MediCor granted interim access to $1.25 million in additional DIP financing

By Caroline Salls

Pittsburgh, Dec. 21 - MediCor Ltd. obtained interim access to $1.25 million of additional debtor-in-possession financing, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company is looking to amend its DIP facility to increase the commitment to $5 million from $2.2 million and to extend the DIP facility's maturity to Feb. 29.

The DIP financing was originally set to expire on Jan. 31.

MediCor said it filed its original DIP motion with the intention of closing an asset sale by the end of 2007. However, no bids were received, and the asset sale motion was withdrawn.

The final hearing is scheduled for Jan. 4.

MediCor, a North Las Vegas, Nev., health care company that makes and sells products for the aesthetic, plastic and reconstructive surgery and dermatology markets, filed for bankruptcy on June 29. Its Chapter 11 case number is 07-10877.

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