Estech pays $1.4M to settle Medicare fraud suit
Endoscopic Technologies, maker of tools for non-invasive heart surgeries that does business as Estech, says it will pay $1.4 million to settle claims that it gave kickbacks to health-care providers that used its devices, reports VentureWire.
The same suit alleges the San Ramon, Calif.-based company instructed health care providers to pursue inflated Medicare payments for surgeries that used the company’s products. As a result, some procedures were performed with the devices when less-invasive means would have… Continue Reading
Estech pumps in $8M for heart surgery tools
Endoscopic Technologies, a company known as Estech that makes devices for minimally-invasive heart surgeries, has tacked $8 million onto an open second round of funding, bringing its total to $19.3 million. The new money will be used to boost the San Ramon, Calif. company to profitability, it says.
The extension came from NBGI Ventures, Saints Capital Everest, Telegraph Hill Partners and Waveland Venture Partners. Estech says it hopes to add $3 to $4 million more before… Continue Reading