Skip to content
Subscriber Only

Coronavirus Squeezed Bankrupt Diabetes Tech Seller Valeritas

  • Valeritas faced cash crunch when virus stymied production
  • Company plans to sell itself for $23 million in bankruptcy
China’s Spring Festival Travel Declines 40% Amid Coronavirus
Photographer: Qilai Shen/Bloomberg
Updated on

Valeritas Holdings Inc., a diabetes device company, cited the worsening coronavirus epidemic among reasons it had to file for Chapter 11 bankruptcy Sunday night.

Work stoppages in China tied to the virus are worsening the impact of a supply chain problem for Valeritas that started in December, court papers show. It was already facing a cash crunch and possible debt defaults when the manufacturing issue surfaced.