From economic difficulties to malpractice suits, here is why these five orthopedic and spine companies filed for bankruptcy in the last 14 years:
1. Surgalign filed for Chapter 11 bankruptcy in June 2023 after showing ongoing financial trouble. Months before the filing, the company announced a 20% workforce reduction and sold its Coflex product line to Xtant Medical.
2. Specialty Orthopedic Group Tennessee in Lebanon filed for voluntary Chapter 11 bankruptcy protection in 2021, listing assets of zero and debts up to $286,993.
3. Baxano Surgical filed for Chapter 11 bankruptcy protection in 2014 to act "in the best interest of its stakeholders."
4. ReGen Biologics, a company focused on manufacturing orthopedic products, filed voluntary petitions for Chapter 11 bankruptcy protection in 2011 after not having enough funding to file its annual earnings report with the SEC.
5. Lawrence Rothstein, MD, a Dayton, Ohio-based board-certified anesthesiologist and pain medicine specialist, filed for bankruptcy in 2010 after 19 malpractice claims were filed against him.