Medical supply company files for bankruptcy after 70 years of business
YAKIMA, Wash. — A local medical supply company filed for bankruptcy this week after almost 70 years of business.
Officials with Keeler’s Medical Supply said sales have been dropping as a result of changes within federal Medicare and Medicaid programs.
The Yakima Herald-Republic reports that sales have dropped from around $10 million in 2010 to just over $1.6 million in 2016.
The company has been around since 1948, selling medical equipment like wheelchairs, walkers, rollators and breast pumps.
According to the company, sales have dropped because of cuts in Medicare and Medicaid programs that reduce business reimbursements.
The company reportedly had a total of about $785,000 in assets on June 1, 2017. It also owed close to $1 million in federal and state taxes, which includes $862,000 owed to the Internal Revenue Service.