The U.S. Dept. of Justice said today that Abbott‘s (NYSE:ABT) Alere (NYSE:ALR) agreed to pay $33.2 million to resolve allegations that it knowingly sold unreliable point-of-care diagnostic devices, causing hospitals to submit false claim to Medicare, Medicaid and other federal healthcare programs.
The U.S. alleged that Alere sold materially unreliable Triage devices, which are designed to diagnose serious conditions like acute coronary syndrome and drug overdose, between Jan. 2006 and March 2012. The government claimed that Alere received an array of customer complaints regarding its Triage devices, notifying the company that certain devices produced results with the potential to create false positives and negatives.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.