It’s like the wild west. With no sheriff acting to impose law and order, many laboratory companies are now deploying a wide variety of new scams to gain new business. The new scams have emerged in the wake of the collapse and bankruptcy of Health Diagnostics Laboratory (see the bottom of this story for links to previous coverage)…
Bankruptcy Judge Approves Sale Of Embattled Diagnostic Lab Company
September 18, 2015 by 1 Comment
A federal bankruptcy judge has approved the sale for $37.1 million of the once high-flying Health Diagnostics Laboratory to a new lab company, True Health Diagnostics. True Health has a business model that mimic’s HDL’s and is owned by some of the same players who helped create and who owned HDL. Health Diagnostic Laboratory (HDL) was started in 2009. By 2012 the…
Inside The Scandal: Profit And Greed At An Embattled Laboratory Company
April 21, 2015 by Leave a Comment
How does a clinical laboratory company grow in a few short years from nothing to more than $400 million in revenue and over $100 million in profit? Since the same company just settled with the DOJ for as much as $100 million, it’s reasonable to suspect that growth was probably not entirely legitimate. Now new information,…
Embattled Lab Nears Settlement With Government Over Kickbacks
March 24, 2015 by Leave a Comment
Health Diagnostic Laboratory Inc, the embattled lab company, is nearing a $50 million settlement with the Justice Department, according to a Wall Street Journal story by John Carreyrou. As previously reported here, the federal government is investigating HDL for giving kickbacks to physicians who use the company’s tests. Additional allegations suggest a broader pattern of serious misconduct based on questionable sales,…
More Turmoil For Troubled Medical Laboratory Company
January 12, 2015 by Leave a Comment
Problems continue to accumulate for the deeply troubled medical laboratory company Health Diagnostic Laboratory. Following several years of spectacular growth, in which the company grew to $400 million in annual revenue, the company last year began an equally spectacular implosion when it became known that the federal government was investigating the company for giving kickbacks to physicians to use the company’s tests….
2014 Dubious Innovations In Cardiology
December 23, 2014 by Leave a Comment
Dubious Innovative Device: Renal Denervation Dubious Innovative Business Strategy: Health Diagnostics Laboratory Dubious Innovations In Leadership (Tie): The European Society of Cardiology and The Institute of Medicine Dubious Innovative Breakthrough Therapy That Never Actually Breaks Through Anything (repeat winner): Cardiac Stem Cell Therapy Click here to read the full post on Forbes. …
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