Lev Diagnostics Inc. filed for Chapter 11 bankruptcy. The filing comes as the Northbrook, Illinois-based healthcare provider reported liabilities that significantly outweigh its assets. The company plans to reorganize under Chapter 11 while continuing normal operations.
Case Filed in Northern District of Illinois
According to PACER, Lev Diagnostics Inc. has formally stepped into bankruptcy in the U.S. Bankruptcy Court for the Northern District of Illinois. The records add that its voluntary petition was submitted on January 14, 2026.
Court filings classify Lev Diagnostics Inc. as a small business debtor, allowing it to proceed under Subchapter V of Chapter 11.
The aggregate noncontingent liquidated debts of Lev Diagnostics Inc. fall within the Subchapter V eligibility limit of $3,424,000, the filing notes. This amount excludes debts that are owed to insiders or affiliates and will be adjusted on April 1, 2028, and every three years after that.
Company Background and Vision
Since its establishment in 1995, Lev Diagnostics Inc. has been focused on serving clinics, physicians, hospitals, correctional facilities, and nursing/ALF institutions through on-site cardiac diagnostic services. Based in Illinois, the telemedicine company provides equipment used in comprehensive cardiac evaluations.
Services offered by Lev Diagnostics Inc. include pacemaker/ICD monitoring, extended Holter monitoring, sleep apnea, mobile cardiac telemetry, and loop/ICM.
Case Details
Attorney John H. Redfield of Crane, Simon, Clar & Goodman is representing Lev Diagnostics Inc. in the Chapter 11 Subchapter V case. Mayer Zayan, described as the owner and president of the Illinois company in the petition, signed it as the authorized representative.
Key details from the filing include:
- Filing Date: January 14, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Northern District of Illinois
- Type of Filing: Active, Voluntary Petition, Subchapter V
- Chapter: 11
- Case Number: 26-00584
- Estimated Assets: $0 – $50,000
- Estimated Liabilities: $100,001 – $500,000
- Reason for Filing: Reduce the gap between assets and liabilities through reorganization
As of now, Lev Diagnostics Inc. owes roughly 49 creditors in total. Funds will be available for distribution to unsecured creditors, the filing shows.
Court filings also include a list of the company’s 20 largest unsecured creditors. A list of equity security holders, verification of the creditor matrix, and corporate ownership statement were submitted as well.
As the case progresses, the reorganization plan of Lev Diagnostics Inc. will be instrumental in stabilizing the finances while reducing the difference between assets and liabilities.
