GE Healthcare Agrees to $30 Million Settlement
01.01.70
GE Healthcare has finally faced a fine of $30 million, which the company has now paid to the United States along with the interest figures to settle all allegations that were placed over the GE Healthcare as per the False Claims Act, confirms the Justice Department.
GE Healthcare actually got hold of Amersham Health Inc. in 2004. The above charges are also associated with the same company for violating the False Claims Act.
According to reports, Medicare actually overpaid the company for Myoview, a radiopharmaceutical that is used in certain cardiac diagnostic imaging procedures.
Myoview in medical industry is generally made available in the form of multi-dose vials of the powder. These doses are then mixed with powder containing radioactive agents by nuclear pharmacies to prepare individual dose.
After all the action, the individual doses are injected into patients as part of a cardiac imaging procedure. Medicare has confirmed that it has paid the company for Myoview in several parts based on the number of doses available from vials of Myoview.
Source: French Tribune
GE Transportation Expands Manufacturing in Grove City
01.01.70
GROVE CITY, Pa., Dec 27, 2011 (BUSINESS WIRE) --
--Will create up to 150 new jobs by early 2013
--Additional $37 million in manufacturing upgrades to existing facility
GE Transportation, the world's leading maker of rail, mining and
transportation-related products, today announced plans to establish a
new production facility in Grove City, Pa. in order to meet accelerating
demand for remanufacturing services. The company will invest
approximately $35 million to build capacity at a new diesel engine
remanufacturing plant. GE is investing an additional $37 million in 2011
and 2012 in the existing plant for a combined investment of $72 million
in manufacturing in Grove City.
The new facility will be located at an existing site where GE
anticipates employing up to 250 employees by early 2013, including
approximately 100 current GE employees who will transfer from the
current Grove City facility. The Company plans to hire approximately 150
additional employees by early 2013. Production is scheduled to begin by
the end of 2012.
Source: MarketWatch (press release)