In brief: CMS considers dropping CMNs, CVS plans to buy Omnicare
BALTIMORE – CMS will host a Special Open Door Forum on May 27 to discuss eliminating CMNs and durable medical equipment identification forms. The current CMN forms are for oxygen, pneumatic compressions devices, osteogenesis stimulators, TENS devices, seat lift mechanisms, and section C continuation form; the current DIF forms are for external infusion pumps and enteral and parenteral nutrition. Comments on the forms can be emailed to email@example.com. To participate in the call: 1-866-501-5502, conference ID: 4585862
CVS nabs Omnicare for $12.7B
WOONSOCKET, R.I., and CINCINNATI – CVS Health Corp last week announced plans to acquire Cincinnati-based Omnicare for $12.7 billion in cash. The deal includes $2.3 billion of the pharmacy provider’s debt. “(The acquisition) creates new opportunities for us to extend our high-quality, innovative pharmacy programs to a broader population of seniors and chronic care patients as they transition across the care continuum,” said Larry Merlo, president and CEO of CVS Health, in a release. The deal will allow CVS to expand its presence in the specialty pharmacy business, as well as its ability to dispense prescriptions in assisted living and long-term care facilities. The transaction is subject to approval by Omnicare common stock holders and is expected to close by the end of 2015.
Numotion names new chief strategist
ROCKY HILL, Conn. – Jennie Hanson has been hired as Numotion’s Chief Strategy Officer. Hanson was previously a principal partner at The Physician Leadership Institute and has more than 25 years of experience in executive level profits and loss leadership roles. "Jennie is a dynamic business leader with over two decades of global healthcare leadership experience and extensive strategic expertise," said CEO Mike Swinford in a release. "With her impressive track record of innovative thinking and building businesses, Jennie brings a unique leadership skill set that will ultimately benefit our customers and our business.”
Roscoe adopts new pricing policy
STRONGSVILLE, Ohio – Roscoe Medical has introduced a minimum advertised price policy for its Viverity line of retail home healthcare products. With a MAP policy, HME providers can be confident that they won’t be underpriced by “bargain basement e-commerce retailers,” according to the company. “The goal with our MAP policy is to maintain margin integrity at the HME storefront level and ensure a level playing field across the board for our provider network,” stated Ryan Moore, vice president of sales, in a press release. Other benefits of the policy, according to the company: protecting the Viverity brand image and maintaining retail value to ensure healthy margins for providers. The policy will go into effect June 1 and apply to all advertising and marketing activities of each provider that purchases any Viverity-brand products.
Itamar expands sleep program to cardiologists
FRANKLIN, Mass. – Itamar Medical will begin offering a comprehensive sleep apnea management service to cardiologists, the medical device company announced May 16. The new offering comes on the heels of growing evidence of the link between cardiovascular disease and obstructive sleep apnea. The Total Sleep Solution program will use Itamar’s cloud-based IT platform to transmit WatchPAT test results directly to physicians and their staff. “The Total Sleep Solution is a growing business opportunity, addressing a significant unmet need in the cardiology space, while contributing to improve the clinical outcomes of cardiovascular procedures,” said CEO Gilad Glick in a release.
HASCO moves, presents at conference
DALLAS – HASCO Medical has relocated its corporate headquarters from Addison, Texas, to Dallas. “With our rapid growth and additions to our HASCO team, we simply reached capacity at our previous headquarters," said CFO Shane Jorgenson in a release. The wheelchair accessible van providersigned a 65-month lease for the 7,150-square-foot space…The company is also slated to give a presentation at the 2015 Marcum MicroCap Conference on May 28 at the Grand Hyatt Hotel in New York City. “I will discuss our success providing solutions for people with limited mobility,” said CEO Hal Compton in a release. The conference showcases companies with less than $500 million in market capitalization.
UK company finds U.S. distributor
EXTON, Pa. – Albert Medical Devices, maker of Melio, has formed a distribution partnership with ABC Medical, the company announced last week.The Liverpool, England-based company introduced Melio, a self-emptying leg bag system for catheters, to the U.S. market at Medtrade in April. “We are delighted to work in partnership with ABC Medical, as this gives more people across the U.S. access to the Melio self-emptying leg bag system through Medicare, Medicaid or private insurers,” said Matt Pearce, CEO of Albert Medical, in a release. “Since launching Melio in the U.S. earlier this year, the customer response has been fantastic.” The Exton, Pa.-based ABC Medical is a urological and continence care supplies provider.
Philips responds to ResMed study
MURRYSVILLE, Pa. – In the wake of a failed study by ResMed, Philips Respironics is recommending that clinicians not use Adaptive Servo-Ventilation (ASV) therapy for treating moderate to severe predominant central sleep apnea for patients with chronic heart failure, due to an increased risk of death in trial patients. ResMed announced May 13 that a phase III trial designed to assess whether treating moderate to severe predominant central sleep apnea with ASV therapy for patients with chronic heart failure found a 10% per year mortality rate of trial patients, vs. 7.5% for the control group. Philips is working with ResMed to better understand study data, according to a release.
Team SCA sets sail with senior
PHILADELPHIA – SCA, maker of TENA, has partnered with Wish of a Lifetime to fulfill lifelong wishes of three seniors who have overcome challenges in their daily lives, according to a press release. The first wish was granted May 15 to 90-year-old Shirley Paine, whose wish was to sail with Team SCA, an all-female sailing team. The Kingstown, R.I., resident met with team members, sailed Newport Harbor and watched Team SCA compete in the Pro-Am race. Wish of a Lifetime is a non-profit devoted to fostering respect and appreciation for seniors. After experiencing a wish, 93% of recipients report a 93% quality of life improvement, according to the release.
PFQC launches ‘Faces Behind the Red Tape’
WATERLOO, Iowa – People for Quality Care has launched a new online series called “Faces Behind the Red Tape” to document the impact of audits on Medicare beneficiaries. The first chapter in the series features Sandra, a caregiver struggling to get a wheelchair for her mother. “Sandra was the inspiration for this series,” stated Lalaina Rabary, a communications and marketing specialist for PFQC, a division of The VGM Group. “When I spoke with her, I knew right away that we needed to share her story.” PFQC hopes the series will raise awareness among Medicare beneficiaries that audits are often the reason in takes weeks, if not months, to get the equipment they need. “A lot of beneficiaries we talk to don’t know anything about audits,” stated Kelly Turner, director of advocacy for PFQC.
People in the news: Matthew Monaghan, Harvey Diamond
Elyria, Ohio-based Invacare has announced that its shareholders have elected to the board Matthew Monaghan, the company’s president and CEO, and Clifford Nastas, a director of the Dan T. Moore Company and president of a group of its automotive and advanced materials operating companies. Shareholders have also appointed Monaghan as chairman of the board. The interim chairman, Dr. C. Martin Harris, will return to his role as independent lead director…EY has announced that Harvey Diamond, chairman of the board and CEO of Port Washington, N.Y.-based Drive Medical, is a finalist for the EY Entrepreneur of the Year Award for 2015. The awards program recognizes entrepreneurs who demonstrate excellence and success in areas like innovation, financial performance and personal commitment to their businesses and communities. EY will announce winners at a special gala event at the New York Marriott Marquis on June 16.