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In Brief: Biomagnetic Technologies

This article was originally published in The Gray Sheet

Executive Summary

Biomagnetic Technologies: Magnetic source imaging device company plans restructuring due to "lower short term market projections for its products," the company says. As part of the restructuring, Scott Buchanan will assume the position of president and chief operating officer, replacing James Schumacher who will remain chairman and CEO. Buchanan was previously VP-engineering and applications. An initial staff reduction of 16 employees is expected to be followed by a layoff of 28 more workers after development of the Magnes 2500 WH magnetic source imaging system is completed. Biogmagnetic Technologies also plans on reducing non-personnel related program costs...
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