6 orthopedic, spine bankruptcies in 15 years


As practices and tech companies alike have had to weather complicated economic and reimbursement environments over the last 15 years, a handful have been unable to persevere, instead filing for bankruptcy. 

Here are six notable spine and orthopedic bankruptcies from the last 15 years: 

1. In February, spinal cord implant designer InVivo Therapeutics filed for Chapter 11 bankruptcy.

2. Spine devicemaker Surgalign filed for bankruptcy in 2023, selling its assets to Xtant Medical Holdings. 

3. In 2021, Specialty Orthopedic Group Tennessee in Lebanon filed for voluntary Chapter 11 bankruptcy protection, allowing its businesses to restructure debts to help repay creditors over time. 

4. In 2014, Baxano Surgical, whose product lines included the AxiaLIF family of products for single and two-level lumbar fusion, VEO lateral access and interbody fusion system, iO-Flex minimally invasive lumbar decompression system, iO-Tome facetectomy system and Vectre and Avatar posterior fixation systems, filed for Chapter 11 bankruptcy protection. 

5. ReGen Biologics, a company focused on manufacturing orthopedic products, filed for voluntary petitions for Chapter 11 bankruptcy protection in 2011. 

6. In 2010, Lawrence Rothstein, MD, a Dayton, Ohio-based board-certified anesthesiologist and pain medicine specialist, filed for bankruptcy. 

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