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Sunday, September 30, 2007

Medical Implant Device Manufacturers Settle Federal Investigation

Four manufacturers of medical implant devices have reached a $311 million settlement with the federal government to settle allegations of offering kickbacks to surgeons using their products.

The four companies allegedly used consulting agreements with orthopedic surgeons as inducements to use a particular company’s artificial hip and knee reconstruction and replacement products.  Surgeons who had such agreements were typically paid tens to hundreds of thousands of dollars per year, and were also enticed with other perks such as trips.

A fifth company that was implicated in the lawsuit was offered a Non-Prosecution Agreement (NPA) for their voluntary cooperation in the investigation.

The companies named in the settlement were Zimmer, Inc.; Depuy Orthopaedics, Inc.; Smith & Nephew Inc.; and Biomet Orthopedics, Inc.

Click here to read the Department of Justice press release Five Companies in Hip and Knee Replacement Industry Avoid Prosecution by Agreeing to Compliance Rules and Monitoring.

Posted by Quitam Help Admin on 09/30 at 06:23 PM
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