Share:
CHICAGO, March 1, 2021 /PRNewswire/ Hillrom (NYSE:HRC) today provided an update on its planned acquisition of Bardy Diagnostics, Inc. (BardyDx), which it previously announced on January 19, 2021.
On January 29, 2021, a Medicare Administrative Contractor, Novitas Solutions, published new Category 1 reimbursement rates applicable to the Current Procedural Terminology (CPT) codes for the long-term cardiac monitoring category, including CPT codes 93241, 93243, 93245 and 93247. As a result of the unexpected Novitas reimbursement rate reduction, Hillrom has asserted that a Company Material Adverse Effect has occurred, and therefore the closing conditions have not been satisfied.
BardyDx has advised Hillrom that it has filed a complaint against Hillrom in the Delaware Court of Chancery. Hillrom remains committed to creating long-term shareholder value and will provide further updates as appropriate.
Hillrom Provides Update on Planned Acquisition of Bardy Diagnostics, Inc
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Bookings are very busy for the summer - holiday parks report strong demand for staycations
independent.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from independent.ie Daily Mail and Mail on Sunday newspapers.