The Healthcare Communication & Marketing Association (HCMA)—a nonprofit group that ran courses, conferences and an awards program—filed for bankruptcy in New York.
HCMA listed debt of $182,444 and assets of $29,118. HCMA filed its voluntary petition with the bankruptcy court Dec. 17, following an October decision by HCMA's board to dissolve.
“With reduced corporate support and an increased number of unemployed members, the HCMA Board agreed that the most prudent action during these challenging times was to discontinue operations,” read a statement.
In 2007, three organizations (HMC, MMA and MHMA) joined to form the HCMA. As a national association, HCMA was designed for professionals in the healthcare industry's marketing, communications and education fields and offered career development, networking and mentoring opportunities.
Among the group's activities were the International Awards of Excellence (IN-AWE), which MMA founded in 1985 and HCMA took over to recognize healthcare-marketing creative.
The group also partnered with pharmaceutical companies, such as GlaxoSmithKline, on education and ran seminars, workshops and conferences.