Reva Medical, a San Diego-based devicemaker that specializes in vascular devices, has filed for Chapter 11 bankruptcy, Mass Device reported.
In its bankruptcy filings, Reva listed $5.9 million in assets and $104.5 million in debt.
The company has secured pre-petition financing of $4.4 million to help fulfill its immediate financial commitments, according to Mass Device.
Reva plans to continue ordinary operations while going through the bankruptcy process.
In February, Reva announced plans to cut 44 percent of its staff, leaving 22 employees remaining, according to Mass Device.
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