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NeoGenomics Announces Settlement of Voluntary Disclosure to OIG-HHS
NeoGenomics Announces Settlement of Voluntary Disclosure to
About this update from Neogenomics, Inc.
NeoGenomics, Inc. (the “Company”) (NASDAQ: NEO), a leading provider of oncology diagnostic solutions that enable precision medicine, today announced that it has finalized a civil settlement with the Department of Justice (“DOJ”) on behalf of the Office of Inspector General of the U.S. Department of Health and Human Services (“OIG”) resolving an investigation concerning consulting services provided by the Company to certain health care providers for laboratory testing services as part of its Laboratory Collaboration Initiative program. The Company self-disclosed the matter to the OIG in November 2021. As the DOJ acknowledged in the settlement agreement, the Company cooperated with the government’s investigation into the matter. The Company has agreed to pay $9,813,260 plus interest at a rate of 4.250% per annum from January 16, 2026, to the United States to resolve the matter. The Company previously disclosed in its SEC filings that it had accrued a reserve of $11.2 million to cover potential damages and liabilities associated with the investigation. Tony Zook, Chief Executive Officer, commented, “We are pleased to resolve this legacy matter. The resolution of this voluntary disclosure will allow the Company to continue moving forward with its vision and commitment to advancing personalized cancer care.” The Settlement Agreement is neither an admission of liability by the Company nor a concession by the United States that its claims are not well founded. About NeoGenomics NeoGenomics, Inc. is a premier cancer diagnostics company specializing in cancer genetics testing and information services. We offer one of the most comprehensive oncology-focused testing menus across the cancer continuum, serving oncologists, pathologists, hospital systems, academic centers, and pharmaceutical firms with innovative diagnostic and predictive testing to help them diagnose and treat cancer. Headquartered in Fort Myers, FL, NeoGenomics operates a network of CAP-accredited and CLIA-certified laboratories for full-service sample processing and analysis services throughout the US and a CAP-accredited full-service sample-processing laboratory in Cambridge, United Kingdom. Forward-Looking Statements This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “can,”...