Scantek Medical Inc., of Cedar Knolls, N.J., announced on Christmas Eve that it has filed for Chapter 11 bankruptcy protection.
In its statement, Scantek reported that it had shipped 35,000 units of its BreastCare/BreastAlert Differential Temperature Sensor product to a medical equipment supplier for hospitals and doctors in Brazil. The supplier has paid Scantek $100,000 and will pay the balance of the purchase price 180 days after its receipt of the units.
The company also stated that the supplier’s obligation to pay the balance of the purchase price is secured by a standby letter of credit.
BreastCare is a non-invasive, single-use medical device that detects tissue heat differentials between the breasts.