In its bankruptcy filings, Reva listed $5.9 million in assets and $104.5 million in debt.
The company has secured pre-petition financing of $4.4 million to help fulfill its immediate financial commitments, according to Mass Device.
Reva plans to continue ordinary operations while going through the bankruptcy process.
In February, Reva announced plans to cut 44 percent of its staff, leaving 22 employees remaining, according to Mass Device.
Read the full article here.
More articles on supply chain:
5 predictions for the medical device industry in 2020
EPA backs down on ethylene oxide queries after FDA marks turf
ResMed to pay US $37.5M to settle kickback allegations
