Colorado firm Zynex forfeits nearly $100M as former executives face federal charges
By Shaina Cole | Contributing Writer, Rocky Mountain Voice
An Englewood medical device company has agreed to pay millions and walk away from nearly 100 million dollars in unpaid claims after a federal investigation into its TRICARE billing practices.
This week, the U.S. Department of Justice announced that Zynex, Inc. entered into a criminal Non-Prosecution Agreement. Prosecutors said the company submitted claims for medical supplies “in quantities that exceeded physician orders” and, in some instances, were “not medically necessary.”
At the same time, a federal grand jury indictment charging former CEO Thomas Sandgaard and former Chief Operating Officer Anna Lucsok was unsealed.
The company secured a deal.
Its former executives now face criminal charges ...