CardioNet up for sale?

Categories: Latest News.

CardioNet has hired investment firm Lazard Freres to evaluate its options, which likely include consideration of a sale.  Their operating revenues have been badly hurt with the recent 33% fee reduction in Medicare reimbursement administered by Highmark Medicare Services (HMS) when the Center for Medicare Services (CMS) did not establish a national mobile cardiovascular telemetry reimbursement rate for 2010 (background from New York Times website).  This is also less than two years after CardioNet’s IPO.  Given this background, will the company attract bidders (GE just announced a focus on healthcare and will have US$26 billion from the NBCU sale to Comcast), and does this presage the future of reimbursement for eHealth companies with US ‘healthcare reform’?  mobihealthnews article  (Link to Wall Street Journal unfortunately for subscribers only)