Surgery-monitoring company ProNerve LLC filed for chapter 11 protection Tuesday with plans to sell itself to a competitor through a bankruptcy auction, Dow Jones Daily Bankruptcy Review reported today. The filing, in U.S. Bankruptcy Court in Wilmington, Del., comes after at least three years of losses at the company, which was founded in 2008 in a Denver suburb. The proposed buyer, SpecialtyCare IOM Services LLC, has already taken on $43.2 million in debt that ProNerve owes to a lender-group led by General Electric Capital Corp. ProNerve, backed by private-equity firm Waud Capital Partners, provides monitoring services to ensure doctors don't damage a patient's nervous system during surgeries and other delicate medical procedures.
