Premiere Medical Management Group, a Burbank, Calif.-based multispecialty medical group, filed for Chapter 7 bankruptcy on Thursday.
Documents filed in the case, which is pending in U.S. Bankruptcy Court for the Central District of California, provide an overview of the financial challenges Premiere is facing.
In its bankruptcy petition, the medical group listed its assets as less than $10,000 and its liabilities as more than $1.6 million. The group said it has more than 50 creditors. Among the creditors are medical supplies companies, physical therapy service providers and IT service and software training companies.
According to the bankruptcy petition, Michael Marsh, MD, Mark Anten and Raffi Minsian have ownership interest in the medical group.
More details about Premiere's finances will be revealed as the bankruptcy case proceeds.
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