Could this be the end of Atherotech?

http://www.behrmancap.com/behrman-capital-acquires-atherotech/
The Atherotech recapitalization was led by Madison Capital Funding and Regions Bank, and included a new term loan and revolving credit facility. Proceeds from the recapitalization were used, along with cash on hand, to repay existing debt and pay a cash dividend to shareholders.
NEW YORK, NY — January 13, 2011 — Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that it has acquired Atherotech, a Birmingham, Alabama-based provider of cardiometabolic testing services that offers the VAP (Vertical Auto Profile) advanced lipid profile test. The transaction closed on December 23, 2010. The equity capital for the acquisition came from Behrman Capital IV L.P., with debt financing provided by MidCap Financial.

Developed by Jere Segrest, M.D., director of the Atherosclerosis Research Unit at the University of Alabama, Birmingham, Atherotech’s patented VAP Test provides direct, detailed measurements of the lipid subclasses that cause cardiovascular disease. VAP technology more accurately identifies people at risk of heart disease than the traditional cholesterol tests developed in the 1970s, and does so at no significant additional cost. The profiles obtained by the test also allow physicians to create individualized treatment plans while continuing to track patients’ progress in battling heart disease. Atherotech provides its unique testing services to physicians, hospitals, clinics, and other laboratories throughout the United States.Robert Flaherty, an Operating Partner at Behrman Capital, will serve as Chairman of the Board of Directors at Atherotech. Mr. Flaherty has more than 35 years of operating experience in the healthcare field, with particular expertise in the clinical laboratory environment. He previously served as President and CEO of Athena Diagnostics, Inc., a Behrman Capital portfolio company that was sold to Fisher Scientific in 2006. During his 17 year tenure with the company, he grew Athena’s revenues from $3 million to $110 million and profits from zero to $50 million.Goodwin Procter LLP acted as legal adviser to Behrman Capital for the transaction. Bradley Arant Boult Cummings LLP acted as legal adviser to Atherotech. Morgan Keegan & Company, Inc.’s Shattuck Hammond healthcare investment banking division acted as financial advisor to Atherotech.
http://www.midcapfinancial.com/news/LL-Atherotech3_Press_Release_6-28-2013_-3-.pdf

 

list people help take us down or save us
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=467376

 

this whole thing smells.

 

Atherotech, Inc. INSIDERS ON Board Members
Name (Connections) Relationships Title Age
James McClintic 13 Relationships Chief Executive Officer, President and Director --
Michael Cobble M.D. 13 Relationships Chief Medical Officer and Member of Medical Advisory Board --
Other Board Members on Board Members
Name (Connections) Relationships Type of Board Members Primary Company Age
Robert Flaherty 30 Relationships Chairman of the Board Behrman Capital 69
Peter Jones M.D., FACP,FNLA 23 Relationships Member of Advisory Board Atherotech, Inc. --
Eliot Brinton M.D. 13 Relationships Member of Advisory Board Atherotech, Inc. --
Grant Behrman 15 Relationships Member of the Board of Directors Behrman Capital 61
Michael Davidson M.D., Facc., Facp. 88 Relationships Member of Advisory Board Omthera Pharmaceuticals, Inc. 58
Charles Reasner II, M.D., FACE, FACP 13 Relationships Member of Advisory Board Atherotech, Inc. --
Peter Toth M.D., Ph.D., FAAFP, FICA, FAHA, FNLA, FCCP, FACC 13 Relationships Member of Advisory Board Atherotech, Inc. --
Prakash Deedwania M.D., FACC, FAHA, FACP, FCCP 13 Relationships Member of Advisory Board Atherotech, Inc. --
Robert Wild M.D., Ph.D., MPH 13 Relationships Member of Advisory Board Atherotech, Inc. --
John Nelson M.D., FACC 13 Relationships Member of Advisory Board Atherotech, Inc. --
Steven Jones M.D., F.A.C.C., A.B.C.L. 13 Relationships Member of Advisory Board Atherotech, Inc. --
Peter McCullough M.D.,M.P.H.,F.A.C.C.,F.A.C.P.,F.C.C.P.,F.A.H.A.,F. 52 Relationships Member of Advisory Board

 

In January, HDL discontinued its relationship with BlueWave, Carreyrou wrote. That same month, BlueWave filed a $205 million suit against HDL, according to Richmond BizSense.

Forbes reported last month that federal negotiators will reach similar agreements with other lab companies named in the WSJ article in September. Those labs are Atherotech Diagnostics Inc. in Birmingham, Alabama, and Boston Heart Diagnostics Corp. in Framingham, Massachusetts, the WSJ reported. Each of these labs denied the allegations, and each said it was cooperating with investigators, the WSJ reported.

Since the federal announcement Thursday, CEOs of several clinical laboratory organizations expressed disappointment at the meager amount of the settlement federal prosecutors negotiated. One of the clinical lab companies is alleged to have paid hefty inducements to physicians and it then received $396 million in Medicare payments for just two years, they said. Yet, under the terms of this settlement, the lab company will pay $47 million to $100 million back to the federal government.

When weighed against the $395 million in Medicare payments (plus the additional Medicare revenues paid in other years), the settlement means the owners and executives of this lab company still “came out millions of dollars ahead” as a result of their willingness to create schemes that induced physicians to order tests that federal prosecutors consider to be medically unnecessary under existing law, the CEOs said.



Read more: Health Diagnostic Laboratory and Singulex to Pay $48.5M to Settle Fraud Charges Involving Kickbacks and Unnecessary Testing as Feds Sue Two More Medical Labs and Three Executives on Similar Charges | Dark Daily http://www.darkdaily.com/health-diagnostic-laboratory-and-singulex-to-pay-48-5m-to-settle-fraud-charges-involving-kickbacks-and-unnecessary-testing-as-feds-sue-two-more-medical-labs-and-three-executives-on-similar-charges-413#ixzz41BeuEvFC

 

so what?? What's your point? These MD are researchers not clinical MD.

 

As a point of clarification - the MD's who were part of the Medical Board (2010-2013) were not part of the corporate board nor shareholders of the company. They did not engage in any financial, corporate or business issues. Their interaction was because of their expertise as academics, researchers and clinicians. They interacted for medical opinions on outcome studies research, cardiovascular risk, epidemiologic data and cardiovascular care. Michael Cobble MD

 

Thanks for that clarification Mr. Hairpuff.

 

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