Arthrex this month paid $5.6 million in a royalty settlement and release agreement with Tiger X Medical, previously known as Cardo Medical, according to an SEC filing. The payment relates to a previously inked asset purchase agreement, signed in January 2011, in which Arthrex picked up Cardo Medical’s arthroplasty division, including all hip and knee […]
Cardo Medical Inc.
Cardo Medical cuts staff in half
Cardo Medical Inc. (OTC:CDOM) laid off half of its 30 employees.
The Beverly Hills, Calif.-based orthopedic implant developer said it let go staff from varying functions and that CEO Dr. Andrew Brooks and COO Michael Kvitnitsky agreed to forego their salaries “for the foreseeable future.”
