FOR SALE: Low cost implant company with hip and knee systems
NovoSource auction set for June 28 (MassDevice)
Orthopedic device developer NovoSource is headed to the auction block later this month, with the company’s assets to be sold off to pay a creditor.
The Dayton, Ohio-based medical device maker’s primary products were the NovoKnee total knee system and the NovoHip total hip system. In 2014 NovoSource defaulted on a loan from Rhododendron Holdings; the Court of Common Pleas of Montgomery County, Ohio, later ordered NovoSource to pony up more than $3.3 million to satisfy the debt.
The aucti...
