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NEW YORK – Clinical lab firm Genova Diagnostics has agreed to pay approximately $43 million to resolve allegations that it violated the False Claims Act, including allegations that it billed federal health insurance programs for medically unnecessary tests.

The US Department of Justice announced the settlement Monday. Under the terms of the deal, Asheville, North Carolina-based Genova will surrender $17 million in claims funds held by Medicare and TRICARE and pay up to another $26 million contingent upon certain financial events occurring in the next five years.

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