Innovative Spinal Technologies Jilted, Now Bankrupt, Source Says
Summary
We have also been unable to locate a bankruptcy filing for Innovative Spinal Technologies in online indexes of court documents. The former employee we spoke with, who continues to work in the medical industry and therefore requested anonymity, says the company shed staffers throughout 2008 in an effort to cut costs. The source attributes IST’s failure mainly to poor management decisions, rather than difficult business conditions or any lack of fundamental demand for its products, which were designed to help people with damaged intervertebral disks by fusing or stabilizing their spinal segments. “Starting in March of 2007, we lost our VP of sales, then one every month or two, until every senior manager had turned over.” To the source, at least, that was an indication of dissatisfaction or difficulty with … Next Page » Wade Roush is a freelance science and technology journalist and the producer and host of the podcast Soonish. Follow @soonishpodcast • None Biogen’s Ehlers Leaving for Apple Tree, Steps Into Limelight as CEO • None Beam Therapeutics Preps IPO and Sheds Light on Its Gene-Editing Drugs
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