NeoGenomics Announces Settlement of Voluntary Disclosure to OIG-HHS
NeoGenomics, Inc. (the “Company”) (NASDAQ: NEO), a leading provider of oncology diagnostic solutions that enable precision medicine, today announced that it has finalized a civil settlement with the Department of Justice (“DOJ”) on behalf of the Office of Inspector General of the U.S. Department of Health and Human Services (“OIG”) resolving an investigation concerning consulting services provided by the Company to certain health care providers for laboratory testing services as part of its Laboratory Collaboration Initiative program. The Company self-disclosed the matter to the OIG in November 2021. As the DOJ acknowledged in the settlement agreement, the Company cooperated with the government’s investigation into the matter.
The Company has agreed to pay $9,813,260 plus interest at a rate of 4.250% per annum from January 16, 2026, to the United States to resolve the matter. The Company previously disclosed in its SEC filings that it had accrued a reserve of $11.2 million to cover potential damages and liabilities associated with the investigation.
Tony Zook, Chief Executive Officer, commented, “We are pleased to resolve this legacy matter. The resolution of this voluntary disclosure will allow the Company to continue moving forward with its vision and commitment to advancing personalized cancer care.”
