Alere faces criminal probe over Medicare, Medicaid Billing: WSJ

(Reuters) - The U.S. Justice Department's criminal-fraud section sent diagnostic-testing company Alere Inc a subpoena last month seeking patient-billing records, the WSJ reported, citing people familiar with the matter. Alere's shares plunged 28.6 percent to close at $31.47 on Wednesday. The subpoena asked for information about Alere's efforts to collect co-payments from patients, as well as forms submitted on their behalf to government programs such as Medicare, the WSJ said. Alere said in April its board rejected a recent request by Abbott Laboratories Inc to terminate the $5.8 billion deal to buy Alere. Alere said in March it had received a grand jury subpoena from the U.S. Department of Justice seeking documents relating to its sales practices. Alere could not be immediately reached for comment. A DOJ spokesman declined to comment. (Reporting by Ankur Banerjee in Bengaluru)