Cork-based medical devices firm declares bankruptcy 

PMD Device Solutions are a subsidiary of the Swedish company PMD Device Solutions AB which also filed for bankruptcy in the Stockholm District Court on December 22

Minister of State at the Department of Finance Jennifer Carroll MacNeill and Myles Murray, founder of Cork medical devices firm PMD, ringing the opening bell of the Nasdaq Stockholm Exchange. Mr Murray said despite 'exhaustive efforts' to secure short-term liquidity 'we have been unable to overcome the financial challenges facing PMD Device Solutions'. File picture: Nasdaq

The board of Cork-based PMD Device Solutions has filed for bankruptcy following a review of the company’s financial position which found that it could not resolve its short-term liquidity requirements rendering it unable to meet critical obligations.

PMD Device Solutions develops and sells medical products for respiratory monitoring in both the hospital acute monitoring sector and the remote monitoring home care sector.