Image-guided surgery firm fails

Surgical Navigation Specialists is on the ropes. An Ontario, Canada, court has provided the company, a subsidiary of Cedara Software, with protection from creditors at least until Sept. 12. SNS plans to lay off 50 of its 400 or so workers. Efforts to restructure the company may include the sale of assets related to its retail surgical navigation business, which SNS intends to divest. Cedara, a developer of medical imaging software, will provide debtor-in-possession financing, which will be more than offset by the projected reduction in expenses, according to Cedara.