Two weeks after hiring a new chief executive officer, Greensburg biotechnology firm Cardiac Telecom Corp. filed for Chapter 11 bankruptcy protection yesterday, citing a cash problem.
Founded in 1990 by implantable defibrillator co-inventor Alois Langer, the company monitors irregular heart rhythms for patients at home. Chief Restructing Officer Mel Pirchesky acknowledged that Cardiac Telecom had been losing money in recent months and turned a profit "maybe for a year" during its 17 years in business.
