By LESLIE MARTIN, Associated PressBaird Medical Equipment, the company that owns Baird Medical Equipment Corp., has been in bankruptcy since January.
The company announced the sale of its assets in April.
Its assets include the Baird Center for Research in Neuroscience, a biomedical research center in Washington.
It also has the medical equipment manufacturing business.
The sale also included the U.S. Department of Veterans Affairs, which will take over operations at the facility and lease it for research and development, said a news release from the company.
Baird has a medical technology division and medical equipment business, but the company is focused on its research and clinical development division, the release said.
The company’s products are designed for patients with cancer and other conditions.
It’s the first of many deals that are coming in the next few months.
The Baird Center is expected to receive $4.9 billion in tax incentives.
It has about $3 billion in debt, according to an annual report filed with the Securities and Exchange Commission.