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Updated: Reimbursement Questions Jeopardize Hillrom/Bardy Merger

 
• By Reed Miller

Hillrom is reconsidering its planned $375m acquisition of Bardy Diagnostics because of Novitas' plan to cut Medicare reimbursement for extended cardiac monitoring. Bardy is suing to complete the deal.

Business deal failure concept as two businessmen on a road bridge that is breaking down and disconnecting
• Source: shutterstock.com

[Update: On 12 July, the Delaware Court of Chancery ordered Hillrom to proceed with its proposed acquisition of Bardy Diagnostics, denying Hillrom's claim of a Material Adverse Event under the terms of the acquisition agreement. The companies completed the deal on 6 August, making Bardy a wholly owned subsidiary of Hillrom.

"Following the Delaware Court of Chancery’s Ruling two weeks ago, we thoroughly explored and assessed a variety of strategic options....

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