Former Assets Of Bankrupt Integrated Medical Systems Inc. Up For Bid

LOS ANGELES, March 26, 2014 /PRNewswire/ -- By order of the U.S. Bankruptcy Court, Tiger Group's Remarketing Services Division is auctioning portable intensive care systems, diagnostic devices, patents, general medical supplies, as well as office and support equipment, and more from bankrupt equipment manufacturer Integrated Medical Systems Inc. A secured creditor has also commissioned a special consignment of a 2007 Ford E350 Super Duty diesel ambulance, Type ll.

Bidding is now underway for the former assets of the company at www.SoldTiger.com and will close in rapid succession, live auction style, on April 1 at 10:30 a.m. (PT). The assets, other than the ambulance, will be available for inspection at 13565 Larwin Circle in Santa Fe Springs, on March 31, from 10:00 a.m. to 4:00 p.m. (PT). The ambulance can be viewed at 1471 Lawrence Drive, Thousand Oaks, on March 31, from 10:00 a.m. to 4:00 p.m. (PT).

"IMS was a leader in developing portable intensive care units," said Jeff Tanenbaum, president of Tiger Remarketing Services. "This auction features over 15 of the company's signature LS-1 units, as well as a number of similar medical devices, patents, test equipment and machinery. Emergency medical equipment users, dealers and exporters will all discover a tremendous buying opportunity at this sale."

Equipment and inventory being auctioned include 15 IMS LS-1 Portable ICU Units; four LSTAT G5 units with travel cases; 12 cardiac science automated external defibrillators; and HP logic analyzers, oscilloscopes, digital voltmeters, dynamic signal analyzers, network analyzers, power supplies, and sweep oscillators.

Patents available for purchase include ones for: a high-speed, high-resolution ultrasonic position and orientation tracker; a mobile, self-contained trauma care system; a multi-dimensional wavelet tomography process; a stereotactic ultrasonic diagnostic process; an eye-finding and tracking system; and three self-contained transportable life support systems.

Support items being sold include two Regal Lift 1,000-lb. capacity lifts, a 50-gallon air compressor, pallet jacks, a vertical band saw, a drill press, more than 40 wire spools, storm cases, oxygen/machine rolling carts, light duty stock shelving, file cabinets and metal cabinets, oxygen bottles, dormitory refrigerators, microwaves, and credit card swipers.

The 2007 Ford E350 Super Duty diesel ambulance has an automatic transmission, walk-through cab, light bar, new tires and batteries.

Computer and server equipment includes Dell PowerEdge servers, Dell Dimension and Precision computers, Sony laptop flat panel monitors, 60 Data LTD and Fujitsu tablets, HP DesignJet 750C & 650C large-format printers, and LaserJet and other printers. Also available are HP, Lexmark, Dialta, Bizhub & OKI copiers.

Integrated Medical Systems Inc. voluntarily filed for Chapter 11 Bankruptcy Protection in March 2013 in California Central Bankruptcy Court (case number 2:13-bk-16265). The case was converted to a Chapter 7 filing in August 2013 (case number 2:13-bk-16265-ER).

For a full description of the assets being auctioned and details on how to bid, visit: www.SoldTiger.com

About Tiger Group
Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital or convert assets to capital quickly and decisively. Tiger's collaborative, straight-forward approach is the foundation for its many long-term 'partner' relationships and decades of success. Tiger operates main offices in Boston, Los Angeles and New York. To learn more about Tiger, please visit www.TigerGroup.com

SOURCE Tiger Group Remarketing Services