United States: Zimmer Biomet to pay $30.5 mln to resolve U.S. bribery probe

Author(s): Nate Raymond | Date: January 12, 2017 | Language: English
Source: http://www.cnbc.com/ | URL: https://goo.gl/yI8C9u | Type: Text

Zimmer Biomet Holdings Inc on Thursday said it would pay $30.5 million to resolve a U.S. foreign bribery investigation that prosecutors said uncovered misconduct related to the medical device maker’s business in Mexico and Brazil.
The deal follows an earlier 2012 settlement with Biomet Inc, which became part of Zimmer in 2015, in which the company entered into a deferred prosecution agreement to resolve an earlier foreign bribery investigation.
The U.S. Department of Justice in June said that Biomet breached the agreement through activity in Brazil and Mexico that it disclosed in 2014, and by failing to maintain a corporate compliance program.
“Zimmer Biomet is now paying the price for disregarding its obligations under the earlier deferred prosecution agreement,” Assistant Attorney General Leslie Caldwell said in a statement.

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