Sabratek calls in restructuring company:
This article was originally published in Clinica
Executive Summary
Sabratek, a clinical information connectivity company which has seen its share price fall 30% this month following poor results, has called in a business advisor. The chairman and CEO, Shan Padda and Doron Levitas, vice-chairman and company secretary, have both resigned and Jay Alix & Associates has been hired to develop a reorganisation plan to improve the company's liquidity. Sabratek is facing a class action suit alleging that it made misleading positive announcements while the "company's business was in disarray".