Mario Christodoulou, Accountancy Age, Friday 13 August 2010 at 16:06:00

Staff retained following sale of insolvent software firm by administrators from Beever and Struthers

A software company specialising in x-ray has been sold off after being placed into administration.

Charles MacMillan, partner at accountants Beever and Struthers, was appointed administrator to Optasia Medical which has now been sold to venture capital firm Saffron Hill Ventures for an undisclosed sum.

All 15 staff, based in Cheadle, Manchester and Boston USA, will be retained by the new owners.

Charles MacMillan said Optasia encountered financial problems when it tried to establish the product in the USA.?

?We were delighted to sell Optasia as a going concern and to preserve the jobs of its very specialist staff,? he said.

Further reading:

Corporate insolvency market faces fair trade probe

US insolvency actions could have UK reach