CHELMSFORD, Mass.--(BUSINESS WIRE)--ZOLL® Medical Corporation, an Asahi Kasei Group company that manufactures medical devices and related software solutions, announced the return of funds it received from the Department of Health and Human Services (HHS) as part of the CARES Act Provider Relief Fund.
The CARES Act Provider Relief Fund allocated $50 billion for distribution to Medicare facilities and providers impacted by COVID-19. HHS provided automatic, expedited distribution of $30 billion of the Provider Relief Fund in mid-April to certain providers based on their share of 2019 Medicare fee-for-service (FFS) reimbursements. In addition, HHS began distribution of the remaining $20 billion based on CMS cost reports and provider submitted revenue information.
ZOLL’s Cardiac Management Solutions division, which includes both the LifeVest® wearable defibrillator and Cardiac Diagnostics ECG monitoring businesses, received allocations from the Provider Relief Fund as part of the automatic, expedited distribution to Medicare providers. ZOLL did not request any funding, returned all of the funds it received as part of this expedited distribution, and does not intend to seek other funds as part the general distribution.
“Although we meet all of the qualifications for the funds we received and could fully comply with the terms and conditions required to keep the funds, we believe that there are other providers that have an even greater need, so returning the funds to be available to others is just the right thing to do,” said Jason T. Whiting, President of ZOLL Cardiac Management Solutions.
“Healthcare systems around the world will need to continue to address the COVID pandemic for some time to come, but I believe these systems will soon begin to open care for other patient groups, especially acute cardiovascular disease patients, and we remain ready to support physicians and other health care professionals in their care for these patients,” Mr. Whiting said.
About ZOLL Medical Corporation
ZOLL Medical Corporation, an Asahi Kasei Group Company, develops and markets medical devices and software solutions that help advance emergency care and save lives, while increasing clinical and operational efficiencies. With products for defibrillation and monitoring, circulation and CPR feedback, data management, supersaturated oxygen therapy, therapeutic temperature management, and ventilation, ZOLL provides a comprehensive set of technologies that help clinicians, EMS and fire professionals, as well as lay rescuers, treat victims needing resuscitation and acute critical care. For more information, visit www.zoll.com.
About Asahi Kasei
The Asahi Kasei Group contributes to life and living for people around the world. Since its foundation in 1922 with ammonia and cellulose fiber business, Asahi Kasei has consistently grown through the proactive transformation of its business portfolio to meet the evolving needs of every age. With more than 40,000 employees around the world, the company contributes to sustainable society by providing solutions to the world’s challenges through its three business sectors of Material, Homes, and Health Care. Its health care operations include devices and systems for acute critical care, dialysis, therapeutic apheresis, transfusion, and manufacture of biotherapeutics, as well as pharmaceuticals and diagnostic reagents. For more information, visit www.asahi-kasei.co.jp/asahi/en/.
Copyright © 2020 ZOLL Medical Corporation. All rights reserved. LifeVest and ZOLL are trademarks and/or registered trademarks of ZOLL Medical Corporation in the United States and/or other countries. Asahi Kasei is a registered trademark of Asahi Kasei Corporation. All other trademarks are the property of their respective owners.