MINNEAPOLIS – Coloplast, which has its U.S. headquarters here but is based in Denmark, has entered into a definitive agreement to acquire Coral Springs, Fla.-based Comfort Medical for $160 million in cash, the company announced Nov. 30.
WASHINGTON – President Elect Donald Trump has named Rep. Tom Price, R-Ga., a long-time champion of the HME industry and its efforts to reform Medicare’s competitive bidding program, as the next secretary of the Department of Health and Human Services, according to news reports.
WASHINGTON – The HME industry now has a vehicle in Congress for rolling back a second round of Medicare reimbursement cuts that went into effect in non-competitive bidding areas on July 1, AAHomecare reports.
WASHINGTON – A federal judge in Texas on Nov. 22 blocked a new overtime rule from going into effect on Dec. 1. The rule would require employers to pay overtime for more than 40 hours of work per week for all employees earning up to $913 per week or $47,476 per year. The current threshold: $455 per week or $23,660 per year. The judge, Amos L. Mazzant III of the Eastern District of Texas, ruled that the Obama administration had exceeded its authority by raising the overtime salary limit so significantly. The Labor Department says it “strongly disagreed” with the decision and was “considering all of our legal options,” raising the possibility of an appeal, according to The New York Times. While the injunction is only a temporary measure that suspends the rule until the judge can issue a decision on the merits, his language indicates he will likely strike down the rule, the Times reported.
YARMOUTH, Maine – Respondents to a recent HME Newspoll are split over whether 2017 will be a better year for the HME industry, with 51% saying they expect market conditions to worsen and 49% saying they’ll improve.