Houston-based medical services provider Bederra has received a subpoena from the U.S. Securities and Exchange Commission (SEC), the company reported this week.
The subpoena relates to recently reported short selling of the company's stock, as well as to historical stock issuances, Bederra said. The company said it is complying with the SEC request.
In other news, Bederra reported that its financial results for the period ending June 30 were lower than expected due to the U.S. unemployment situation, which has caused the loss of insurance benefits and therefore fewer visits to physicians.
The company said that the recently passed healthcare reform legislation has prompted many physicians to opt out of the Medicare system, particularly in Texas. This has resulted in the loss of several physician clients in the company's Texas Mobile Health subsidiary.
Bederra said that Texas Mobile Health "is exploring other areas of diagnostic testing services to increase sales."
Related Reading
Bederra completes Texas Mobile buy, March 26, 2010
Bederra reorganizes prior to Medicare cuts, November 17, 2009
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