Collections Firm Behind Lab Corp, Quest Breaches Files for Bankruptcy
Summary: Retrieval-Masters Creditors Bureau, the parent of medical billing firm American Medical Collection Agency (AMCA), filed for bankruptcy after an eight-month breach exposed personal information on nearly 20 million Americans. Quest Diagnostics reported 11.9 million patients affected and LabCorp 7.7 million, and the filing cites more than $3.8 million spent mailing over 7 million notices, a $2.5 million personal loan from CEO Russell H. Fuchs, and about $400,000 in IT and consultant costs.
What you should know: Four of AMCA's largest customers - LabCorp, Quest Diagnostics, Conduent and CareCentrix - stopped sending it business after the breach, and the notification mailings alone cost more than $3.8 million, enough to push the vendor into Chapter 11 while at least three class-action suits proceed.
Read the original at Krebs on Security ↗
- Topics
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