Market Overview

Orthofix Resolves All Matters Relating to Investigation of Bone Growth Stimulation Business

Orthofix International (NASDAQ: OFIX) 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 included a plea to obstruction of a June 2008 federal
audit. These charges were previously recorded in the first quarter of
2011. As part of the resolution, the Court imposed a five-year term of
probation, during which the Company must continue to comply with the
terms of its previously-executed Corporate Integrity Agreement. This
final settlement also includes the resolution of a related qui tam
complaint filed against the

See full press release

Posted-In: News Guidance

 

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