Michael Barbella, Managing Editor02.11.23
Takeovers and takedowns captivated MPO website visitors this past week.
MO SCI Corporation and Abbott each drove significant site traffic via their respective acquisitions, as did two medical equipment supply executives who cheated the U.S. government out of millions of dollars.
MO SCI garnered the most page views with its acquisition of 3M’s Advanced Materials business (previously known as 3M Ceradyne), based in Seattle. The acquisition included more than 350 pieces of specialized equipment and all related intellectual property. The technology, IP and asset purchase significantly expands MO-SCI’s capabilities and manufacturing capacity for customers in its five core markets. Founded in 1985, MO SCI’s expertise encompasses developing glasses for healthcare; glasses for high-temperature sealing; Metal Oxide Varsitors; glasses for multi-layer ceramic capacitors; and specialty glasses for thick film conductive paste.
Abbott's latest deal attracted quite an online following as well. The company is purchasing Cardiovascular Systems Inc. (CSI) for $890 million, a move that company executives say will add new, complementary technologies to its vascular device offerings. CSI developed and marketed an atherectomy system used in treating peripheral and coronary artery disease. The transaction is expected to be neutral to Abbott's recently issued 2023 ongoing EPS guidance.
A very different type of dealing made Ikechukwu Udeokoro and Ayodeji Fasonu popular with digital congregates this past week. A federal jury convictedthe pair for scheming to defraud Medicare Advantage and Medicaid managed care plans of more than $3.8 million. Udeokoro, owner of Bronx, N.Y.-based Meik Medical Equipment and Supply—a durable medical equipment supplier—and Fasonu (Meik’s manager) billed Medicare Advantage and Medicaid managed care plans for hundreds of expensive patient support systems that were never provided to patients or caregivers. Between December 2010 and February 2014, Udeokoro and Fasonu fraudulently billed Medicare Advantage and Medicaid managed care plans more than $3.8 million and were paid approximately $2.4 million. The pair face a maximum 10-year prison term at their mid-August sentencing.
Also commanding virtual attention in the first full week of February was the clinical debut of Ethicon's MONARCH Platform for Urology, and the sweet future prospects of Japan's diabetes care market.
MO SCI Corporation and Abbott each drove significant site traffic via their respective acquisitions, as did two medical equipment supply executives who cheated the U.S. government out of millions of dollars.
MO SCI garnered the most page views with its acquisition of 3M’s Advanced Materials business (previously known as 3M Ceradyne), based in Seattle. The acquisition included more than 350 pieces of specialized equipment and all related intellectual property. The technology, IP and asset purchase significantly expands MO-SCI’s capabilities and manufacturing capacity for customers in its five core markets. Founded in 1985, MO SCI’s expertise encompasses developing glasses for healthcare; glasses for high-temperature sealing; Metal Oxide Varsitors; glasses for multi-layer ceramic capacitors; and specialty glasses for thick film conductive paste.
Abbott's latest deal attracted quite an online following as well. The company is purchasing Cardiovascular Systems Inc. (CSI) for $890 million, a move that company executives say will add new, complementary technologies to its vascular device offerings. CSI developed and marketed an atherectomy system used in treating peripheral and coronary artery disease. The transaction is expected to be neutral to Abbott's recently issued 2023 ongoing EPS guidance.
A very different type of dealing made Ikechukwu Udeokoro and Ayodeji Fasonu popular with digital congregates this past week. A federal jury convictedthe pair for scheming to defraud Medicare Advantage and Medicaid managed care plans of more than $3.8 million. Udeokoro, owner of Bronx, N.Y.-based Meik Medical Equipment and Supply—a durable medical equipment supplier—and Fasonu (Meik’s manager) billed Medicare Advantage and Medicaid managed care plans for hundreds of expensive patient support systems that were never provided to patients or caregivers. Between December 2010 and February 2014, Udeokoro and Fasonu fraudulently billed Medicare Advantage and Medicaid managed care plans more than $3.8 million and were paid approximately $2.4 million. The pair face a maximum 10-year prison term at their mid-August sentencing.
Also commanding virtual attention in the first full week of February was the clinical debut of Ethicon's MONARCH Platform for Urology, and the sweet future prospects of Japan's diabetes care market.