August 14, 2015 — IMRIS Inc. announced in late July that investment funds managed by Deerfield Management Company L.P. (“Deerfield”) were the prevailing parties in the recently completed sale process for the company’s assets. Deerfield is a healthcare-focused investment firm that manages over $6 billion in assets, and has been the company’s lender, both prior to and following the commencement of the company’s chapter 11 proceedings.
Jay D. Miller, IMRIS president and CEO, noted that Deerfield’s emergence as the prevailing bidder came as the result of a comprehensive sales process that included a large number of both strategic and financial parties.
A hearing to approve the sale to Deerfield was scheduled before the United States Bankruptcy Court for the District of Delaware on August 12, with the transaction anticipated to close shortly thereafter.
For more information: www.imris.com