Insightra Medical, Inc., a commercial-stage cardiology and general surgery medical devices company, and one of its affiliates filed for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No. 17-10179 (KG)). The petition lists between $1 and $10 million in assets and between $10 and $50 million in liabilities. According to the First Day Declaration, the Debtors filed a prepacked chapter 11 plan with the goal to completely restructure the Debtors’ prepetition balance sheet and to emerge from chapter 11 as a viable company. The Debtors seek joint administrationof these cases. The cases have been assigned to the Honorable Kevin Gross.
Contact Norman L. Pernick and Nicholas J. Brannick for more information.