A federal judge this week handed down a sentence to a former Orthofix (NSDQ:OFIX) employee who admitted to years of patient medical record falsification.
Orthofix
Edwards CEO Mussallem details U.S. Sapien sales guidance, updates on CoreValve case | Wall Street Beat
Edwards Lifesciences (NYSE:EW) chairman & CEO Michael Mussallem said the medical device company expects to post U.S. sales of $390 million-$440 million for its flagship Sapien heart valve, adding 200 new sites over the next 2 years to its existing roster of 200 sites.
Feds level off-label charges against Stryker, other pain pump makers
Orthofix finally settles civil, criminal beefs for $43M
Judge nixes Orthofix, DoJ deal for 2nd time
A federal judge spiked a settlement deal between Orthofix (NSDQ:OFIX) and the U.S. Justice Dept. for the 2nd, time, saying the agreement isn’t in the public’s best interest.
Judge William Young of the U.S. District Court for Massachusetts 1st nixed the deal back in September because it didn’t then give him enough leeway to impose further penalties.
St. Jude Medical lawyer returns to previous firm | Personnel Moves
Ex-OFIX manager Racey pleads guilty to Medicare fraud
Orthofix settles Blackstone beef with feds for $32M
Orthofix (NSDQ:OFIX) said it’s put to rest a federal kickbacks case against its Blackstone Medical subsidiary for $32 million, consummating a deal the medical device company announced earlier this year.
The government accused Blackstone, which Orthofix acquired in 2006, of violating the False Claims Act with gifts of cash or other valuables to doctors in return for using Blackstone’s spinal implants.
Orthofix drops on Q3 profit slide, lowered guidance
Shares of Orthofix (NSDQ:OFIX) stock shed some 4% of their value today after the medical device company said its 3rd-quarter profits fell and lowered its guidance for the rest of the year.
Lewisville, Texas-based Orthofix reported profits of $7.6 million, or 39¢ per share, on sales of $114.8 million during the 3 months ended Sept. 30, for a 38.7% profit slide and a 2.1% decrease in sales.
Orthofix names Brian McCollum to lead global spine unit | Personnel Moves
Former Orthofix manager charged with Medicare fraud
Former Orthofix (NSDQ:OFIX) territory manager Brian Racey was charged late last month with defrauding Medicare for $250,000 in false claims for the company’s Physio-Stim bone growth stimulator.
Between 2004 and 2008, Racey allegedly forged patient medical records and altered physician prescriptions in order to justify Medicare reimbursement for Physio-Stim use in otherwise non-covered cases.