The last remaining asset of the shuttered pain management practice and surgery center chain Advanced Pain Management, a 10,000-square-foot medical office building in Racine, Wis., has sold for twice the court-approved minimum bid, per Becker’s.
The chain closed its doors in 2020, facing financial pressures from the COVID-19 pandemic and a $1 million settlement to resolve kickback allegations.
The property was sold by Hilco Real Estate, which represented Michael Polsky, the court-appointed receiver. There had been several failed attempts to sell the liquidated property previously.
