ION Settles 5+ Year Investigation
NEWPORT BEACH, Calif. (PRWEB) March 28, 2018 -- Integrated Oncology Network Holdings, LLC (“ION”), the parent company of SightLine Health, LLC along with other SightLine subsidiaries (”SightLine”), announced today that they have reached final agreement to end a more than 5 year investigation by the Office of Inspector General and to settle a civil litigation matter brought by a Qui Tam Whistleblower in November 2016.
The government investigation and the subsequent Whistleblower lawsuit alleged that SightLine engaged in conduct that caused the submission of false claims to the United States based on the manner in which SightLine allegedly offered and provided kickbacks in the form of investment opportunities and ownership dividends in independent, turnkey radiation oncology clinics.
Although ION disputes the DOJ’s allegations, ION elected to settle in order to avoid the cost and uncertainty of continued litigation, as well as the distraction that this investigation and litigation were having on the company. This settlement reflects ION’s disagreement with the claims and does not include any admission or determination of any wrongdoing.
“This settlement allows ION to eliminate the cost and distraction of this matter, which has been the subject of an on-going five year old investigation into SightLine, and the SightLine management team that predates ION’s acquisition of SightLine,” stated Jeffrey Goffman, CEO of ION. “Most important, ION’s core values are cemented around conducting ourselves with integrity and in compliance with all healthcare laws and regulations as evidenced by the dedication to our existing corporate compliance program and our longstanding policies and procedures”.
Under the terms of this civil settlement, ION and SightLine will pay the United States up to $11.5 million over a period of five years, payable as $500,000 annually plus interest. In addition, there is an additional one-time payment of $9 million at the time of a recapitalization of ION. In addition, ION and Sightline have agreed to enter into a Corporate Integrity Agreement with the OIG, which is customary at the conclusion of these types of government healthcare investigations. The CIA provides that the company will maintain, over a five-year term, a corporate compliance program that includes oversight, reporting, policy, screening and monitoring obligations. 5Many of the requirements in the CIA have already been implemented as part of ION’s existing compliance program.
About ION
Integrated Oncology Network Holdings, LLC and its subsidiaries (“ION”) is a radiation oncology management and cancer center development company that partners with hospitals and physicians that seek management expertise. ION provides strategic solutions, development for cancer centers, financing and management services with expertise in radiation oncology operations including reve-nue cycle & compliance. For more information on ION, please visit our web site at http://www.ion-llc.com.
Forward-Looking Statements
Statements in this Press Release that are not historical facts constitute “forward-looking statements.” Any statements contained herein which are not historical facts or which contain the words “antici-pate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “should,” and similar expres-sions are intended to identify forward-looking statements. Such statements reflect the current view of ION with respect to future events and are subject to certain risks, uncertainties and assumptions, including, but not limited to, the risk that ION may not be able to implement its growth strategy in the intended manner, including the ability to identify, finance, complete joint venture opportunities, risks regarding currently unforeseen competitive pressures and risks affecting ION’s industry, such as increased regulatory compliance and changes in regulatory requirements, changes in payor reim-bursement levels. Should one or more of those risks or uncertainties materialize, or should underly-ing assumptions prove incorrect, actual results may vary materially from those described herein.
Wendy Gubman, Integrated Oncology Network, http://www.ion-llc.com, +1 949-207-3111 Ext: 111, [email protected]
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