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Dynamic Chiropractic – December 16, 2010, Vol. 28, Issue 26
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Dynamic Chiropractic

dynamicchiropractic.com >> Adjusting Tools

Pro-Solutions, Pisciottano File Bankruptcy

By Editorial Staff

On Nov. 4, 2010, Pro-Solutions for Chiropractic, Inc., Dr. Maurice A. Pisciottano and his wife, Laurel K. Pisciottano, filed voluntary petitions for Chapter 7 bankruptcy with the United States Bankruptcy Court, Western District of Pennsylvania.1-2 At the same time, calls to Pro-Solutions' office (724-731-0600) were greeted with a recorded message stating, "We are no longer doing business."

The filing documents for the Pro-Solutions corporation state that the company has between 100-199 creditors, $50,000 or less in assets and $1 million to $10 million of liabilities. The filing documents for the Pisciottanos state that they personally have less than 50 creditors, $50,000 or less in assets and $1 million to $10 million of liabilities.

The bankruptcy filings come on the heels of several lawsuits filed by doctors of chiropractic in California, Florida, Iowa, Pennsylvania, Texas and Washington.3 At least one of those suits has been settled out of court, with the ProAdjuster purchaser able to "walk away without owing any more money."4

Pro-Solutions is the company that sold more than 2,000 ProAdjuster machines in packages ranging as high as $90,000 per package.5 Doctors of chiropractic purchased most of these packages as leases in which Pro-Solutions received full payment for the equipment from the leasing company. Even a conservative average of $60,000 per package yields a total gross income of over $120 million, not including income from other services.

The ProAdjuster adjusting instrument was manufactured by another company, which sold the equipment to Pro-Solutions for $8,000 per unit.6 And while there is certainly other equipment, manuals, software, etc., included in the packages, this still left a very hefty profit margin. With this level of revenue, the bankruptcy filings are causing some to question where all the money went. Certainly the Pisciottano's lavish lifestyle may have made an impact.

Dr. Pisciottano's bankruptcy filing reveals a home address of 305 Sugarwood Drive, Venetia, PA, 15367. An Internet view of the property reveals a grand estate with multiple buildings and a large pool. According to a former employee and local tax records, Dr. Pisciottano purchased the home for $1.8 million and then upgraded the estate with additional construction. In 2008, the Pisciottanos purchased a second home near a ski resort in Champion, Pa., for $1.25 million, according to county tax records. Dr. Pisciottano was also reported to be an avid car collector who owns or has owned a Bugatti, a Bentley, multiple Ferraris, a Jaguar XJS, several Corvettes, a Lexus SUV, a Ford Mustang and a Dodge Ram pickup.

Multiple attempts to contact Dr. Pisciottano by e-mail and cell phone for comment regarding the bankruptcy filings went unanswered as of press time.

References

  1. Voluntary petition for bankruptcy: Pro-Solutions for Chiropractic, Inc., debtor. Filed in United States Bankruptcy Court, Western District of Pennsylvania, Nov. 4, 2010. Petition available for review at www.dynamicchiropractic.com/proadjusterlawsuits/prosolutions_bankruptcy.pdf
  2. Voluntary petition for bankruptcy: Maurice A. Pisciottano and Laurel K. Pisciottano, joint debtors. Filed in United States Bankruptcy Court, Western District of Pennsylvania, Nov. 4, 2010. Petition available for review at www.dynamicchiropractic.com/proadjusterlawsuits/pisciottano_bankruptcy.pdf
  3. Documentation and background information on lawsuits is available at www.dynamicchiropractic.com/proadjusterlawsuits
  4. "Pro-Solutions Settles With Texas DC." Dynamic Chiropractic, June 3, 2010;28(12). www.dynamicchiropractic.com/mpacms/dc/article.php?id=54665
  5. "Pro-Solutions Sued for Breach of Contract." Dynamic Chiropractic, Nov. 18, 2009;27(24). www.dynamicchiropractic.com/mpacms/dc/article.php?id=54268
  6. Sigma complaint against Pro-Solutions; filed on Oct. 6, 2009. www.dynamicchiropractic.com/proadjusterlawsuits/sigma_complaint.pdf

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