Zimmer Biomet, U.S. Justice Dept. Near Deal on Bribery Charges
The U.S. Justice Dept. and Zimmer Biomet (NYSE:ZBH) are close to reaching a deal to settle bribery allegations against the orthopedic device giant, according to federal prosecutors.
The DoJ alleged that Biomet and its subsidiaries paid out more than $1.5 million in illegal kickbacks to employees of state-owned health services in Brazil and China. Biomet paid $22 million in March 2012 to settle the case with the Justice Dept. and the U.S. Securities & Exchange Commission, agreeing to a deferred prosecution agreement to guard against further misconduct (Zimmer and Biomet closed their $14 billion merger in June 2015).
The DoJ alleged that Biomet and its subsidiaries paid out more than $1.5 million in illegal kickbacks to employees of state-owned health services in Brazil and China. Biomet paid $22 million in March 2012 to settle the case with the Justice Dept. and the U.S. Securities & Exchange Commission, agreeing to a deferred prosecution agreement to guard against further misconduct (Zimmer and Biomet closed their $14 billion merger in June 2015).