Panasonic (NYSE:PC) denied rumors of a $630 million investment into scandal-stricken Olympus (PINK:OCPNY), saying that reports from a Japanese newspaper citing a cash injection into Olympus were untrue.
"I don’t know where that information came from, not from us," Panasonic president Fumio Ohtsubo told Reuters.
Japan’s Kyodo News reported earlier this week that Panasonic had invested in Olympus, which is still trying to recover from a high-profile accounting scandal that sheared its stock value, split its board and executive leaders and launched a slew of regulatory investigations.
Ohtsubo dispelled the reports. saying that Panasonic has no plans to invest in Olympus.
GE Healthcare, Microsoft form joint venture for healthcare intelligence
GE (NYSE:GE) and Microsoft (NSDQ:MSFT) completed formation of a previously announced joint venture, entitled Cardigm, which will launch an open technology platform focused on population management to improve the overall economics of health and wellness.
Mail-order med-tech company cuts 104 jobs in Georgia
Mail-order medical devices company CCS Medical will cuts 104 jobs at its Lawrenceville, Ga., facility a sit moves its corporate headquarters to Clearwater, Fla., following its bankruptcy.
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