Precision Diagnostics Agrees to Enter into a Corporate Integrity Agreement

SAN DIEGO, Oct. 2, 2024 /PRNewswire/ -- Precision Diagnostics, a leader in innovative diagnostic solutions, today announced that it has reached settlements with the Department of Justice (DOJ) and state attorney general's offices and has entered into a Corporate Integrity Agreement (CIA) with the Office of Inspector General for the Department of Health and Human Services (OIG). These agreements underscore Precision Diagnostics' unwavering commitment to compliance, transparency, and the highest standards of patient care.

Under the settlement agreements, Precision Diagnostics will pay $27 million to resolve an investigation that has been pending for more than five years. Settlement was reached without any admission of wrongdoing, and Precision Diagnostics continues to maintain that it upholds the highest standards and complies with all rules and regulations governing its business practices. The government's rules and regulations governing the provision of care are highly complex and frequently ambiguous and, in the areas the government questioned, Precision Diagnostics' practices, such as the appropriate use of "custom profiles" and point of care testing, actually enhanced patient care and complied with the government's guidance. The settlement agreements reflect the Company's desire to avoid the expense of future litigation and, most importantly, to put the matter behind it and focus on its core mission of providing exceptional patient care.

Precision Diagnostics has chosen to demonstrate its continued commitment to its core mission by entering a five-year CIA. The CIA marks a significant step in reinforcing Precision Diagnostics' dedication to ethical practices and regulatory compliance. As part of the CIA, Precision Diagnostics will implement enhanced oversight and rigorous compliance measures to ensure adherence to all regulatory requirements.

"We are fully committed to maintaining the highest standards of integrity and patient care," said Miguel Gallego, CEO of Precision Diagnostics. "Entering into this Corporate Integrity Agreement is a proactive step to strengthen our compliance framework and enhance our operational practices. We view this agreement as an opportunity to improve and ensure that we continue to provide the highest quality diagnostic services and fulfill our mission to ensure that the patient, provider and payer all benefit from our services."

About Precision Diagnostics

Precision Diagnostics is a leading provider of cutting-edge diagnostic solutions, committed to empowering healthcare professionals with accurate and timely information. Specializing in advanced laboratory testing and innovative diagnostic tools, our mission is to enhance patient care by delivering precise and reliable results. With a focus on quality, innovation, and customer service, Precision Diagnostics partners with healthcare providers across the nation to improve outcomes and support the evolving needs of the medical community. Our dedication to excellence ensures that we remain at the forefront of diagnostic technology, helping to shape the future of healthcare.

**Media Contact**
Heather Kauffman
Chief Compliance Officer
800-635-6901
[email protected]
For more information, visit our website at www.precisiondxlab.com

SOURCE Precision Diagnostics