nSpire Health files for bankruptcy protection

LONGMONT — nSpire Health Inc., which develops respiratory medical devices and software for respiratory information systems, has filed a voluntary petition for Chapter 11 bankruptcy protection with U.S. Bankruptcy Court in Denver.

The filing, submitted Monday, lists assets and liabilities of $1,000,001 to $10 million. Under Chapter 11 bankruptcy, debtors typically seek to devise a reorganization plan that will enable them to continue operating while paying their creditors over time.

nSpire Health is based at 1830 Lefthand Circle in Longmont. The company is represented by Steven Abelman, an attorney with Brownstein Hyatt Farber Schreck LLP in Denver. Abelman did not immediately return a call for comment.

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Michael Sims, who had served as president and CEO of nSpire Health since November 2006, no longer was in that role as of February 2019, according to his LinkedIn profile.

Joseph Fryberger, nSpire Health’s vice president of global finance and one of the company’s creditors, signed the bankruptcy petition on behalf of nSpire. His nSpire Health voicemail account said he was out of the office and would not be checking messages. The voicemail box for the company was full and could not accept messages.

nSpire was formed in late 2006 in Louisville and moved to Longmont in 2007.

The bankruptcy filing indicates that nSpire has 100 to 199 creditors. Creditors with the 20 largest unsecured claims against nSpire include:

• Parkway Products Inc., Fort Collins, $319,189.
• ADP TotalSource Inc., Miami, $164,506.
• Deva Inc., Broomfield, $101,689.
• GCC Longmont Holdings LP, Longmont, $92,469.
• American Express, Fort Lauderdale, Fla., $59,267.
• ICardiac Technologies, Rochester, N.Y., $50,000.
• Viatek, Louisville, $49,523.
• Cooley LLP, San Francisco, $24,828.
• Foremount Enterprise Co. Ltd., Taiwan, $21,530.
• Airgas USA LLC, Houston, $17,491.
• American Express, Dallas, $17,373.
• UPS Plan, Commerce City, $14,158.
• Joseph G. Fryberger, Firestone, $14,083.
• Hirsh Precision Products, Boulder, $13,942
• Plante Moran, Denver, $11,300.
• Parker Hannifin/Hargraves, Mooresville, N.C., $10,872.
• Weiqing Gu, associate professor, Department of Mathematics, Harvey Mudd College, Claremont, Calif., $10,519.
• In-X Machine, Arvada, $10,398.
• General Air Service & Supply, Denver, $10,132.
• American Express, Dallas, $10,073.

In August 2015, nSpire sold its clinical-trials division to iCardiac for an undisclosed sum. At the time of the sale, nSpire said that it would focus on developing and expanding its commercial health-care business and also would serve as an equipment supplier to iCardiac for clinical trials applications.

An affiliate of nSpire Health Inc., nSpire Health LLC, also filed for Chapter 11 protection.