Where do people see the future of this company? Good? Bad? It seems like its on the right path now..?
Future
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NC just made a small cut to the organization, 33% of sales was let go effective end of business today leaving 24 to cover the country. Severance is less than one week per year of service, benefits will end on 10/31/15, and PTO and earned Q3 commissions are being pd which legally have to be pd.
I am sure RP is still collecting his $11K/month and the numerous NC cronies who were hired have retained their jobs.
I am sure RP is still collecting his $11K/month and the numerous NC cronies who were hired have retained their jobs.
No severance was paid if tenure was under 1 year; just another NC lie! The f...ing boat ride cost more that he was wiling to pay out in severance. 2 pm call and pay stops at 5pm same day. What a total asshole.
smoke and mirror operation, filled with the worst kind of people. They lie to your face, make promises to customers, without the financial backing just to keep them using the product. NC had no problem hiring friends and family, paying them salaries in excess of 11K a month and putting them up in apts and giving spending accounts. Promising job security, business as usual then laying off a large majority of employees 4 days later without warning, and sub par severence packages. No logic re employees retained, keeping with no sales experience, with the company a few months and without any training. Still no word on medicare reimbursement, without complete coverage the company cant be viable.
what was once a beautiful company to work for has become a major example of greed, and poor management by NC and EW who havent the slightest clue on how this business is run- an absolute shame they ran it into the ground.
For the docs out there, try the stability of another biotech company, and
to those employees left standing... brush up your resumes, its only a matter of time.
what was once a beautiful company to work for has become a major example of greed, and poor management by NC and EW who havent the slightest clue on how this business is run- an absolute shame they ran it into the ground.
For the docs out there, try the stability of another biotech company, and
to those employees left standing... brush up your resumes, its only a matter of time.
right path????? dont know who fed you that info. This place will be closing its doors to their sales division before you know it.
The word on the street is that Castle Medical is folding up the tent.
Helomics warns of 'mass layoff' because of Medicare decision
BY ALEX NIXON | Wednesday, Feb. 17, 2016, 5:45 p.m.
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Helomics Corp. could lay off most of its employees and close laboratories because a Medicare administrator ruled the government health insurance program would no longer cover one of the company's cancer tests.
South Side-based Helomics, which employs about 140 people at offices and labs in Pittsburgh, could begin “a mass layoff or plant closing” starting March 2 and affecting at least 125 workers, according to a warning the company sent to state and federal officials.
“Helomics will lose considerable business revenue and will be forced to conduct a reduction-in-force or cease operations at both of its facilities,” if the administrator's decision is implemented, CEO Neil Campbell wrote in the warning letter.
Campbell could not be reached for comment.
It's unclear when the Medicare administrator, Novitas Solutions Inc., will move forward with its ruling on Helomics' test, known as ChemoFx.
Novitas has placed its determination on ChemoFx “on hold and may be reactivated on a future date,” according to a document posted on the website for the Centers for Medicare and Medicaid Services.
Novitas officials could not be reached for comment.
The trouble for Helomics began in November when Novitas Solutions ruled that ChemoFx, which is used to help physicians determine which drugs will be most effective to treat ovarian cancer, would no longer be covered by Medicare. Novitas denied coverage because independent cancer organizations have said the test and others like it have not been proved effective in aiding treatment of ovarian cancer.
Helomics sued in federal court in Pittsburgh in December to stop the determination from taking effect. Helomics sought an injunction until Palmetto — a company hired by Novitas to review specialized tests such as ChemoFx — had an opportunity to review the determination, according to court documents.
However, U.S. District Court Judge Cathy Bissoon dismissed the lawsuit on Feb. 1, stating that Helomics had not exhausted other avenues of relief before turning to the courts. Bissoon also noted in her dismissal opinion that Helomics' hopes that “Palmetto may or will act as plaintiff's ‘white knight,' is rather speculative, and seems a good bit of wishful thinking.”
Privately held Helomics reorganized in November 2014, replacing its CEO and board of directors and changing its name from Precision Therapeutics.
Helomics also received an investment of $60 million from HealthCare Royalty Partners as part of a recapitalization at the time. Officials with HealthCare Royalty Partners declined to comment.
Alex Nixon is a Tribune-Review staff writer. Reach him at 412-320-7928 oranixon@tribweb.com.
BY ALEX NIXON | Wednesday, Feb. 17, 2016, 5:45 p.m.
Sign up for one of our email newsletters.
Helomics Corp. could lay off most of its employees and close laboratories because a Medicare administrator ruled the government health insurance program would no longer cover one of the company's cancer tests.
South Side-based Helomics, which employs about 140 people at offices and labs in Pittsburgh, could begin “a mass layoff or plant closing” starting March 2 and affecting at least 125 workers, according to a warning the company sent to state and federal officials.
“Helomics will lose considerable business revenue and will be forced to conduct a reduction-in-force or cease operations at both of its facilities,” if the administrator's decision is implemented, CEO Neil Campbell wrote in the warning letter.
