Logan Reid
The Laser Spine Institute, a chain of hospitals specialising in laser spine surgery, abruptly closed its doors in 2019. The institute had been operating for 14 years and had locations in St. Louis, Cincinnati, Scottsdale, Tampa Bay, Ohio, Arizona, and Missouri. The closure was due to a financial crisis, leaving around 500 to 600 employees without jobs and patients in the lurch. Many patients had already paid deposits and scheduled surgeries, only to be left scrambling to find alternative arrangements. The Laser Spine Institute had a troubled history, facing multiple lawsuits and legal issues in the years leading up to its closure.
| Characteristics | Values |
|---|---|
| Name of the hospital | Laser Spine Institute |
| Date of closure announcement | March 1st, 2019 |
| Locations | St. Louis, Cincinnati, Scottsdale, Tampa Bay, Ohio, Arizona, and Missouri |
| Number of employees | 500+ |
| Number of operating rooms in Tampa facility | 10 |
| Number of recovery beds in Tampa facility | 28 |
| Number of patients helped since 2005 | 75,000 |
| Alternative hospitals for patients | Deuk Spine Institute, Dr. Stieber's Spine Center at OrthoManhattan |
| Specialization | Minimally invasive spinal procedures |
| Reason for closure | Financial crisis, legal issues |
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What You'll Learn
Laser Spine Institute's closure left patients in limbo
The Laser Spine Institute, a chain of laser spine surgery centers, abruptly closed its doors in March 2019, leaving patients and employees in limbo. The institute, which had been operating for 14 years, specialized in minimally invasive spinal procedures and had helped 75,000 patients since its founding in 2005. The closure came as a shock to many, with the company citing financial difficulties as the main reason for shutting down.
The sudden shutdown left patients who had already paid deposits and scheduled surgeries scrambling for alternatives. Many patients were concerned about having to resort to more invasive and potentially risky procedures. The institute assured that it would contact patients slated for surgery and those in post-operative care, referring them to other medical facilities. However, the abrupt nature of the closure left both employees and patients unsure of their next steps.
The Laser Spine Institute had a troubled history, facing numerous lawsuits and legal issues in the years leading up to its closure. In 2013, the institute made headlines when it was sued by professional wrestler Terry "Hulk Hogan" Bollea, who claimed that ineffective treatments cost him $50 million in lost revenue. Hogan reportedly settled out of court for $10 million. The institute was also ordered to pay millions in damages in several other lawsuits, including a $264 million judgment in 2018.
In the aftermath of the closure, patients affected by the shutdown were left with limited options. Local surgical centers near the former Laser Spine Institute offices in Scottsdale, Cincinnati, St. Louis, and Tampa Bay experienced an influx of displaced patients, leading to overbooked schedules. NYC-based spinal surgeon Dr. Jonathan Stieber offered his services to patients affected by the closure, assuring a smooth transition and prompt relief from pain. Deuk Spine Institute, a global leader in laser spine surgery, also stepped in to help patients achieve lasting pain relief through their specialized laser disc repair procedure.
The closure of the Laser Spine Institute highlights the fragile nature of healthcare services and the impact that financial instability can have on patient care. While alternative options emerged, the abrupt shutdown disrupted the lives of many patients and employees, leaving them in limbo and searching for solutions.
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Patients seek alternative treatments
The abrupt closure of the Laser Spine Institute has left patients scrambling to find alternative treatments for their spinal conditions and painful symptoms. Many patients had already paid deposits and scheduled surgeries, only to be left in limbo with nowhere to turn. The institute's sudden shutdown has resulted in an influx of patients seeking appointments with other surgeons near the closed institute locations in Scottsdale, Cincinnati, Tampa, St. Louis, and Ohio.
Dr. Jonathan Stieber, a top spinal surgeon in NYC, has stepped up to assist patients affected by the Laser Spine Institute's closure. Through his practice at the Spine Center at OrthoManhattan, Dr. Stieber offers state-of-the-art technology, a highly trained staff, and a luxurious environment. He has established a Global Concierge Service to assist patients with travel and accommodation arrangements, making it convenient for patients from around the globe to access his specialized care.
Deuk Spine Institute has also emerged as a leading alternative for patients seeking minimally invasive laser spine surgery. Deuk Spine specializes in the Deuk Laser Disc Repair procedure, which effectively treats herniated and bulging discs causing back, neck, and thoracic pain. With world-class physicians, advanced technology, and an efficient patient care pathway, Deuk Spine Institute offers hope for those impacted by the Laser Spine Institute's closure.
Additionally, local surgical centers in the affected cities are witnessing an increase in patient bookings. These surgical centers are doing their best to accommodate the displaced patients, but their schedules are quickly becoming overbooked. The closure of the Laser Spine Institute has undoubtedly disrupted the lives of many patients, and finding alternative treatments has become a pressing concern.
