Federal Investigators Target Orthopedics Sector 3815
May 1, 2005
Originally Published MX May/June 2005
BUSINESS NEWS
One by one, subpoenas from the U.S. Department of Justice (DOJ) were issued, each followed by a company news release pledging complete compliance and cooperation with the investigation. And with each communication, it became increasingly clear that orthopedics—medtech's hottest sector—was under fire.
Christopher Christie |
In April, Christopher Christie of the Newark, NJ, office of the U.S. Attorney issued subpoenas to the nation's five leading orthopedics firms. The subpoenas requested information regarding the companies' consulting, professional service, and remuneration agreements with orthopedic surgeons dating from January 2002 to the present.
The orthopedic companies under investigation are Biomet Inc. (Warsaw, IN); DePuy Orthopaedics Inc. (Warsaw, IN), a Johnson & Johnson company; Smith & Nephew plc (London); Stryker Corp. (Kalamazoo, MI); and Zimmer Holdings Inc. (Warsaw, IN).
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