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Lensar, PDL BioPharma announce restructuring plan
Lensar will become a wholly owned subsidiary of PDL BioPharma through a financial restructuring plan that has been court approved, according to a Lensar press release.Lensar, which declared Chapter 11 bankruptcy in December 2016, has maintained its business operations. Through the restructuring, PDL will convert Lensar’s debt to an equity ownership position, the release said.