7/103 sources · 3 publishersUpdated Nov 7, 18:22 UTC
Quest Diagnostics settles federal kickback case for $13 million
Quest Diagnostics agreed to pay roughly $13 million to resolve U.S. Justice Department allegations that it provided free New York Giants tickets and other entertainment to health‑care executives in exchange for laboratory‑service referrals. The settlement also includes a five‑year corporate integrity agreement with the HHS Office of Inspector General. Quest denies any wrongdoing but said the agreement ends the matter.
Why it matters
The company will incur a cash outflow of about $13 million and will be subject to ongoing compliance monitoring for five years, which could affect its operating costs and risk profile.
Key facts
- 1Quest Diagnostics paid $13,014,576 plus interest to settle the allegations. wrnjradio.com
- 2The settlement covers conduct between July 25 2013 and August 3 2022. wrnjradio.com
- 3The company entered a five‑year corporate integrity agreement with the HHS Office of Inspector General. morningstar.com
- 4Whistleblowers are slated to receive nearly $2.5 million from the settlement. wrnjradio.com
- 5Quest denies any wrongdoing but agreed to the settlement to resolve the matter. morningstar.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.