Medtronic Pays $75 Million to Settle Charges Against Kyphon

Medtronic announced that it has reached an agreement with the Department of Justice to settle a "qui tam" case against Kyphon, which it bought in November 2007, for $75 million. The case against Kyphon concerned improper reimbursement advice it gave to customers regarding kyphoplasty procedures.

May 22, 2008

1 Min Read
Medtronic Pays $75 Million to Settle Charges Against Kyphon

The company also assented to a Corporate Integrity Agreement in which employees will be trained on how to give appropriate reimbursement advice and the firm will set up and maintain compliance procedures. Medtronic said it knew about the pending settlement when it acquired Kyphon, and Kyphon had already accounted for it.DeviceTalk will return on Tuesday, May 27.

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