The healthcare industry has taken many hits recently , and it took yet another hit this week after a CVS subsidiary filed for chapter 11 bankruptcy following a near $1 billion lawsuit for filling invalid prescriptions.
Omnicare , filed for bankruptcy Monday, Sept. 22, after being ordered to pay $949 million in federal court, filings show.
The Department of Justice found Omnicare liable for “fraudulently dispensing drugs without valid prescriptions to elderly and disabled people in assisted living facilities and other residential long-term care facilities,” in April.
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After a four-week trial, it was found that Omnicare billed Medicare, Medicaid, and TRICARE for over 3