Omnicell : Announces Conclusion of Whistleblower Investigation and Filing of 2014 Annual Report on Form 10-K
April 23, 2015 at 10:03 am
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MOUNTAIN VIEW, Calif., March 31, 2015 /PRNewswire/ -- Omnicell, Inc. (NASDAQ: OMCL), a leading provider of medication and supply management solutions for healthcare institutions, today announced the conclusion of an investigation into certain whistleblower allegations that had postponed the filing of its 2014 Annual Report on Form 10-K, and also announced that the 2014 report has now been filed with the Securities Exchange Commission. The whistleblower claim was received on February 27, 2015 and alleged, among other claims, the existence of a side letter arrangement with a customer that provided for discounts which were not recorded in the financial results of the Company.
After a thorough investigation, Omnicell concluded that a letter was written by a Company sales representative in 2010 to a single customer that summarized terms of a quotation and was presented to the customer in the normal course of the sales process. The Company concluded that the letter did not promise discounts to the customer that were not included in the Company's financial statements. Upon review of documents and other information related to this allegation and other sales activity at the Company, the Company reaffirmed that financial controls were operating effectively.
Omnicell takes all allegations of impropriety seriously and apologizes for any inconvenience caused by the delay of filing its Annual Report while this matter was investigated.
For more information about Omnicell, Inc. please visit www.omnicell.com.
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Omnicell, Inc. is a provider of medication management solutions and adherence tools for health systems and pharmacies. The Company is focused on transforming pharmacy care through outcomes-centric innovation designed to optimize clinical and business outcomes across all settings of care through a portfolio of robotics, smart devices, intelligent software, and services. Its point of care automation solutions is designed to improve clinician workflows in patient care areas of the healthcare system, such as nursing units, patient wards, operating rooms, and emergency departments. The Companyâs XT Series automated dispensing systems for medications and supplies, which are used in nursing units and other clinical areas of the hospital, are designed to support workflows specific to each area of the hospital, with various software and hardware options. For the operating room, the Company also offer specialized automated dispensing systems.