tiny Optical Sensors Could Eradicate Hospital Bed Sores
    Hypoxia Study Confirms Accuracy of Movano Ring for SpO2 & Heart Rate Monitoring
    Seno Medical's Imagio System Wins Supplemental FDA Approval
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Captor Therapeutics Selects CDMO for Clinical Trial Materials
    Catalent to Acquire Metrics Contract Services for $475M
    Sartorius Stedim Biotech Agrees to Acquire Albumedix
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Estée Lauder Pledges 100% Electric Fleet of Vehicles by 2030
    Luster Products Unveils Comfort Oil Scalp Serum
    Anomatic & Novelis Introduce Eco-Friendly Alloy
    Happi

    Latest Breaking News From Happi

    TBH Kids Enters Retail Market with Exclusive Partnership with HEB Stores
    Blushington Expands with New Services and Manhattan Flagship Launch
    Makeup in New York Returns to the Javits Center on Sept. 14-15
    Ink World

    Latest Breaking News From Ink World

    INX to Highlight New Products at Labelexpo Americas
    Sonoco Names Aditya Gandhito Company’s First Chief Accounting Officer
    Quinacridone Pigments Market Size Projected to Reach $539 Million by 2030: Straits
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    APR issues report on state of US recycling
    Durst details Labelexpo Americas product lineup
    Heidelberg USA-Gallus opens new Screeny Demo Room in Pennsylvania
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Vapor Fresh Upgrades Plant-Based Gym Wipe Canisters
    Suominen Releases Half-Year Financial Report
    Essity Switches to Recyclable Packs for Feminine Pads
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Surgalign, RTI Settle Lawsuit Over OEM Biz Sale
    Zavation Shares Results from In-Vitro and In-Vivo Research Study for its Labyrinth Technology
    Cortland Biomedical Adds Suite of Post-Processing Services & Technologies
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Stratasys Signs Agreement to Acquire Covestro’s Additive Manufacturing Materials Business
    The Future of Electronics RESHAPED Event Reports High Demand
    SEMI Applauds President Biden’s Signing of CHIPS and Science Act of 2022

    Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login