NeoGenomics Announces Settlement of Voluntary Disclosure to OIG-HHS

Key Terms

voluntary disclosure regulatory

Information a company chooses to share with the public beyond what regulators legally require, such as extra details on strategy, risks, performance, or future plans. Like a homeowner who willingly shows extra rooms and documents to a potential buyer, voluntary disclosure gives investors more context to judge a firm’s health, transparency, and prospects, and can affect how the market values the company.

civil settlement regulatory

A civil settlement is an agreement reached between parties to resolve a non-criminal legal dispute without a trial, often involving a payment or corrective actions and typically without an admission of wrongdoing. For investors, settlements matter because they can create one-time costs, change future obligations, and affect a company’s reputation and regulatory risk—similar to paying a bill to avoid a long, uncertain courtroom fight.

oig-hhs regulatory

The OIG-HHS is the Office of Inspector General for the U.S. Department of Health and Human Services, a federal watchdog that audits, investigates and enforces rules to prevent fraud, waste and abuse in government health programs such as Medicare and Medicaid. Its reports, investigations, fines, civil settlements and provider exclusions can change payments, add compliance costs or restrict business activity, so OIG-HHS actions can materially affect the finances, operations and reputation of healthcare organizations.

per annum financial

A Latin phrase meaning "per year," used to express amounts, rates or changes on an annual basis—for example interest rates, growth rates, fees, or yields. It tells you how much something accumulates or is charged over one year, which lets investors compare different time-based figures on the same yearly scale. Think of it like saying "miles per year" for a car: it converts various short-term measures into a single annual number.

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FORT MYERS, Fla.--(BUSINESS WIRE)-- NeoGenomics, Inc. (the “Company”) (NASDAQ: NEO), a leading provider of oncology diagnostic solutions that enable precision medicine, today announced that it has finalized a civil settlement with the Department of Justice (“DOJ”) on behalf of the Office of Inspector General of the U.S. Department of Health and Human Services (“OIG”) resolving an investigation concerning consulting services provided by the Company to certain health care providers for laboratory testing services as part of its Laboratory Collaboration Initiative program. The Company self-disclosed the matter to the OIG in November 2021. As the DOJ acknowledged in the settlement agreement, the Company cooperated with the government’s investigation into the matter.

The Company has agreed to pay $9,813,260 plus interest at a rate of 4.250% per annum from January 16, 2026, to the United States to resolve the matter. The Company previously disclosed in its SEC filings that it had accrued a reserve of $11.2 million to cover potential damages and liabilities associated with the investigation.

Tony Zook, Chief Executive Officer, commented, “We are pleased to resolve this legacy matter. The resolution of this voluntary disclosure will allow the Company to continue moving forward with its vision and commitment to advancing personalized cancer care.”

The Settlement Agreement is neither an admission of liability by the Company nor a concession by the United States that its claims are not well founded.

About NeoGenomics

NeoGenomics, Inc. is a premier cancer diagnostics company specializing in cancer genetics testing and information services. We offer one of the most comprehensive oncology-focused testing menus across the cancer continuum, serving oncologists, pathologists, hospital systems, academic centers, and pharmaceutical firms with innovative diagnostic and predictive testing to help them diagnose and treat cancer. Headquartered in Fort Myers, FL, NeoGenomics operates a network of CAP-accredited and CLIA-certified laboratories for full-service sample processing and analysis services throughout the US and a CAP-accredited full-service sample-processing laboratory in Cambridge, United Kingdom.

Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “can,” “could,” “would,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” “guidance,” “potential” and other words of similar meaning, although not all forward-looking statements include these words. Each forward-looking statement contained in this press release, including statements regarding the expected impact of the settlement, is subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Applicable risks and uncertainties include, among others, the risks identified under the heading "Risk Factors" contained in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and the Company’s other filings with the Securities and Exchange Commission.

We caution investors not to place undue reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov and in the “Investors” section of our website at ir.neogenomics.com, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document (unless another date is indicated), and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260720183542/en/

Investor Contact
InvestorRelations@neogenomics.com

Media Contact
Andrea Sampson
asampson@sampsonprgroup.com

Source: NeoGenomics, Inc.