Pinnacle Transplant Technologies, a Phoenix-based biotech firm, will shut down its Phoenix facility and lay off 90 employees by the end of the year due to declining revenues stemming from changes in Medicare and Medicaid. The company, which specializes in processing and distributing allograft implants from donated human tissue, notified state officials of the layoffs on August 17. Founded in 2010, Pinnacle was recognized on the Inc. 5000 list in 2015 for its rapid growth.
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Link to original article source: https://www.abc15.com/news/business/phoenix-biotech-firm-to-shutter-facility-lay-off-90-employees
