Olympus to Cough Up $306 Million to Settle Kickback Charges
OlympusThe U.S. Justice Department today reported that Olympus (TYO:7733) will pay approximately $306 million to 50 states, Washington D.C. and the federal government to resolve claims of kickbacks that caused false claims to be submitted to federal health care programs.
The settlement comes after a whistleblower lawsuit was filed in the District of New Jersey alleging that between January 1, 2006 and December 31, 2011, Olympus provided illegal kickbacks to physicians, hospital employees and reps and other healthcare providers to encourage them to purchase the company’s equipment, federal prosecutors said.
The settlement comes after a whistleblower lawsuit was filed in the District of New Jersey alleging that between January 1, 2006 and December 31, 2011, Olympus provided illegal kickbacks to physicians, hospital employees and reps and other healthcare providers to encourage them to purchase the company’s equipment, federal prosecutors said.