July 27, 2017 11:05 PM ET

Healthcare Equipment and Supplies

Company Overview of Sotera Wireless, Inc.

Company Overview

Sotera Wireless, Inc. develops, markets, and sells a vital signs monitoring solution. The company offers ViSi Mobile System, a platform for comprehensive vital signs monitoring that is designed to keep clinicians connected to their patients. Its system monitors ECG, heart/pulse rate, SpO2, cuff-based and cuffless on a beat-to-beat basis blood pressure, respiration rate, and skin temperature. The company was formerly known as Triage Wireless, Inc. and changed its name to Sotera Wireless, Inc. in November 2009. The company was incorporated in 2002 and is based in San Diego, California.

10020 Huennekens Street

San Diego, CA 92121

United States

Founded in 2002

Phone:

858-427-4620

Fax:

858-999-2487

Key Executives for Sotera Wireless, Inc.

Chief Executive Officer and Director
Age: 61
Chief Financial Officer
Vice President of Operations and Mechanical Development
Executive Vice President of Product Development
Age: 66
Compensation as of Fiscal Year 2017.

Sotera Wireless, Inc. Key Developments

Third Amended Reorganization Plan Approved for Sotera Wireless, Inc.

The US Bankruptcy Court approved the third amended plan of reorganization of Sotera Wireless, Inc. on May 12, 2017. The debtor has filed its third amended plan in the Court on March 10, 2017. As per the amended plan, administrative expense claims, professional fee claims, priority tax claims of $0.02 million will be paid in full in cash. DIP Facility claims shall be converted to New Series A Preferred Stock. Priority Claims will be paid in full in cash. The secured Pre-Petition Lenders claim of $15.54 million and other secured claims of $0.09 million will be paid in full in cash, respectively. The Trade and Services Provider claims of $2.57 million and other unsecured claims of $19.58 million will be paid in cash in full. Convertible Preferred Interests will be paid in interests. Common Stock in Wireless will be retained. Interest holders shall not receive any distribution under the plan. The plan will be funded from cash in hand, issuance of new common and preferred stock, exit financing in the amount of $30 million and $20 million in funds as a secured loan.

Motion for Asset Sale Approved for Sotera Wireless, Inc.

The US Bankruptcy Court gave an order approving the sale of certain assets of Sotera Wireless, Inc. on March 20, 2017. The debtor had filed a motion for asset sale on February 24, 2017. The debtor has been authorized to sell its certain assets to ZOLL Medical Corporation for a purchase price of $0.68 million in cash, pursuant to an asset purchase agreement dated February 24, 2017. The agreement stipulated that the buyer would provide Sotera Wireless, Inc. with a right to continue to use the technology under a sub-license agreement and the buyer would withdraw its claims against the debtor’s estate. The debtor’s assets include CareGuide Technology and other particular assets related to CareGuide Technology. The sale would be a private sale and not subject to overbid. The sale closing is scheduled for no later than 15 days following the Sale Order, and may be terminated by either the buyer or Seller, if the Closing shall not have been consummated prior to May 1, 2017. Goodwin Procter LLP acted as legal advisor to the buyer.

Third Amended Reorganization Plan & Related Disclosure Statement Filed by Sotera Wireless, Inc.

Sotera Wireless, Inc. filed third amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on March 10, 2017. As per the amended plan, priority tax claims has been estimated at $0.02 million. Secured Pre-Petition Lenders Claim has been re-estimated at $15.54 million. Treatment of all the other classes of claims remain same as per the previous plan.

Similar Private Companies By Industry

Company Name Region
.decimal, Inc. United States
20/20 GeneSystems Inc. United States
20/20 Imaging LLC United States
21st Century Scientific, Inc. United States
21X Corporation United States

Recent Private Companies Transactions

Type
Date
Target
Private Placement
May 22, 2017
--
Bankruptcy
September 30, 2016
--
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
The Advertising Council, Inc. United States
Bertelsmann AG Europe
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Sotera Wireless, Inc., please visit www.soterawireless.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.