• AI
  • Molecular Imaging
  • CT
  • X-Ray
  • Ultrasound
  • MRI
  • Facility Management
  • Mammography

Cedara reduces liabilities

Article

Slowly but surely, Cedara Software is working to put its financial troubles to rest. The Canadian company has settled with certain holders of promissory notes, exchanging the notes

Slowly but surely, Cedara Software is working to put its financial troubles to rest. The Canadian company has settled with certain holders of promissory notes, exchanging the notes for 1.4 million shares of common stock and, in the process, cutting its liabilities by US$3.5 million. The company is negotiating with the remaining note holders to convert about US$3.6 million of debt into company equity. Meanwhile, Cedara has agreed with Carl Zeiss and its affiliates to settle certain financial and other contractual obligations. The agreement provides for a cash settlement of US$1.5 million to Zeiss, paid out over the course of 18 months commencing April 30, and for Cedara to provide US$1.5 million of software licenses and engineering services to Zeiss at no charge. The settlement agreement also provides that, following the provision of this software, both companies will enter into negotiations for Cedara to become a preferred OEM software supplier to a medical division of Zeiss. Cedara has also entered into an agreement under which Medtronic Surgical Navigation Technologies will purchase certain assets owned by Cedara's subsidiary, Surgical Navigation Specialists, related to its image-guided surgery business. Medtronic SNT will offer SNS customers support and a migration path to new Medtronic SNT image-guided systems.

Related Videos
Improving the Quality of Breast MRI Acquisition and Processing
Can Fiber Optic RealShape (FORS) Technology Provide a Viable Alternative to X-Rays for Aortic Procedures?
Does Initial CCTA Provide the Best Assessment of Stable Chest Pain?
Making the Case for Intravascular Ultrasound Use in Peripheral Vascular Interventions
Can Diffusion Microstructural Imaging Provide Insights into Long Covid Beyond Conventional MRI?
Assessing the Impact of Radiology Workforce Shortages in Rural Communities
Emerging MRI and PET Research Reveals Link Between Visceral Abdominal Fat and Early Signs of Alzheimer’s Disease
Reimbursement Challenges in Radiology: An Interview with Richard Heller, MD
Nina Kottler, MD, MS
The Executive Order on AI: Promising Development for Radiology or ‘HIPAA for AI’?
Related Content
© 2024 MJH Life Sciences

All rights reserved.