Laser Spine Institute closure leaves landlord with $24M loss — 4 details

Laser Spine Institute's abrupt closure March 1 left the landlord of its Tampa, Fla.-based headquarters dealing with a significant financial loss, according to CoStar.

What you should know:

1. The landlord, Highwoods Properties, must write off $24 million of accounts and notes receivable, lease incentives and straight-line rents receivable.

2. LSI was the sole tenant in its 176,088-square-foot headquarters building before it shuttered because it wasunable to achieve financial stability.

3. In addition to its headquarters, LSI closed ASCs in Cincinnati, Creve Coeur, Mo., and Scottsdale, Ariz., in early March.

4. In the past six months, LSI also closed three other locations.

More articles on turnarounds:
Dr. Asher Weiner to buy interest in Center for Ambulatory Surgery — 4 key details
3 ways ASCs can get ahead of the competition — Hospitals, competing centers & more
New Jersey ASC Association brings new member aboard — 3 insights

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