According to a post that appeared on Staffing Industry Analysts North American Daily News, “Symbio Solutions, which operates a healthcare vendor management system, filed for Chapter 11 bankruptcy protection last week.”

Proceeds from the sale will go to 100-plus creditors, however, creditors that are entitled to receive funds may not get 100% of what is owed.

Plans call for an auction of the company later this month, and for the sale to close in February, Shifflette said.

Interesting enough, the post reported that Symbio first  ran into payment difficulties last summer after an issue rose with its former factoring company, Sun Capital.

Click here to read the entire post: VMS files bankruptcy, plans sale.

This entry was posted on Tuesday, January 19th, 2010 at 12:52 pm and is filed under Cash Flow Consultant and Factoring Broker News, General Healthcare Industry News, Medical Staffing Industry News, News for Business Owners, PRN Funding Factoring News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.