Last remaining asset of shuttered pain management, surgery center chain sold

The last remaining asset of the shuttered pain management practice and surgery center chain Advanced Pain Management, a 10,000-square-foot medical office building in Racine, Wis., has sold for twice the court-approved minimum bid. 

The chain closed its doors in 2020, facing financial pressures from the COVID-19 pandemic and a $1 million settlement to resolve kickback allegations. 

The property was sold by Hilco Real Estate, which represented Michael Polsky, the court-appointed receiver. There had been several failed attempts to sell the liquidated property previously, according to a March 27 press release. 

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