’s former chief executive, Jim Joyce, who was ousted from his role last month after the medtech issued a sales warning, is among parties that have expressed an interest in taking part in a rescue investment in the company as it faces running out of cash, according to sources.
It is not clear what other investors are involved or whether this pitch would see HealthBeacon being taken private again or continue as a public company.The revolution is coming: Amazon experiments with humanoid robots The Irish Times reported on Tuesday that HealthBeacon has attracted parties interested in making an investment in the company or an outright purchase, at a time when partners in Grant Thornton, which is also HealthBeacon’s auditor, are advising on restructuring options, including the possibility of seeking examinership protection from its creditors.
The company said on October 5th that it was down to its last €500,000 of net cash, enough to continue trading until mid- to late November. It followed up last Friday to warn that its “short-term working capital” had subsequently deteriorated and that it only had enough funds to keep its doors open “until the last week of October”.