Semler Scientific settles with U.S. Department of Justice, agrees to pay $29.75 million

medical technology company Semler Scientific disclosed in a filing on Tuesday that it has reached a preliminary settlement with the U.S. Department of Justice (DOJ) over allegations of marketing violations of its product QuantaFlo, agreeing to pay a $29.75 million fine. The company has signed a loan agreement with cryptocurrency exchange Coinbase, planning to use its holdings of bitcoin as collateral to obtain a loan for the payment of the settlement.

In previous news, Semler Scientific launched a $500 million mixed securities issuance plan, with the funds raised potentially used to purchase bitcoin.