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Nuvectra is permanently ending its operations. This decision is a result of the sale of our intellectual property and certain assets to Cirtec Medical Corporation and travel restrictions on our representatives as a result of the ongoing coronavirus (COVID-19) pandemic.
We have ceased all field patient support, product warranty replacements and treatment activities, effective immediately.
We will continue to provide patient support by phone through confirmation of our Plan of Reorganization by the Bankruptcy Court, which may be as early as April 17, 2020. Thereafter, those services will not be available.
We cannot provide adjustments to therapy or reprogramming.
MRIs can no longer be cleared and the conditions for MRIs cannot be met.
We are no longer offering patient education or troubleshooting programs.
Programmer or equipment replacements are no longer available – it is vital that patients keep their current products charged at this time.
We cannot make specific recommendations regarding patient medical care, and we urge patients to consult their physician if they have questions about keeping or removing their device.
Solicitation Materials:
Please see below for materials related to the Amended Disclosure Statement for Plan of Liquidation of Nuvectra Corporation Under Chapter 11 of the Bankruptcy Code [Docket No. 252](the "Amended Plan"):
The Debtors have established certain dates relating to the solicitation of votes on and confirmation of the Plan as follows:
The Confirmation Hearing is on April 17, 2020 at 2:00 p.m. (CT).
The Voting Deadline is April 13, 2020 at 5:00 p.m.(CT).
The Plan Objection Deadline is April 8, 2020 at 5:00 p.m. (CT).
General Information:
On November 12, 2019, Nuvectra Corporation elected to file a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code"). The case is administered under Case No. 19-43090 before the Honorable Brenda T. Rhoades, in the United States Bankruptcy Court for the Eastern District of Texas (the “Bankruptcy Court”).
Nuvectra intends to use this court-supervised process to continue its review of a range of options to maximize value and address its financial obligations.
Nuvectra is committed to supporting existing patients using Algovita®, as well as the physicians, clinicians and facilities treating patients with Algovita. The safety and functionality of Algovita will not be impacted by the court-supervised process. The Company is currently suspending its support of future implants until the Company’s path forward is determined and recommends physicians cease any new implantations, as well as trial procedures and clinical studies in progress, until that time.
Patients or physicians with questions regarding Algovita should contact Nuvectra by calling 1-844-727-7897 (or +1-214-618-4980 for calls originating outside the U.S.) and selecting option “1” or sending an email to support@nuvectramed.com.
For additional information related to the bankruptcy, please call (888) 201-2205 (U.S./Canada) or (310) 751-1839 (International) or click here to submit an email inquiry.
Sale Order:
The Sale Hearing to consider approval of the Sale of the Assets to the Successful Bidder at the Auction, free and clear of all liens, claims, interests, and encumbrances took place on March 6, 2020 at 10:00 a.m. (prevailing Central Time). A copy of the Notice of Proposed Sale, Bidding Procedures, Auction, and Sale Hearing can be viewed here and a copy of the Order Approving Sale can be viewed here.
A copy of the Order (I) Approving Bid and Auction Procedures, Including Stalking Horse Protections; (II) Authorizing and Scheduling an Auction for the Sale of Assets; (III) Approving the Sale of Assets; and (IV) Granting Related Relief can be viewed here.
A copy of the Bidding Procedures can be viewed here.
The meeting of creditors pursuant to section 341 of the Bankruptcy Code (the "Meeting of Creditors") was held on December 20, 2019 at 10:30 a.m. Central Time at the location listed below. Please click the Notice of Chapter 11 Bankruptcy Case for additional information.
Plano Event Center
(Use EAST Parking Lot)
2000 E. Spring Creek Pkwy.
Plano, TX 75074
Rule 9001(5) of the Federal Rules of Bankruptcy Procedure requires that a representative of the Debtor appear at the Meeting of Creditors for the purpose of being examined under oath by a representative of the Office of the United States Trustee and by any interested parties that attend the meeting. Creditors are welcome, but not required, to attend the meeting. The Meeting of Creditors may be continued or adjourned by notice at the meeting, without further written notice to creditors.
United States Bankruptcy Court
Eastern District of Texas
660 North Central Expressway
Suite 300B
Plano, TX 75074
T: (972) 509-1240 https://www.txeb.uscourts.gov
Nuvectra Claims Processing Center
c/o KCC
222 N. Pacific Coast Highway Suite 300
El Segundo, CA 90245
T: (888) 201-2205
Please file proof(s) of claim, if any, via US Mail or other hand delivery system. Facsimile and other electronic delivery methods are not acceptable. You must file an originally executed proof of claim. If you would like a copy of your claim returned to you as proof of receipt, please enclose an additional copy and a self-addressed postage-paid envelope.
Attorneys' Addresses
Ryan E Manns
Toby L Gerber
Laura L Smith
Shivani Shah
Norton Rose Fulbright US LLP
2200 Ross Avenue, Suite 3600
Dallas, TX 75201-7932
T: (214) 855-8000
F: (214) 855-8200 https://www.nortonrosefulbright.com/en-us
