A company that is already 10 years in Chapter 11 , nice...
ProMedCo Management Co., Fort Worth, Texas, which posted healthy profits for three straight years after an initial public offering in March 1997, filed for Chapter 11 bankruptcy protection.
``It's a shame, because that was one of those practice management companies that looked like they were making a success of it,'' said Doug Sherlock, senior healthcare analyst at Sherlock Co., Philadelphia. ``We had hoped they had found the golden key. But it doesn't look that way.''
The company, created in 1994, has consolidated and managed doctors' groups in small metropolitan areas, including Midland, Texas; Las Cruces, N.M.; and Boca Raton, Fla.
Robert Smith, …
