Alere Provides Update on Arriva Medical
WALTHAM, Mass., Jan. 4, 2017 /PRNewswire/ -- Alere Inc. (NYSE: ALR), a global leader in rapid diagnostic tests, today provided an update in connection with Arriva Medical’s complaint filed on December 28, 2016, against the Centers for Medicare & Medicaid Services (CMS):
We are pleased that CMS formally relented in its efforts to terminate Arriva’s competitive bidding contract while the administrative appeals process pertaining to the revocation of the supplier number proceeds, rendering our request for a temporary restraining order unnecessary. We look forward to further advancing our arguments regarding the reinstatement of Arriva’s billing number and other matters before the Federal District Judge at the next hearing scheduled for February 8, 2017.
In addition, as previously announced, on December 27, 2016, Alere filed an appeal for an administrative law judge (ALJ) hearing seeking to permanently reinstate Arriva’s Medicare billing status. An order was issued today by the Administrative Law Judge assigned to the case requiring the parties’ initial briefings to be completed by January 18, 2017.
Alere has previously made public a fact sheet providing additional information regarding Arriva’s relationship with CMS. The fact sheet can be accessed on Alere’s website at http://news.alere.com/~/media/Files/A/Alere-Newsroom-V2/press-release/Arriva_Medical_and_CMS_Fact_Sheet_11142016_FINAL.pdf.
King & Spalding LLP is serving as legal counsel to Alere in connection with the Arriva matter.
About Alere
Alere believes that when diagnosing and monitoring health conditions, Knowing now matters. Alere delivers reliable and actionable information by providing rapid diagnostic tests, enhancing clinical and economic healthcare outcomes globally. Headquartered in Waltham, Mass., Alere focuses on rapid diagnostics for cardiometabolic disease, infectious disease and toxicology. For more information on Alere, please visit www.alere.com.
Cautionary Statement Regarding Forward-Looking Statements
This communication (and those referenced in this communication) contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Arriva’s commitment to its patients and working with the Medicare program; the timing for a hearing by the federal court with respect to certain motions made by the Company; the potential impact of the revocation of Arriva’s Medicare enrollment, including with respect to the risks to beneficiaries and the National Mail Order DTS program and CMS policy; Arriva will continue to furnish covered services to beneficiaries without any assurance of reimbursement as set forth in the fact sheet and any other statements about the future expectations, beliefs, goals, plans or prospects of the board or management of the Company. Readers can identify these statements by forward-looking words such as “may,” “could,” “should,” “would,” “intend,” “will,” “expect,” “anticipate,” “believe,” “estimate,” “continue,” “goal” or similar words. A number of important factors could cause actual results of Alere and its subsidiaries to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to the possibility that the ALJ may determine the Company’s appeal in a manner adverse to the Company, the possibility that the U.S. District Court for the District of Columbia may make a ruling in the case that is adverse to the Company, as well as the risk factors detailed in Part I, Item 1A, “Risk Factors,” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 (as filed with the Securities and Exchange Commission on August 8, 2016) and other risk factors identified herein or from time to time in our periodic filings with the SEC. Readers should carefully review these risk factors, and should not place undue reliance on our forward-looking statements. These forward-looking statements are based on information, plans and estimates at the date of this communication. We undertake no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.
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SOURCE Alere Inc.
