BioTelemetry and its CardioNet subsidiary agreed to pay $44.875 million to resolve False Claims Act violation allegations. Both companies now belong to Philips after it acquired BioTelemetry for $2.8 billion last year. The U.S. Department of Justice alleged that the companies knowingly submitted false claims surrounding heart monitoring tests. DOJ claims the companies submitted claims […]
Biotelemetry closes $16m VirtualScopics buy
BioTelemetry (NSDQ:BEAT) said yesterday that it closed its $15.5 million acquisition of clinical trial imaging provider VirtualScopics (NSDQ:VSCP), approximately 6 weeks after the deal was 1st announced. The all-cash buyout of Rochester, N.Y.-based VirtualScopics included a $4.05-per-share tender for roughly 3 million VirtualScopics shares. BioTelemetry also offered $336.50 per share for the company’s Series A and […]
CardioNet overbills, BioTelemetry pays $6m
UPDATED April 3, 2015, with comment from BioTelemetry.
BioTelemetry Inc. agreed to fork over $6.4 million to settle federal charges that its CardioNet subsidiary overbilled Medicare for unnecessary outpatient services.
Acquisition: CardioNet nabs cardiac testing lab for $23.5M
Wireless device maker CardioNet names new corporate strategy exec | Personnel Moves
NuVasive swings to Q4, 2011 red | Earnings Roundup
NuVasive (NSDQ:NUVA) swung to red for the 4th quarter and full-year 2011, largely on the back of an $18.2 million writedown of intangible assets.
The San Diego-based spinal implant maker posted a loss of $10.0 million, or 24 cents per share, on sales of $150.2 million for the 3 months ended Dec. 31, 2012. That’s a top-line gain of 16.2% compared with Q4 2010, when NuVasive posted profits of $61.9 million, or $1.39 EPS.
Will Advanced BioHealing pay off for Shire with a buyout deal? | Wall Street Beat
Buyout chatter pushed shares of Shire plc (FTSE:SHP) up nearly 2% in London yesterday and added 1.4% on Wall Street.
CardioNet soars on Street-beating Q4 results
Cost-cutting efforts helped CardioNet (NSDQ:BEAT) top Wall Street’s expectations for the 4th quarter, despite slipping sales for its mobile cardiac outpatient telemetry systems.
The Conshohocken, Pa.-based heart monitor maker posted revenues of $26.8 million for the 3 months ended Dec. 31, a 6.6% decline from $28.7 million during the same time last year.
Argentum sues IP firm, lawyer over lapsed patent | Legal News
Argentum Medical is suing its former intellectual property law firm after it lost a patent infringement suit it filed against Noble Biomaterials.
Accuray dives despite beating The Street as losses gape | Earnings Roundup
Accuray (NSDQ:ARAY) shares are down today after the radiosurgery company reported surging first-quarter sales and beat Wall Street’s earnings expectations, as investors reacted to net losses of nearly six times the Q1 2011 mark.
Accuray reported losses of $26.5 million, or 38 cents per share, on sales of $100.5 million for the three months ended Sept. 30. That’s top-line growth of 163.9 percent compared with the same period last year, largely due to the massive infusion that followed ARAY’s acquisition of rival TomoTherapy earlier this year.
FLASH: BSX COO to step down by end of year | Personnel Moves
Boston Scientific Corp. (NYSE:BSX) COO Samuel Leno announced his retirement as executive VP and chief operating officer after three years with med-tech giant.
Leno made the announcement internally on Friday, Oct. 28, according to documents filed with the SEC.
Leno joined Boston Scientific in June 2007 as executive VP of finance and information systems and CFO. In March 2010, he was appointed executive VP and COO.