Assured Pharmacy: Assured Pharmacy Files for Prepackaged Chapter 11 Plan

By Tom Corrigan Assured Pharmacy Inc. has filed for bankruptcy protection with a plan to sell itself to Precise Analytical LLC, a toxicology company, for $11.5 million.Assured and a group of regional subsidiaries, which specialize in highly-regulated pain management medication, on Thursday filed for Chapter 11 bankruptcy protection with a prepackaged plan--meaning a sufficient number of creditors have approved the plan--in U.S. Bankruptcy Court in Sherman, Texas.In court papers, Assured said it had aspired to develop a national footprint as the "premier provider of pharmacy services to physicians and patients primarily in the treatment of chronic pain." But, the company struggled to find the capital needed to expand its business and began to scale back ambitions in 2013.Chief Financial Officer Brett Cormier said in courThe post Assured Pharmacy Files for Prepackaged Chapter 11 Plan appeared first on iMarket Reports.