Innovative Spinal Technologies Inc. (Innovative Spinal) has filed for Chapter 7 bankruptcy protection in the US Bankruptcy Court for the District of Massachusetts. The company claimed assets between $1 million and $10 million and debts between $10 million and $50 million. In February 2009, the company shut down operations, dismissing the staff, emptying their plant and taking down their website.
Innovative Spinal is engaged in the development of spinal products. The company develops fixation systems and motion preservation products used in the treatment of spinal disorders. It is headquartered in Massachusetts, US. The company’s product portfolio includes fixation systems, pedicle screw systems and VBR systems. Its major products are the Axient Dynamic Fixation System and the Paramount Lumbar Fusion System used in minimally invasive surgery (MIS) or open spine surgeries. Its VBR system is an implant inserter which offers accurate implant placement.