Laser Spine Institute to Close its Doors, Citing Lack of Financing for Continuing Operations (press release)
PRNewswire/ -- Tampa-based Laser Spine Institute announced today that it will discontinue its operations, effective at the close of business on Friday, March 1. Despite significant cost saving activities over the last 6 months – including closing three surgical centers – that dramatically reduced its operating cost structure, the company has been unable to achieve a financially sustainable path forward.
The company, the nation's leader in minimally-invasive spine surgery, will cease operations, effective immediately. The company is reaching out to other surgical providers in the markets where they operate -- Tampa, Cincinnati, Scottsdale, St. Louis -- to determine whether these providers have the capacity to absorb the additional surgical demand. Simultaneously, company representatives are reaching out to all patients who were slated to have surgery in one of the company's four surgical centers to notify them of the company's closing and refer them to other in-market options. The company will also provide facilities for patients to receive the requisite post-operative care....
