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February 12, 2016 1:53 PM ET

Healthcare Equipment and Supplies

Company Overview of Gamma Medica-Ideas (USA), Inc.

Company Overview

As of December 22, 2014, Gamma Medica-Ideas (USA), Inc. went out of business as per its Chapter 11 liquidation filing under bankruptcy. Gamma Medica-Ideas (USA), Inc. develops, manufactures, and markets pre-clinical and clinical imaging systems. The company is based in Northridge, California.

19355 Business Center Drive

Suite 8

Northridge, CA 91324

United States

Phone:

818-709-2468

Key Executives for Gamma Medica-Ideas (USA), Inc.

Gamma Medica-Ideas (USA), Inc. does not have any Key Executives recorded.

Gamma Medica-Ideas (USA), Inc. Key Developments

First Amended Liquidation Plan Approved for Gamma Medica, Inc.

The US Bankruptcy Court approved the first amended plan of liquidation of Gamma Medica, Inc. on December 5, 2014. The debtor had filed its amended plan in the Court on September 23, 2014. Administrative Claims, US Trustee Fees, Chapter 11 Trustee Fees of $0.17 million, Priority Tax Claims of $0.04, Priority Unsecured Claims of $0.11 million, Debtor’s Professional Fees of $0.8 million and Creditor Committee’s Professional Fees of $2.3 million will be paid in full in cash. Secured Claims have been fully paid. General Unsecured Claims of $11.6 million have a recovery of 9.48%, an amount of $1.1 million in cash. Claims of Interest Holders will be cancelled and will not receive any distribution. The plan will be funded by cash in hand and sale of assets.

First Amended Liquidation Plan and Disclosure Statement Filed by Gamma Medica, Inc.

Gamma Medica, Inc. filed first amended liquidation plan along with disclosure statement in the US Bankruptcy Court on September 23, 2014. As per the plan filed, Debtor’s Professional Fees of $0.8 million and Committee’s Professional Fees of $2.3 million will be paid in full in cash. Secured Claims have been removed as a class as they have been fully paid. General Unsecured Claims of $11.6 million will be paid $1.1 million in cash, a recovery of 9.48%. The treatment of all other claims remains unchanged.

Liquidation Plan and Disclosure Statement Filed by Chapter 11 Trustee and Official Committee of Creditors Holding Unsecured Claims

Chapter 11 Trustee and Official Committee of Creditors Holding Unsecured Claims, filed a plan of liquidation and disclosure statement for Gamma Medica, Inc. in the US Bankruptcy Court on August 27, 2014. As per the plan filed, Administrative Claims, US Trustee Fees, Chapter 11 Trustee Fees of $0.17 million, Priority Tax Claims of $0.04, Priority Unsecured Claims of $0.11 million, Debtor’s Professional Fees of $0.68 million and Creditor Committee’s Professional Fees of $2.3 million will be paid in full in cash. Secured Claims have been fully paid. General Unsecured Claims of $11 million have a recovery of 10%, an amount of $1.1 million in cash. Claims of Interest Holders will be cancelled and will not receive any distribution. The plan will be funded by cash in hand and sale of assets.

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