Campbell could not be reached for comment.
It's unclear when the Medicare administrator, Novitas Solutions Inc., will move forward with its ruling on Helomics' test, known as ChemoFx.
Novitas has placed its determination on ChemoFx “on hold and may be reactivated on a future date,” according to a document posted on the website for the Centers for Medicare and Medicaid Services.
Novitas officials could not be reached for comment.
The trouble for Helomics began in November when Novitas Solutions ruled that ChemoFx, which is used to help physicians determine which drugs will be most effective to treat ovarian cancer, would no longer be covered by Medicare. Novitas denied coverage because independent cancer organizations have said the test and others like it have not been proved effective in aiding treatment of ovarian cancer.
Helomics sued in federal court in Pittsburgh in December to stop the determination from taking effect. Helomics sought an injunction until Palmetto — a company hired by Novitas to review specialized tests such as ChemoFx — had an opportunity to review the determination, according to court documents.
However, U.S. District Court Judge Cathy Bissoon dismissed the lawsuit on Feb. 1, stating that Helomics had not exhausted other avenues of relief before turning to the courts. Bissoon also noted in her dismissal opinion that Helomics' hopes that “Palmetto may or will act as plaintiff's ‘white knight,' is rather speculative, and seems a good bit of wishful thinking.”
Privately held Helomics reorganized in November 2014, replacing its CEO and board of directors and changing its name from Precision Therapeutics.
Helomics also received an investment of $60 million from HealthCare Royalty Partners as part of a recapitalization at the time. Officials with HealthCare Royalty Partners declined to comment.
Alex Nixon is a Tribune-Review staff writer. Reach him at 412-320-7928 oranixon@tribweb.com.
So I just heard Precision went through a federal investigation. I was told by one of my prospects. The prospect was asked about their practices as well as Precision's. I wonder if this is why precision laid off 90% of their sales force. They really only have about 5 reps across the country now...What is going on with them??
Heard NC spilled some juice on his pants at lunch and blamed the former management team. Heard he slipped on some ice a few months ago and blamed that on them, too. Also heard that today, when NC had yet another round of layoffs after taking over a company 1 1/2 years ago that was close to crossing the lines and flipped it so that the company was hemorrhaging money by spending wildly, with expensive non-revenue generating projects, weird out of town hires and unnecessary consultants that he again, blamed former management (who were long gone). It's really quite interesting. Maybe tomorrow I'll accidentally get a paper-cut and blame former management. So extremely sorry to all the wonderful people who were let go today. What a nightmare roller-coaster (enjoy the ride).
Helomics warns of 'mass layoff' because of Medicare decision
BY ALEX NIXON | Wednesday, Feb. 17, 2016, 5:45 p.m.
Sign up for one of our email newsletters.
Helomics Corp. could lay off most of its employees and close laboratories because a Medicare administrator ruled the government health insurance program would no longer cover one of the company's cancer tests.
South Side-based Helomics, which employs about 140 people at offices and labs in Pittsburgh, could begin “a mass layoff or plant closing” starting March 2 and affecting at least 125 workers, according to a warning the company sent to state and federal officials.
“Helomics will lose considerable business revenue and will be forced to conduct a reduction-in-force or cease operations at both of its facilities,” if the administrator's decision is implemented, CEO Neil Campbell wrote in the warning letter.
Campbell could not be reached for comment.
It's unclear when the Medicare administrator, Novitas Solutions Inc., will move forward with its ruling on Helomics' test, known as ChemoFx.
Novitas has placed its determination on ChemoFx “on hold and may be reactivated on a future date,” according to a document posted on the website for the Centers for Medicare and Medicaid Services.
Novitas officials could not be reached for comment.
The trouble for Helomics began in November when Novitas Solutions ruled that ChemoFx, which is used to help physicians determine which drugs will be most effective to treat ovarian cancer, would no longer be covered by Medicare. Novitas denied coverage because independent cancer organizations have said the test and others like it have not been proved effective in aiding treatment of ovarian cancer.
Helomics sued in federal court in Pittsburgh in December to stop the determination from taking effect. Helomics sought an injunction until Palmetto — a company hired by Novitas to review specialized tests such as ChemoFx — had an opportunity to review the determination, according to court documents.
However, U.S. District Court Judge Cathy Bissoon dismissed the lawsuit on Feb. 1, stating that Helomics had not exhausted other avenues of relief before turning to the courts. Bissoon also noted in her dismissal opinion that Helomics' hopes that “Palmetto may or will act as plaintiff's ‘white knight,' is rather speculative, and seems a good bit of wishful thinking.”
Privately held Helomics reorganized in November 2014, replacing its CEO and board of directors and changing its name from Precision Therapeutics.
Helomics also received an investment of $60 million from HealthCare Royalty Partners as part of a recapitalization at the time. Officials with HealthCare Royalty Partners declined to comment.
Alex Nixon is a Tribune-Review staff writer. Reach him at 412-320-7928 oranixon@tribweb.com.