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Neuromed Solutions Files for Bankruptcy

by Philip F. Jacobus, CEO | August 03, 2005
Neuromed Solutions GmbH filed for bankruptcy in July in a court in Germany. It is rumored that more than $400,000 in equipment deposits were lost in the process. One NJ based firm in the USA claims to have lost $140,000.

Industry watchers should not confuse Neuromed Solutions with Neuromed AG, Neuromed AG was a pioneer in Europe selling refurbished medical imaging equipment. Neuromed AG also helped to develop the mobile MRI and CT business in Europe.

Neuromed AG was sold to United Medical Systems AG (XETRA UMS) in 2001.

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Neuromed AG was founded by Dr. Michael Friebe and was sold to UMS after Friebe built the company and its reputation in the United States, South America, Africa, Asia and Eastern Europe.

After selling the company to UMS in 2001 Friebe worked for UMS Neuromed for three years then resigned in order to develop new products under his new company Tomovation. Friebe told DOTmed that he felt the market for used and refurbished medical equipment was contracting and that it was time to move on.

In 2003 engineers and managers working for UMS acquired certain assets and formed Neuromed Solutions GmbH. The CEO of Neuromed Solutions is Michael Kwet, According to a well know US Dealer that lost a deposit, Michael Kwet is responsible for the firm's problems.

Neuromed Solutions seems to have overpaid for equipment and as a result they were unable to sell it at a profit. Buyers in Turkey, Eastern Europe and India failed to remit payment on signed contracts which the company was counting on to remain in business.

No one was available at Neuromed Solutions to comment.

Neuromed Solutions is represented in the United States by Diana Upton who is also the president of the International Association of Medical Equipment Remarketers and Servicers (IAMERS).

Ms. Upton told DOTmed that she hopes that the company and/or it's key employees can be re-assembled in some way, because they possess enormous talent in the the industry, as well as terrific contacts in Europe.