CardioNet monitoring systems get insurance coverage, shares jump

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CardioNet monitoring systems get insurance coverage, shares jump

(Reuters) - CardioNet Inc said its heart-monitoring solutions will receive insurance coverage from UnitedHealthcare Insurance Co from July 1, sending its shares up 31 percent in extended trade. CardioNet said the three-year agreement would apply to all of the insurer's affiliates including managed Medicare and Medicaid plans. Revenue from Medicare accounted for 37 percent of CardioNet's patient services revenue in 2012. UnitedHealthcare provides insurance coverage to more than 70 million members in the United States, CardioNet said in a statement. ...

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