A Medical Device Daily
Scantek Medical (Cedar Knolls, New Jersey) reported that on Dec. 24 it filed a voluntary petition in the U.S. Bankruptcy Court pursuant to Chapter 11 of Title 11 of the United States Bankruptcy Code.
Scantek also said that it has shipped 35,000 units of its BreastCare BreastAlert Differential Temperature Sensor product to a medical equipment supplier for hospitals and doctors in Brazil.
The purchaser has paid Scantek an aggregate of $100,000 to date, and will pay the balance of the purchase price 180 days after receipt of the units. The purchaser's obligation to pay the balance of the purchase price is secured by a standby letter of credit.
BreastCare is a non-invasive, low-cost, single-use medical device which detects tissue heat differential between the breasts. The pads are placed inside of a woman's bra for 15 minutes, after which the device registers a digital reading of the heat conducted from within the breast tissue.