Orthofix International NV to Pay $5.2 Million to Settle Bribery Charges

Medical device maker Orthofix International NV will pay $5.2 million to settle charges that its Mexican subsidiary paid bribes to government officials to obtain sales contracts with hospitals, the U.S. Securities and Exchange Commission said. The SEC alleged the company's Promeca subsidiary regularly paid bribes, referred to as "chocolates," in the form of cash, laptop computers, televisions and appliances in a scheme that yielded nearly $5 million in illegal profits over a period of seven years.