> Quest Diagnostics has agreed to pay $241 million to resolve a civil lawsuit brought by a California competitor that alleged the company overbilled the state's Medicaid program. Report
> A U.S. unit of Japan's Terumo has entered into a stock purchase agreement to acquire all outstanding shares of Harvest Technologies Corporation, an innovative biotechnology company working to commercialize the world's first point-of-care technology that allows physicians to derive highly concentrated autologous, adult stem cells from their patients in just 15 minutes. Terumo release
> PositiveID Corporation has agreed to acquire MicroFluidic Systems for $8.2 million. PositiveID release
> Abbott has received the CE Mark for its new FreeStyle InsuLinx blood glucose monitoring system, the first blood glucose monitoring device from Abbott that includes a mealtime (bolus) insulin calculator for calculating suggested insulin doses. Abbott release
> A decade after the ''scan scam'' triggered a crackdown on Medicare payments for magnetic resonance imaging services, the Australian government has relented on curbs to the use of the diagnostic machine. Story
> Medtronic of Canada has announced that Health Canada has approved its Arctic Front Cardiac CryoAblation catheter system. It is the first and only cryoballoon in Canada indicated for the treatment of patients suffering from paroxysmal atrial fibrillation, according to a company release. The Cryoballoon treatment involves a minimally-invasive procedure that efficiently creates circumferential lesions around the pulmonary vein, which is the source of erratic electrical signals that cause the irregular heartbeat. Medtronic release
> Insulet says it is seeking 510(k) clearance from the FDA for a smaller, lighter Omnipod insulin management system and reports a 36 percent Q1 sales jump. News
And Finally... Qualcomm chairman and CEO Paul Jacobs revealed today that the San Diego-based wireless technology giant has been working with the X Prize Foundation to develop criteria for a new $10 million X Prize grand challenge that is straight out of Star Trek-a "Tricorder X Prize." News