Austin health tech startup files for Chapter 7 bankruptcy
AUSTIN (Austin Business Journal) — Blood flow imaging company Dynamic Light Inc. last Tuesday filed for Chapter 7 bankruptcy in the U.S. Western District of Texas.
As opposed to a Chapter 11 bankruptcy filing, which typically involves a company restructuring its operations and staying in business, a Chapter 7 bankruptcy filing sets the table for a company's assets to be liquidated and its operations to cease.
Dynamic Light was founded in 2018, and its mission is “to enable real-time blood flow imaging to improve patient care and lower health care costs,” according to its website. The startup's LinkedIn page shows it has fewer than 10 employees, including six registered on the platform.