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Companies push back against allegations of FCA violations over excess at-home blood testing

April 9, 2018 By Sarah Faulkner

gavel

A 70-year-old former Marine is taking a group of companies to court over their at-home blood testing services, arguing that the industry players broke the law by requiring patients to conduct weekly tests. The companies then submit these bills to Medicare for reimbursement, even asking to be repaid for services that weren’t rendered, according to […]

Filed Under: Cardiovascular, Diagnostics, Drug-Device Combinations, Featured, Legal News, Pharmaceuticals, Wall Street Beat Tagged With: advancedcardioservices, alere, cardiolink, mdinr, patienthomemonitoring, Roche, ushealthcaresupply

Alere forks over $33m to settle DOJ inquiry

March 23, 2018 By Sarah Faulkner

Abbott, Alere

The U.S. Dept. of Justice said today that Abbott‘s (NYSE:ABT) Alere (NYSE:ALR) agreed to pay $33.2 million to resolve allegations that it knowingly sold unreliable point-of-care diagnostic devices, causing hospitals to submit false claim to Medicare, Medicaid and other federal healthcare programs. The U.S. alleged that Alere sold materially unreliable Triage devices, which are designed to diagnose […]

Filed Under: Diagnostics, Featured, Legal News, Wall Street Beat Tagged With: alere

Abbott’s $5B acquisition of Alere set to close tomorrow

October 2, 2017 By Fink Densford

Abbott, Alere

Abbott (NYSE:ABT) said today it is looking to close its $5 billion acquisition of Alere (NYSE:ALR) tomorrow, saying it has received all regulatory clearances necessary. The Abbott Park, Ill.-based company said the acquisition will establish it as a “global leader in point of care testing,” which it sees as the fastest growing segment of the $50 billion in vitro […]

Filed Under: Business/Financial News, Featured, Mergers & Acquisitions Tagged With: abbott, alere

Shareholder suit against Alere stays alive

August 24, 2017 By Sarah Faulkner

Abbott, Alere

A Massachusetts federal judge dismissed most of a securities fraud class action case against Alere (NYSE:ALR) yesterday, saying that the complaint did not support the claim that Alere senior management had prior knowledge of the company’s alleged wrongdoing. U.S. district judge Patti Saris did, however, allow one part of the complaint to move into discovery. The […]

Filed Under: Diagnostics, Featured, Legal News, Mergers & Acquisitions, Wall Street Beat Tagged With: abbott, alere

Abbott launches tender offer for Alere in $5.3B merger

July 17, 2017 By Sarah Faulkner

Abbott, Alere

Abbott (NYSE:ABT) said today that it launched the tender offer for its $5.3 billion acquisition of diagnostics giant Alere (NYSE:ALR). The $402-per-share tender offer is slated to expire at midnight on August 11, Abbott said. The merger was amended in April, when Abbott agreed to pay $5.3 billion for Alere rather than the original price […]

Filed Under: Diagnostics, Featured, Mergers & Acquisitions, Wall Street Beat Tagged With: abbott, alere, quidel

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