December 08, 2014
1 min read
Save
This article is more than 5 years old. Information may no longer be current.
Stryker resolves government investigation of OtisMed
Stryker Corporation announced that the company has entered into a settlement with the U.S. Department of Justice regarding the government’s investigations into OtisMed.
The Department of Justice (DOJ) had conducted civil and criminal investigations into the sales and marketing practices of the OtisKnee prior to Stryker’s acquisition of OtisMed in November 2009. The DOJ acknowledged that OtisMed’s criminal conduct “occurred prior to Stryker’s acquisition of OtisMed and without Stryker’s prior knowledge or acquiescence.”
Under the terms of the agreement, Stryker and OtisMed will pay more than $79.5 million plus interest to resolve the matter.