Surgical Monitoring Provider Pronerve Goes To Specialtycare After No Competing Bids

ProNerve LLC, a provider of surgical nervous-system monitors for hospitals and doctors, will be sold to lender SpecialtyCare Iom Services LLC despite opposition from the official creditors’ committee (In re ProNerve Holdings LLC, Bankr. D. Del., 15-10373, sale approved 4/10/15).

U.S. Bankruptcy Judge Kevin J. Carey in Delaware signed a sale-approval order on April 10.

The sale contract provides for SpecialtyCare to buy the business for $35 million of debt in lieu of cash and to assume specified liabilities. Before bankruptcy, it bought about $43.2 million of secured debt outstanding under existing loans, intending to use it ...