Privately-held AGA Medical Corporation will pay a $2 million criminal penalty and enter into a deferred prosecution agreement with the Department of Justice to settle Foreign Corrupt Practices Act violations. It paid bribes in China of at least $460,000 to doctors in government-owned hospitals and patent-office officials. The Minnesota-based firm makes products used to […]
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As reported by the FCPA Blog Tuesday, the SEC and DOJ entered into parallel resolutions with Analogic Corporation and Analogic’s wholly-owned Danish subsidiary BK Medical ApS in connection with violations of the books and records and accounting controls provisions of the FCPA.
Corruption and inefficiency within China’s medical system have contributed, some say, to the recent steep rise in patient-perpetrated violence at public hospitals. Authorities are apparently aiming to quell public anger with a set of comprehensive medical reforms currently being tried in several of China’s top-tier cities such as Beijing and Shenzhen.
[…] proposal. The DOJ made a separate proposal. Analogic makes airport security scanners, ultrasound, and other imaging equipment. The company first disclosed the investigation involving Danish subsidiary BK Medical ApS and some of its foreign distributors in 2011. Analogic said distributors paid BK Medical amounts “in excess of amounts owed and BK Medical transferred the […]
Massachusetts-based medical technology company Analogic Corporation and a foreign subsidiary and that unit’s former CFO settled FCPA violations related to $20 million in improper payments in Russia and other countries.
Orbit Medical Inc. and Rehab Medical Inc. will pay $7.5 million to resolve allegations that Orbit submitted false claims to federal health care programs for power wheelchairs and accessories.
[…] claims for a scheme to defraud the United States and to pay kickbacks in exchange for patient referrals. In the criminal action, two Tenet subsidiaries — Atlanta Medical Center Inc. and North Fulton Medical Center Inc. — agreed to plead guilty to conspiracy to defraud the United States and to pay health care kickbacks […]
[…] allocation of marketing and R&D resources when carrying out business in Israel. Starting November 1, Israel adopted a tight regulatory regime governing the relations between pharmaceutical and medical devices companies on the one hand and the medical institutions and healthcare providers on the other, namely doctors and health professionals. The regulation follows an investigative […]
This week, Wright Medical Group became the latest orthopedic device maker to disclose a government investigation into its overseas sales practices. The company’s Form 8-K said its principal operating subsidiary, Wright Medical Technology, Inc., received notice from the Securities and Exchange Commission of an informal investigation regarding potential violations of the Foreign Corrupt Practices […]
Last month I wrote posts on the FCPA Blog about my birthplace, Belarus. I talked about perceived corruption there and my optimistic outlook for the country as a destination for foreign direct investment. After the posts appeared, I heard from an acquaintance who until recently worked as in-house counsel for a Belarusian medical supply firm.