Without knowing all the specifics, there will be an auction held in the late summer or early fall to sell off the product portfolio to the highest bidder (sound familiar IST). It is safe to say that the bankruptcy court appointed a trustee to oversee the sale of the product portfolio and IP if there is any perceived value to the buyer. If there ever was a fire sale, now would be the time to buy some product. But before you jump off the Santa Monica Pier, remember what the Bee Gees once sang, "How could love so right turn out to be so wrong?" What happened to Vertebron? This company once had the potential to set a precedent for start-up companies.
A quick snap-shot of the management team is probably the leading factor in the demise of the company. I'll spare the "Three Kings" any embarrassment by naming the co-conspirators. Then you have the human element in the company's demise GREED. On numerous occasions they had the opportunity to raise capital or even sell the company. Unfortunately, they didn't learn that your company is only worth what a potential buyer is willing to pay. So now they will find out how much money they will have lost because of this selfish and aberrant behavior.
If Cardo-Medical is still interested in buying this product line, they may have saved themselves $10-15 million. Now that's a bargain if you really believe the industry needs another Pedicle Screw, Cervical Plate and Interbody Devices. Going Once! Going Twice! Sold!!!!!!!