HRC - iRhythm talks with Novitas may not be going well after Hill-Rom/Bardy news analyst says

Irhythm (IRTC) talks with Novitas on reimbursement rates for ECG monitoring may not work out in IRTC's favor after news that Hill-Rom (HRC) is attempting to get out of its $375m purchase of Bardy, also a maker of an ECG monitoring device, according to Oppenheimer.The Hill-Rom-Bardy breakup suggests that something happened in the Novitas meetings that is "incongruent" with what IRTC is stating, according to Oppenheimer analyst Suraj Kalia.Kalia also points out that recent 10-K by IRTC raises a going-concern issues due to Novitas rate cuts.Expects that $100-$150 rate is more likely after all the negotiations."Even then, HRC decided to walk away, raising questions about validity of this business model (one of our key concerns for IRTC)," Kalia writes.IRTC remains perform rates at Oppenheimer.IRTC fell 4.2%.Recall Feb. 2, iRhythm after Novitas update: Investors urged to ‘prepare for a new reality’

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iRhythm talks with Novitas may not be going well after Hill-Rom/Bardy news, analyst says