Pear Therapeutics

History

2023: Bankruptcy filing

On April 7, 2023, Pear Therapeutics, a major American developer of IT solutions for medicine, filed for bankruptcy. The procedure will be carried out in accordance with Chapter 11 of the US Bankruptcy Code, which involves the implementation of reorganization while continuing to operate.

In March 2023, Pear Therapeutics, which creates digital therapeutics, announced that it was exploring strategic alternatives to maximize shareholder value. At the same time, various options were considered, including the sale of the company, merger and licensing of technologies. In addition, the possibility of attracting additional funding was assessed. As a result, after analyzing a wide range of different options, Pear Therapeutics came to the conclusion that the best solution for all interested parties is bankruptcy.

Pear Therapeutics files for bankruptcy

During the initiated procedure, Pear Therapeutics intends to sell a business or certain assets in accordance with Article 363 of the Bankruptcy Code. The company will continue to operate in a reduced volume. Foley Hoag LLP, Gibbons P.C., Sonoran Capital Advisors and MTS Health Partners, L.P., are involved as consultants to conduct bankruptcy and carry out related actions.

Today is a difficult day for Pear Therapeutics. We have filed for bankruptcy and will seek to sell the assets. We are also forced to go to reduce the number of personnel. This is definitely not the result that I imagined when I founded the company in 2013. I want to personally thank each of our employees for everything they have done for business and for patients, "said Pear Therapeutics CEO Corey McCann[1]

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