Nexell's Baxter deal leaves it without future
This article was originally published in Clinica
Lengthy and unsuccessful efforts to raise capital was one of the key reasons behind Nexell's decision last week to opt for closure. Staff posts will be cut to just three while the Irvine, California company progresses with an orderly wind down. Efforts to merge the company with a third party also proved fruitless. Finally, Nexell opted for the chosen course in order to preserve its assets and meet its obligations, said president and CEO William Albright.