Semler Scientific has reached a settlement with the Department of Justice, agreeing to pay a $29.75 million fine

Medical technology company Semler Scientific disclosed in Tuesday's filing that it has reached a preliminary settlement with the Department of Justice (DOJ) over allegations of marketing violations related to its product QuantaFlo, agreeing to pay a $29.75 million penalty. The company has signed a loan agreement with cryptocurrency exchange Coinbase, and plans to use its bitcoin holdings as collateral to obtain loans to pay the settlement.
Previously, Semler Scientific launched a $500 million hybrid securities offering plan, with the funds raised or partially used to buy bitcoin.