HRC - iRhythm falls after Hill-Rom attempts to exit from planned Bardy purchase
Hill-Rom (HRC) is trying to exit its planned $375m purchase of Bardy Diagnostics Inc. as it believes that a "material adverse effect" occurred due to the unexpected unexpected Novitas reimbursement rate reduction.BardyDx has advised Hill-Rom that it has filed a complaint against Hill-Rom in the Delaware Court of Chancery. Recall that Bardy competitor iRhythm (IRTC) declined 33% in late January after the Novitas news was released on Holter monitor device.IRhythm dropped 2.1% today.Recall Feb. 5. Hill-Rom limits comments on recent Bardy deal on reimbursement issues.
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iRhythm falls after Hill-Rom attempts to exit from planned Bardy purchase