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Ensign Group Inc Announces Settlement With U.S. Department Of Justice


Monday, 22 Apr 2013 04:00pm EDT 

Ensign Group Inc announced that it has reached a settlement agreement in principle with the U.S. Department of Justice to resolve and conclude the previously disclosed investigation and ancillary claims which have been pending since 2006. In connection with the settlement, Ensign expects to enter into a corporate integrity agreement with the Office of Inspector General-HHS, and make a single lump-sum payment to the government to resolve allegations that Ensign was overpaid by federal healthcare programs. In anticipation of the settlement, the Company recorded a $15 million charge in the fourth quarter of 2012, and will increase its reserve by an additional $33 million in the first quarter of 2013, representing a total reserve of $48 million to satisfy the tentative settlement obligation. The Company expects to remit the alleged settlement amount to the government in the second or third quarter of 2013. 

Company Quote

38.72
0.84 +2.22%
31 Oct 2014