Sphere Medical Limited (04179507): administration
- Status
- Administration ended
- Administration began
- 2019-09-24
- Administrators
- Stephen John Absolom, William James Wright
- Administrators' firm
- KPMG
- Formerly
- GG 103 Limited
- Incorporated
- 2001-03-14
- Location
- London
- Industry
- 32500 Manufacture of medical and dental instruments and supplies
Why it went into administration
- Funding withdrawn / unable to refinance
- Parent or group failure
From the administrators' statement
The Company was incorporated in March 2001 and is part of a group which includes SMHL and SMPL, as noted above.
The Company was the main operating entity within the Group. It is a pre-revenue, medical technology company which since 2003 has been developing a product to streamline the process of Arterial Blood Gas Testing. According to Management, subject to sufficient funding being in place, the product was expected to reach the final phase of testing and launch in 2021 following FDA and CE approvals.
SML is based in Cambridge (head office) and St Asaph, North Wales (production).
Administrators' statement of proposals (2019-11-25) · Companies House register