The medtech firm began to shed money until there was literally "no more gas in the tank". The appointment of an interim examiner by the High Court today has triggered eleventh-hour working capital funding that will pay staff and keep the business afloat.
The Irish medtech, which has suffered multi-million losses since its IPO in 2021, is seeking court protection from its creditors. Unusually for such a petition, it is so cash poor it can't even fund itself through the 100-day examinership process.
Market research has helped stock market investors navigate small-cap companies and avoid unprofitable ones - so-called zombies. Two years on from its IPO, the Irish medtech HealthBeacon is not in that category yet but the signs are worrying.
People with Parkinson's disease can face speech difficulties and long waiting lists to be seen by specialists. Teleatherapy, a Medtech app founded by Clare Meskill, has just raised €700,000 to build out at-home care for patients and clinicians.
Kite Medical, which was trying to develop a trauma-free way to test children for kidney reflux, is appointing a liquidator as it struggled to get funding to continue. Its CEO explains what happened.
Suzanne Moloney decided to hang up her apron as a professional baker in 2018 to focus on her medtech start-up HidraMed Solutions, which creates wound dressings for a rare skin condition. Having landed a number of major deals, it is now raising €1.5m to fuel international growth.
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