Revlon, which acquired Bari Cosmetics in July, is still in the pool of potential buyers, and we saw Markwins outbid Swander Pace Capital in order to pick up PhysiciansFormula in September.
Further, the SGR issue is about to become a thing of the past as Congress moves toward reaching a permanent solution to the problem created by an outdated formula that puts physicians in a position of taking major pay cuts from Medicare each year.
Actually, what they've been watching is a formula that automatically cuts Medicare reimbursements to physicians by 21.5% next year and have made it clear that they'll endorse virtually anything, no matter how damaging to medicine, as a quid pro quo for eliminating this cut.
The reductions are the result of the now infamous sustainable growth rate (SGR) formula that, if not delayed once again, will result in physicians taking a 27 percent cut in the reimbursement rate they receive from Medicare.