Wednesday, July 26, 2017

USA Today Reports on Financial Complaints Involving Stemedica

The San Diego stem cell company that received national attention for treatments of sports heroes such as Gordie Howe and Bart Starr is now facing legal complaints involving its financial affairs, USA Today reported this morning. 

The story by sports writer Brent Schrotenboer said, 
"The company, Stemedica Cell Technologies, had drawn praise from the families of Bart Starr, the legendary former NFL quarterback, and Gordie Howe, the hockey legend. Both families credited the firm’s stem cells for helping the two bounce back after suffering debilitating strokes. John Brodie, another stroke victim and former NFL MVP quarterback, also praised the company’s stem cell products after being injected with them in foreign countries.
"But even after that boost from big names, a spate of recent legal and financial issues has challenged the company, whose business relies on selling hope in the form of new but unproven regenerative medicine."
The lengthy article went on to discuss lawsuits involving misuse of funds and unpaid bills, including the alleged failure to pay a $500,000 loan despite numerous extensions. 

The company told USA Today that the misuse of funds allegations are "completely false" and has contested the other allegations in court. 
Sphere: Related Content

No comments:

Post a Comment