Lifestream files for Chapter 11
This article was originally published in Clinica
Executive Summary
Lifestream Technologies, the Post Falls, Idaho-based maker of home cholesterol monitors, has filed a petition for Chapter 11 protection in a bankruptcy court in Nevada. Chapter 11 provides the company the opportunity to reorganise its business under the supervision of the court. Lifestream has signed an agreement with Polymer Technology Systems (PTS) for the latter to acquire substantially all of its assets for $750,000, subject to higher and better offers. Indianapolis, Indiana-based PTS makes the CardioChek self-testing system, which can be used to check cholesterol, triglycerides, glucose and ketones.
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