Report: PerkinElmer under investigation for Medicare fraud

PerkinElmer (NYSE:PKI) is under federal scrutiny for alleged involvement in a scam to bill Medicare for tens of thousands of unnecessary genetic cancer tests, according to a report by Reuters.

The news agency cited three unidentified sources and government documents linking the Waltham, Mass.-based diagnostic and scientific instrument company to the probe. PerkinElmer acknowledged that it has received government subpoenas regarding investigations into third parties and said it is cooperating with authorities, but denied knowledge of wrongdoing.

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