While the sudden shutdown of the Laser Spine Institute has caused significant disruption, patients can take comfort in knowing that dedicated medical professionals like Dr. Stieber and specialized institutes like Deuk Spine are ready to provide alternative treatments and ensure a smooth transition toward pain relief and recovery.
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Deuk Spine Institute offers similar services
The Laser Spine Institute, a pioneer in introducing minimally invasive laser spine surgery to the public, abruptly announced its closure in 2019, leaving patients confused about their next steps. The institute had been operating for 14 years and had spent $56 million on its headquarters in Tampa, Florida, three years prior to its closure.
The institute offers the most advanced treatments for back and neck pain with state-of-the-art techniques, utilizing laser technology and a highly qualified physician team. The Deuk Laser Disc Repair® is a minimally invasive procedure that cures herniated and bulging discs causing back, neck, and thoracic pain. Unlike other laser spine surgery techniques, the Deuk Laser Disc Repair® does not damage or weaken the spine by drilling through bone. The procedure results in virtually no bleeding or scarring and lowers the levels of postoperative complications and pain.
Deuk Spine Institute provides a clear and accurate diagnosis with a tailored plan for relief. With a team of dedicated physicians, world-class technology, and an efficient patient experience pathway, Deuk Spine Institute is a reliable alternative for those seeking relief from spinal ailments.
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The financial crisis led to the Laser Spine Institute's closure
The Laser Spine Institute, a nationwide chain of surgery centers specializing in minimally invasive spinal procedures, abruptly ceased all operations in March 2019 due to a financial crisis. The company had been struggling financially for some time, and despite significant cost-saving measures, it was unable to secure the necessary financing to continue operating. This led to the sudden closure of its remaining surgery centers in St. Louis, Cincinnati, Scottsdale, and Tampa, Florida, its headquarters, affecting about 600 employees and thousands of patients nationwide.
The Laser Spine Institute had a tumultuous history, facing various legal issues and malpractice lawsuits. In 2013, the institute made headlines when it was sued by professional wrestler Terry "Hulk Hogan" Bollea, who claimed that their ineffective treatments cost him $50 million in medical expenses and lost revenue. Hogan reportedly settled out of court for $10 million. The institute was also ordered to pay millions in damages in several other lawsuits, including a $264 million judgment in 2018 for breach of fiduciary responsibility and other charges. These financial blows likely contributed to the institute's financial crisis and eventual closure.
In the months leading up to its closure, the Laser Spine Institute had been working to restructure and control costs. They closed three surgical centers, which significantly reduced their operating costs. However, these measures were ultimately insufficient to secure the company's financial sustainability. The institute's CEO, Jake Brace, expressed his regret over the closure, acknowledging the dedication of their staff and patients throughout their struggles.
The abrupt closure of the Laser Spine Institute left patients and employees in a difficult situation. Many patients had already paid deposits and scheduled surgeries, only to be left in pain and without a clear path forward. Local surgical centers in the affected cities experienced an influx of displaced patients, and surgeons like Dr. Jonathan Stieber offered their services to ensure a smooth transition for those affected. Despite these efforts, the closure highlighted the fragile nature of healthcare institutions and the impact their financial crises can have on the lives of those who depend on them.
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Legal issues plagued the company
The Laser Spine Institute (LSI), which was established in 2005, had a history of legal troubles. In 2006, Joe Bailey and Ted Suhl sued the institute and won $1.6 million in damages. However, they were not awarded punitive damages. This decision was overturned in 2019 by an appeals court in Florida, which ruled that Bailey and Suhl were entitled to punitive damages, increasing the award to $264 million.
In 2013, professional wrestler Terry Bollea, also known as Hulk Hogan, sued LSI for a series of failed surgeries that cost him $50 million in medical expenses and missed work opportunities. LSI also faced legal issues in 2018, including a $264 million judgment for breach of fiduciary responsibility, conspiracy, defamation, slander, tortious interference, and violation of the Florida Deceptive and Unfair Trade Practices Act. That same year, a Pennsylvania judge ordered the institute to pay $20 million to the estate of an Ohio patient.
The weight of these legal issues, combined with a financial crisis, likely contributed to the abrupt closure of LSI in 2019, which left patients confused and concerned about their healthcare options. The closure of LSI's locations in Cincinnati, St. Louis, Scottsdale, and Tampa Bay left patients scrambling to find alternative surgeons and treatments. The company had also spent $56 million on its Tampa headquarters just three years prior to its closure.
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Frequently asked questions
Yes, the Laser Spine Institute has closed down.
The Laser Spine Institute closed down in 2019.
The Laser Spine Institute closed down due to financial problems.
Patients affected by the closure of the Laser Spine Institute can reach out to other specialists, such as Dr. Jonathan Stieber, who is based in NYC.
