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Liposuction Newsfeed

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Advanced Lipo Dissolve company, Fig, ceases operations and plans to file for bankruptcy PDF Print E-mail
Tuesday, 11 December 2007
The Missouri based company Fig, known previosuly as Advanced Lipo Dissolved has ceased operations and is expected to file for bankruptcy protection from its creditors.
The company was one of the leading providers of lipo dissolve therapy, a controversial process that injects fat dissolving chemicals into targeted areas and then allows the body's lymphatic system eliminate the dissolved fat. This differs from conventional liposuction that inserts a cannula (small tube) into the targeted area, to remove the dissolved fat liquids using suction. Lipo dissolve is said to be less invasive than conventional liposuction, but results have been mixed, with many doctors advising against its use.

Fig had previously raised venture capital of $10 million during the summer, in what was thought to be used for its aggressive expansion program across the United States. Rob Stavis, a managing partner at Bessemer Venture Partners said at the time, "We are very bullish on the opportunity and are 100 percent behind Fig."

The company had recently announced plans to introduce Smartlipo at its treatment centers, a technology that involves use of laser energy, directed through a cannula, to break down fatty cells, instead of the use of the chemicals used in conventional liposuction. Smartlipo was approved for treatment by the FDA in November 2006.

The privately held company does not disclose its financial performance, but it is thought that each new location opening cost in the region of $1 million. In a statement on the company's website, it advised that patients currently undergoing treatment or who have paid for future treatment will be contacted by the company to examine continuing treatment options or making a refund claim. The center at Costa Mesa, California, which is owned independently of the company, continues to trade normally.
Comments (1) >> feed
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written by mary, January 12, 2008

How do you get a refund?? Are we suppose to wait for them to get in touch with us? What are the chances of that? What legal action can we take?

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