Sunrise Medical to audit accounting practices at Bio Clinic unit; three execs on paid leave.
This article was originally published in The Gray Sheet
Executive Summary
SUNRISE MEDICAL PRESIDENT/COO BUCKELEW PLACED ON PAID LEAVE while the company conducts an internal investigation into its accounting practices. The investigation will focus initially on the Bio Clinic and Comfort Clinic divisions of Sunrise's Bio Clinic air flotation sleeping surfaces and foam mattress overlays subsidiary. Sunrise announced Oct. 26 that "the net income and assets of the company may have been overstated for previously reported periods".
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