Shady Grove bankruptcy?!

[Anonymous]

We are in the middle of IVF at Shady Grove - have done the retrieval and have several embryos but have not started transfers. But we just got notice that they have filed for Chapter 7 bankruptcy!!

Putting aside the infuriating fact that they will apparently not be giving back several thousand dollars that we are owed from our deposit, our #1 concern is what will happen to our embryos. I assume they will not destroy any embryos and will give people the opportunity to transfer to them to other clinics. But what should we do right now to make sure they are safe??

Completely in shock about this and really appreciate any advice.

[Anonymous]

I just googled and I saw another company filed in May? I hope you are mistaken. We just out in a request to get all our money back because we were in a guaranteed program.

[Anonymous]

Anonymous wrote:I just googled and I saw another company filed in May? I hope you are mistaken. We just out in a request to get all our money back because we were in a guaranteed program.

OK - (mostly) false alarm. My partner has been emailing with them about a refund they owe us and have not provided. They just sent a message acknowledging they owed us the refund but saying there was uncertainty (not clear why) about getting it because of the Intagremed bankruptcy you mentioned. Apparently Integramed does some form of financial management for them?

In any case, my partner read the email quickly and just told me that Shady Grove had entered bankruptcy. But that does not seem to be the case.

Again, sorry for any alarm.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I just googled and I saw another company filed in May? I hope you are mistaken. We just out in a request to get all our money back because we were in a guaranteed program.

OK - (mostly) false alarm. My partner has been emailing with them about a refund they owe us and have not provided. They just sent a message acknowledging they owed us the refund but saying there was uncertainty (not clear why) about getting it because of the Intagremed bankruptcy you mentioned. Apparently Integramed does some form of financial management for them?

In any case, my partner read the email quickly and just told me that Shady Grove had entered bankruptcy. But that does not seem to be the case.

Again, sorry for any alarm.

Thank goodness. I was thinking I didn’t get a baby and I’m owed thousands so I’d like it back. Can’t imagine how I’d feel if I i was still treating with them.

[Anonymous]

Bankruptcy doesn’t mean they are out of business. It looks like they were bought out by a private equity firm and are reorganizing their assets. Your embryos are fine.

[Anonymous]

Read their bankruptcy filing.

[Anonymous]

“As these cryopreserved biological materials belong to patients and represent critical human tissue for family building, the ongoing monitoring and management of cryopreservation tanks is imperative,” the company says.

IntegraMed is seeking protection from its creditors as it winds down operations and transfers fertility treatments to third-party facilities ...

https://news.bloomberglaw.com/bankruptcy-law/embryo-and-egg-freezer-integramed-america-files-for-liquidation

[Anonymous]

I have embryos there. Didn't get a letter!

[Anonymous]

Omg! How could they go bankrupt! It was so ridiculously expensive when we did it a few years ago.

[Anonymous]

They were well known for financial issues before Covid, but clearly that was a disaster.

They fought the ASRM recommendation to close last spring despite saying they were following their regulations.

I'm sure their "business" now is much worse.

Also, the CDC put out a report regarding the dangers of pregnancy with Covid just a few weeks ago. Then right around that time Shady Grove announces on social media that they are offering great terms for fertility loans FOR JULY ONLY. So their move is to put pressure on vulnerable women when the risks and future is so uncertain right now. Says a LOT.

[Anonymous]

IntegraMed isn't the same as SGF. IntegraMed provides services, including extending financing to patients, to SGF in exchange for a share of AR.

[Anonymous]

I'm still concerned about moving forward with them, the nurse I worked with has quit and the new one is an idiot. Anyone know how hard it is to move embryos to another clinic?

[Anonymous]

11:19 did you read the bankruptcy filing or the excerpt above? It is clearly a more complicated relationship that you suggest. Shady Grove should tell former patients who have embryos stored there what exactly is going on.