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CardioNet Inc.

BioTelemetry, CardioNet to pay nearly $45M to resolve False Claims Act violation allegations

December 22, 2022 By Sean Whooley

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 […]

Filed Under: Business/Financial News, Cardiovascular, Legal News, Medicare, Patient Monitoring Tagged With: BioTelemetry, CardioNet Inc.

Biotelemetry closes $16m VirtualScopics buy

May 13, 2016 By Mark Hollmer

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 […]

Filed Under: Imaging, Mergers & Acquisitions, Patient Monitoring Tagged With: Biotel Inc., BioTelemetry Inc., CardioNet Inc., VirtualScopics Inc.

CardioNet overbills, BioTelemetry pays $6m

March 23, 2015 By Mark Hollmer

BioTelemetry pays $6m to settle CardioNet fraud charges

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.

Filed Under: Legal News, News Well Tagged With: BioTelemetry Inc., CardioNet Inc., Remote Patient Monitoring, U.S. Justice Dept. (DOJ)

Acquisition: CardioNet nabs cardiac testing lab for $23.5M

August 6, 2012 By MassDevice staff Leave a Comment

mergers and acquisitions

Wireless medical devices maker CardioNet (NSDQ:BEAT) dropped $23.5 million on cardiac testing laboratory cardioCORE Lab.

CardioNet expects the merger to add between $19-$20 million in revenue and $3.5-$4 million in profit for the full year of 2012, according to a press release.

Filed Under: Mergers & Acquisitions, News Well, Wall Street Beat Tagged With: Cardiac Rhythm Management, CardioCORE Lab, CardioNet Inc.

Wireless device maker CardioNet names new corporate strategy exec | Personnel Moves

June 26, 2012 By MassDevice staff Leave a Comment

fired/hired

 Wireless med-tech company CardioNet names Michael Geldart senior VP of corporate strategy

Filed Under: News Well Tagged With: CardioNet Inc., Medsphere Systems, Personnel Moves, Veryan

NuVasive swings to Q4, 2011 red | Earnings Roundup

February 24, 2012 By MassDevice staff Leave a Comment

NuVasive

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.

Filed Under: MassDevice Earnings Roundup, News Well, Wall Street Beat Tagged With: ArthroCare Corp., CardioNet Inc., Digirad Corp., Endologix, Fresenius, Hansen Medical Inc., Nuvasive, Q4, Symmetry Medical Inc., Teleflex, Theragenics Corp., VirtualScopics Inc., Volcano Corp.

Will Advanced BioHealing pay off for Shire with a buyout deal? | Wall Street Beat

February 23, 2012 By MassDevice staff Leave a Comment

MassDevice.com 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.

Filed Under: Implants, Mergers & Acquisitions, News Well, Regenerative Medicine, Spine, Wall Street Beat Tagged With: Acusphere, Advanced BioHealing Inc., Baxter, CardioNet Inc., Cerner Corp., Cynosure Inc., Escalon Medical Corp., Halfpenny Technologies, Hologic, MAKO Surgical Corp., Nuvasive, Palomar Medical Technologies Inc., Shire Plc., Solta Medical Inc., Stryker, Symmetry Medical Inc., Syneron Medical Ltd., Teleflex, Vascular Magnetics, Volcano Corp.

CardioNet soars on Street-beating Q4 results

February 23, 2012 By MassDevice staff Leave a Comment

CardioNet logo

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.

Filed Under: MassDevice Earnings Roundup, News Well, Patient Monitoring, Wall Street Beat Tagged With: Biotel Inc., CardioNet Inc., Q4

Argentum sues IP firm, lawyer over lapsed patent | Legal News

December 16, 2011 By MassDevice staff Leave a Comment

Argentum Medical, Noble Biomaterials

Argentum Medical is suing its former intellectual property law firm after it lost a patent infringement suit it filed against Noble Biomaterials.

Filed Under: Legal News, News Well, Patent Infringement Tagged With: Argentum Medical, Austin Medical, AVID Medical, CardioNet Inc., Cygnus Medical, depuysynthes, EndoChoice, Legal Roundup, Noble Biomaterials, Spinal Kinetics, Thoratec Corp.

Accuray dives despite beating The Street as losses gape | Earnings Roundup

November 9, 2011 By MassDevice staff Leave a Comment

Accuray

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.

Filed Under: MassDevice Earnings Roundup, News Well, Radiosurgery/Radiation therapy Tagged With: Accuray Inc., Bioject Medical Technologies Inc., BioMimetic Therapeutics Inc., CardioNet Inc., CAS Medical Systems Inc., Cutera Inc., Echo Therapeutics Inc., Electromed, IntriCon Corp., Kips Bay Medical Inc., Misonix, Nobel Biocare Holdings AG, Pro-Dex Inc., Q3, Tornier Inc.

FLASH: BSX COO to step down by end of year | Personnel Moves

October 31, 2011 By MassDevice staff Leave a Comment

Samuel Leno

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.

Filed Under: News Well Tagged With: AtriCure Inc., Boston Scientific, CardioNet Inc., CaridianBTC, Grove Instruments Inc., Insulet, Kinetic Concepts Inc., NewCardio Inc., OmniGuide, Personnel Moves, Vicor Corp., Volcano Corp., Zonare Medical Systems Inc.

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