Contour Med’s Bankruptcy Reveals $6.7M in Debts

New filings in U.S. Bank-ruptcy Court in Little Rock show Contour Med Inc. of Little Rock has $6.7 million in debts and only $165,000 in assets.

Last month, when Contour Med filed for Chapter 11, its bankruptcy record was incomplete.

Contour Med, which manufactures custom-made breast prostheses, recently turned in its complete paperwork, which showed that nearly all of its debts are to creditors holding unsecured claims.

Its assets include several patents worth $50,000 and several licenses worth $44,000.

Contour’s largest unsecured creditor is CM Medical LLC of Little Rock, which is owed $3.8 million. CM Medical owns about 80 percent of the company. Susan Cassidy of Naples, Fla., owns 15 percent, the filing shows.

Other unsecured creditors include the Johnston Rock Co. LLC of Heber Springs, which has a claim of $173,448, and the University of Arkansas for Medical Sciences, which is owed $154,947.

Contour reported income of $200,294 in 2010, but that fell to $144,850 in 2011. And through the first quarter of this year, Contour had $27,163 in income.

We couldn’t immediately reach Con-tour’s interim CEO, Barry Corkern, on Thursday.

Contour Med was one of the first companies to graduate in 1997 from UAMS BioVentures, which was formed by UAMS as the state’s first biomedical business incubator, helping researchers commercialize their lab work.

Contour Med said on its website that it “creates the most life-like look and feel custom breast prostheses available in the world.”