HealthSpot officially files for bankruptcy

HealthSpot station

It’s official now – the health kiosk maker HealthSpot is officially going out of business having filed Chapter 7 papers in the U.S. Bankruptcy Court in Columbus, Ohio. The company won’t try to reorganize — hence it’s Chapter 7 rather than 11 — though we assume some of its assets will be put on sale and perhaps grabbed by competing vendors.

According to the filing, HealthSpot’s assets are worth $5.2 million while its liabilities stand at $23.3 million. The company had raised approximately $48 million over four years, and in the meantime has generated just $1.1 million in revenues, though $600,000 of that came in 2015.

HealthSpot had built 191 kiosks, 137 of which had never been deployed. Its major creditors include internet service provider Cox Communications and Xerox.

Meanwhile, higi — which is in the same [health kiosk] business — has recently raised $40 million from existing investors.

[Via: MedCityNews]