Neuromedical Systems Files Bankruptcy Action

Manufacturer of the PapNet® system finally runs out of time and money

CEO SUMMARY: Automated cytology technology suffered its first financial failure. Escalating losses and dismal revenue prospects combined to drive Neuromedical Systems, Inc. into bankruptcy. Its PapNet System for Pap smears was a pioneering technology that never achieved market acceptance. Neuromedical’s experience demonstrates that lab executives take a risk when they adopt new technology.

Faced with poor

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