Baxano Plans Asset Sale Following Bankruptcy Filing

The minimally invasive spine surgery device firm owes at least $7.6 million to its lender and is looking for bankruptcy protection as it plans to sell off its assets.

Two months after Baxano Surgical Inc. said it had hired the investment bank Houlihan Loukey to explore potential strategic partnerships to ail its troubled spinal device business, the company told investors Nov. 13 it is filing for Chapter 11.

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