C.R. Bard (NYSE:BCR) said today that it agreed to pay $181 million to acquire Liberator Medical (NYSE:LBMH), a direct-to-consumer distributor of durable medical equipment. The deal, expected to close during the 1st quarter next year, calls for Murray Hill, N.J.-based Bard to pay $3.35 per share for Liberator. The bid is a 36% premium over Liberator’s […]
Durable Medical Equipment
By Catherine Burzik
The Centers for Medicare & Medicaid Services recently implemented the 2nd round of its so-called "competitive bidding" process, a system devised by Medicare to award supply contracts to providers of medical devices and products to patients in their homes.
U.S. Healthcare Supply is in hot water over its aggressive marketing of scooters, sleep apnea devices and other products to Medicare patients who might not need the devices.
CEO Jon Letko availed himself of the the 5th Amendment right not to incriminate oneself during a Senate hearing last week, when Sen. Claire McCaskill (D-Mo.) accused U.S. Healthcare Supply of taking advantage of senior citizens.