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HyperMed Files for Chapter 11 Bankruptcy

Burlington, MA-based medical devices firm HyperMed has filed for Chapter 11 bankruptcy and ceased operations, the Boston Business Journal reports today. The weekly business newspaper, citing bankruptcy filings from Massachusetts District Court, wrote that the company has $2.4 million in debts and $1.1 million in assets. The startup had been marketing a device that used hyperspectral imaging technology (originally developed for the U.S. military) to precisely diagnose the extent tissue damage in diabetic foot ulcers and other conditions attributed to poor circulation.