Downtown-Based Flexogenix Files for Chapter 11 Bankruptcy

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Downtown-Based Flexogenix Files for Chapter 11 Bankruptcy
Flexogenics' location at 1000 S. Hope Street in downtown

Flexogenix Group Inc., a Los Angeles-based company that operates joint care clinics in a half dozen U.S. cities, has filed for Chapter 11 bankruptcy.

The downtown firm doing business as Flexogenix filed for bankruptcy March 18 in the U.S. Bankruptcy Court in the Central District of California, in Los Angeles, according to court filings.

The four-year-old company, whose L.A. clinic and headquarters is near L.A. Live, offers non-surgical remedies for joint and knee pain relief.

Flexogenix, owned by Iris and Sean Whalen, MD, has affiliates based in Atlanta, Oklahoma City and three cities in North Carolina, according to its website.

Its federal filing for Chapter 11 reorganization claims assets estimated up to $10 million, with liabilities estimated between $10 million and $50 million.

Its creditors includes a $2.6 million claim by Complete Business Solutions Group, a $1.2 million claim by the Internal Revenue Service and more than $1 million in credit card debts.

Iris Whalen, chief executive of the Flexogenix Group, could not immediately be reached for comment.

Health business reporter Dana Bartholomew can be reached at [email protected]. Follow him on Twitter @_DanaBart.

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