Keeler's Medical Supply, a medical equipment company in Yakima, Wash., filed for Chapter 11 bankruptcy June 15, according to a Yakima Herald report.
Keeler President Chuck Vetsch cited changes to Medicare and Medicaid reimbursement as reason for the bankruptcy. Mr. Vetsch also said the business was dealing with federal audits requiring Keeler to repay the programs. The company is disputing the audits.
The company saw its sales fall from nearly $10 million in 2010 to about $1.6 million in 2016, according to the report. Keeler's had about $785,000 in assets as of June 1.
Mr. Vetsch intends to keep the business open during the bankruptcy process.
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