Press Release
Schnaittach, November 6, 2026 – PHYSIOMED ELEKTROMEDIZIN AG filed a petition with the Nuremberg Local Court on October 30, 2026, to initiate insolvency proceedings. This move comes against the backdrop of the company’s strained economic and financial situation. It was not possible to secure additional financing to bridge the existing liquidity gap outside of insolvency proceedings. Dr. Harald Schwartz, a specialist attorney in tax law as well as in insolvency and restructuring law, from the law firm SRI Rechtsanwaltsgesellschaft mbH, was appointed as the provisional insolvency administrator. “We are now analyzing the situation quickly and thoroughly,” said the provisional insolvency administrator. Employees’ wages and salaries are initially secured through the insolvency allowance.
The goal is to continue business operations and develop an economically viable long-term solution for the company. PHYSIOMED is being supported in this process by a law firm specializing in restructuring and insolvency law. The competent court will decide on the next steps in the proceedings.
“This step marks a serious turning point for our company and, in particular, for our employees. We are aware of the concerns and uncertainties this entails. Our goal is to responsibly utilize the opportunities presented by this process to stabilize business operations and preserve as many jobs as possible,” explains Bjørn Jochems, CEO of PHYSIOMED ELEKTROMEDIZIN AG.
Future efforts will focus on achieving financial stability and continuing the integration of the company. To this end, processes, cost structures, and collaboration among the company’s divisions will be reviewed. Particular emphasis will be placed on the interfaces between production, supply chain management, procurement, logistics, sales, and service.
“Our employees have driven important changes forward in recent months. We intend to build on this progress. Our products, the expertise of our teams, and our long-standing customer relationships form an essential foundation for this. At the same time, we must be frank: Future developments depend on the outcome of the proceedings and the available financial resources,” said Jochems.
A key priority is providing reliable support to customers and business partners. PHYSIOMED will provide updates on changes resulting from the proceedings and future developments as soon as concrete decisions are available.
About PHYSIOMED
PHYSIOMED ELEKTROMEDIZIN AG, headquartered in Schnaittach with a facility in Pirmasens, develops, manufactures, and distributes medical devices and solutions for physical therapy, medical training, and rehabilitation. Its portfolio includes products from the PHYSIOMED, proxomed, and ERGOFIT brands, as well as complementary consulting, training, and service offerings.
About SRI Rechtsanwaltsgesellschaft mbH
SRI stands for reorganization, restructuring, and insolvency. SRI is one of the leading law firms specializing in reorganization, restructuring, and insolvency. With nine administrators, 22 attorneys, and approximately 100 employees across nine locations in Bavaria, the firm ensures personalized, locally based, flexible, and efficient service. SRI handles reorganizations and administration in standard proceedings, self-administration cases, protective shield proceedings, and through insolvency plans. Drawing on many years of experience in the areas of reorganizationand liquidation trusts as well as corporate restructuring—and through close collaboration between specialized attorneys and business economists—SRI creates the legal and economic framework for the best possible satisfaction of creditors and the successful continuation and restructuring of companies.