Nu-Med Defaults on Part of Its Debt

Nu-Med Inc., a financially troubled hospital operator based in Encino, has defaulted on certain of its debt and has until Oct. 15 to make interest payments that would prevent it from defaulting on other debentures that were due in September.

The company said that it and its advisers are negotiating with bondholders for a change in the terms of the debentures.

Nu-Med also said that its stock is no longer quoted on the NASDAQ National Market System because it no longer meets minimum capital and bid price requirements. The company’s stock price will now appear in the “pink sheets,” a list of thinly traded stocks published by the National Quotation Bureau.