1. Medtech Insight
  2. >>Policy & Regulation

Zimmer Biomet To Settle Overseas Bribery Charges With US DOJ

 
• By Elizabeth Orr

The orthopedic device company is set to pay $17.4m to the US Department of Justice and an additional $13m to the Securities and Exchange Commission to resolve allegations that Biomet didn’t stop corrupt acts in Brazil and Mexico even after a 2012 deferred prosecution agreement.

Zimmer Biomet Holdings Inc. will pay $30.5m to settle allegations that the company’s actions in Mexico and Brazil violated the Foreign Corrupt Practices Act (FCPA), the US Department of Justice announced Jan. 12.

The payments stem from allegations that Biomet Inc. paid bribes to Mexican government officials and violated the FCPA’s internal controls provision in Mexico and Brazil. In addition, the company’s actions breached a 2012 deferred prosecution agreement between the Department of Justice and Biomet. The agreement had been set to expire in 2015, but DOJ extended it based on allegations of ongoing misconduct

More from Legal & IP

More from Policy & Regulation

‘Help Us Deregulate’: RFK Announces RFI For Trimming Government Health Agencies

 
• By Brian Bossetta

HHS Secretary Robert F. Kennedy, Jr. is asking the public to help cut waste across the government’s health agencies. Kennedy announced a 60-day comment period allowing the public to take part in a broader federal initiative to reduce regulations and increase transparency.

MedTech Europe’s Bisazza Urges Action As US Tariffs Jeopardize Critical Global Supply Chains

 
• By Amanda Maxwell

The intricate assembly of medical devices, often involving over 1,000 globally sourced components, faces severe disruption due to new US tariffs. These barriers could halt production and devastate small and medium-sized enterprises (SMEs), MedTech Europe’s CEO, Oliver Bisazza, warns in an interview with Medtech Insight.

UK Medtech Regulators Must Ensure Certainty So Businesses Can Plan Their Futures

 
• By Ashley Yeo

With medtech businesses typically managing investment cycles on a three- to five-year basis, local regulatory processes and forward costs of market entry must offer an attractive environment in which companies can plan for growth, says McDermott Will and Emery’s partner and head of healthcare and life sciences, Sharon Lamb. Broad-scale improvements to NICE’s evaluation offerings would similarly enhance the UK’s value to innovators.