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Stock Market & Financial Investment News

News Breaks
July 28, 2014
15:32 EDTVASCVascular Solutions to pay $520K to resolve false claims charges
Vascular Solutions has agreed to pay $520,000 to resolve allegations that it caused false claims to be submitted to federal health programs by marketing a medical device for the ablation of perforator veins without FDA approval and despite the failure of its own clinical trial, the Justice Department announced. The allegations resolved by the settlement were raised in a lawsuit filed against VSI by DeSalle Bui, a former sales representative at VSI, under the qui tam, or whistleblower, provisions of the False Claims Act, which allow private citizens with knowledge of false claims to bring civil actions on behalf of the government and to share in any recovery.
News For VASC From The Last 14 Days
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January 28, 2015
08:21 EDTVASCVascular Solutions to purchase additional manufacturing facility for $2.7M
Vascular Solutions announced that it has entered into an agreement to acquire a 26,000-square-foot building located at 6420 Sycamore Court North in Maple Grove, Minnesota. The purchase price will be $2.7M and funded with existing cash. The closing is expected to take place in early March, subject to customary closing conditions. The building is located across the street from Vascular Solutions' existing manufacturing facility and headquarters building. The newly-acquired facility will be used initially for the company's component manufacturing operations, with future use planned for the commercial scale production of freeze-dried plasma which is being developed in collaboration with the United States Army. Upon closing of the acquisition, Vascular Solutions intends to occupy approximately 17,500 square feet of the building, with an existing tenant expected to continue to occupy the remaining 8,500 square feet.
January 15, 2015
11:47 EDTVASCVascular Solutions management to meet with Sidoti
Meeting to be held in New York on January 22 hosted by Sidoti.
January 14, 2015
09:49 EDTVASCVascular Solutions management to meet with Sidoti
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