UPDATE: Since this story was published, the assets of Moncton MRI were purchased by a group of investors and the clinic continues to operate.
New Brunswick's only private MRI company is in receivership, just a year after it opened with promises of cutting wait times for people in the province.
Last year, IRM Moncton MRI brought to the province one of the most advanced imaging machines in Atlantic Canada and predicted it would see roughly 5,000 patients at year.
Now it appears to be in trouble.
The company received a rotating line of credit of over $3 million from the National Bank of Canada, according to court documents. But the bank says the clinic defaulted on its monthly payments of $25,000, first in July, and again in August.
The documents also say the company wasn't paying NB Power, and the utility threatened to cut it off. Had that happened, the documents state it would have incurred a bill of $300,000 to restart its 3T MRI machine.
The company went into receivership on October 24th.
President Marc Maurice has issued a short statement, saying the present circumstances of the company were caused by disputes among shareholders. He said it was business as usual at the clinic.
But people at orthopaedic surgery offices contacted by CBC said they were shocked the business was in receivership.
One orthopaedic surgeon in Shediac says the Moncton clinic was never full. Dr. Daniel de Yturralde said with staff costs and such an expensive machine, it needed to be busy all the time.
A newspaper notice of the receivership said there will be tours of the assets for potential buyers on the next three Fridays. The company must find a buyer by Dec. 3.