LEWISVILLE, Texas–(BUSINESS WIRE)–Orthofix International N.V., (OFIX) (the Company) announced today that it has resolved all matters related to the investigation of its bone growth stimulation business. Consistent with the agreement in principle that the Company previously announced in May 2011, the Company will pay approximately $43 million to resolve all civil and criminal matters, which […]
Legal
Orthofix to pay about $43M to settle fraud claims
LEWISVILLE, Texas (AP) — Orthofix International NV said late Sunday that it has settled all of the criminal and civil cases related to fraudulent claims it made to Medicare and other federal health care programs when selling bone growth stimulator devices.Under an agreement originally announced in May 2011, the medical implants and surgery products company […]
Zimmer can’t shake Stryker poaching charges
Zimmer (NYSE:ZMH) can’t shake a lawsuit filed by Stryker (NYSE:SYK) alleging a scheme to poach sales reps from Stryker’s operations in Las Vegas and Arizona, a federal judge ruled yesterday.Stryker sued Zimmer and a spate of former employees in April 2011, accusing its arch-rival of devising a scheme to “create an instantly successful spine organization, […]