# Proteus Digital Health: Chapter 11 liquidation plan confirmed

Proteus Digital Health, Inc. · United States · Digital health

Evidence reviewed Oct 26, 2026. Historical event record.

Proteus Digital Health obtained confirmation of a Chapter 11 liquidation plan in November 2020 after a court-approved sale of technology assets to Otsuka.

## Historical private valuation

$1.5bn · Apr 2016

The original NBER research table lists Proteus Digital Health’s April 2016 private round at $1.5 billion post-money, separately from its modelled fair value.

[William Gornall and Ilya A. Strebulaev / NBER](https://www.nber.org/system/files/working_papers/w23895/w23895.pdf)

## Documented event

Chapter 11 liquidation plan confirmed · Nov 2020

No transaction price shown. Bankruptcy counsel reported confirmation of the debtor’s liquidation plan on November 16, 2020. The confirmation month is used because the announcement does not state the exact order-entry date.

[Goodwin (bankruptcy counsel)](https://www.goodwinlaw.com/en/news-and-events/news/2020/11/11_16-proteus-digital-health-gets-court-approval)

## What changed

Liquidation concerned the original debtor and its estate. The approved asset transaction preserved technology and jobs, so it does not establish that the underlying medication-monitoring technology disappeared or that a successor business shut down.

## Timeline

### Apr 2016 — Private financing benchmark

The original research table identifies the round month and post-money figure.

[William Gornall and Ilya A. Strebulaev / NBER](https://www.nber.org/system/files/working_papers/w23895/w23895.pdf)

### Aug 20, 2020 — Asset-sale approval reported

Debtor’s counsel reported court approval of the proposed $15 million-plus sale to Otsuka America Pharmaceutical, including preservation of jobs.

[Goodwin (bankruptcy counsel)](https://www.goodwinlaw.com/en/news-and-events/news/2020/08/08_20-proteus-sale-to-otsuka-approved)

### Nov 2020 — Liquidation plan confirmed

Debtor’s counsel reported unanimous acceptance by voting creditors and confirmation without a hearing.

[Goodwin (bankruptcy counsel)](https://www.goodwinlaw.com/en/news-and-events/news/2020/11/11_16-proteus-digital-health-gets-court-approval)

## Sources

- [Squaring Venture Capital Valuations with Reality, NBER Working Paper 23895, Table 7](https://www.nber.org/system/files/working_papers/w23895/w23895.pdf) — William Gornall and Ilya A. Strebulaev / NBER; published Oct 2017; accessed Oct 26, 2026; primary source.

- [Proteus Digital Health Gets Court Approval for $15 Million+ Bankruptcy Sale to Otsuka](https://www.goodwinlaw.com/en/news-and-events/news/2020/08/08_20-proteus-sale-to-otsuka-approved) — Goodwin (bankruptcy counsel); published Aug 20, 2020; accessed Oct 26, 2026; primary source.

- [Proteus Digital Health Gets Court Approval For Chapter 11 Plan Of Liquidation](https://www.goodwinlaw.com/en/news-and-events/news/2020/11/11_16-proteus-digital-health-gets-court-approval) — Goodwin (bankruptcy counsel); published Nov 16, 2020; accessed Oct 26, 2026; primary source.

Logo: [Proteus Digital Health logo source](https://ewhealthcare.com/portfolio/proteus-biomedical/). Company trademark rights remain.

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