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FCPA Blog Daily News

« Shanghai using software to track crooked doctors | Main | China Corruption Blotter (October 24, 2012) »
Wednesday
Oct242012

Stryker's latest FCPA disclosure

From the members area of the FCPA Blog, here's Stryker's latest FCPA disclosure in its SEC filing this week:

Stryker Corp.

Filing Date     Oct/22/2012

Investigating Entity     Securities and Exchange Commission

Excerpt   In 2010 we received a subpoena from the DOJ related to sales, marketing and regulatory matters related to the Stryker PainPump. The investigation is ongoing. In 2007 we disclosed that the United States Securities and Exchange Commission (SEC) made an inquiry of us regarding possible violations of the Foreign Corrupt Practices Act in connection with the sale of medical devices in certain foreign countries. Subsequently, in 2008, we received a subpoena from the United States DOJ, Criminal Division, requesting certain documents for the period since January 1, 2000 in connection with the SEC inquiry. We are fully cooperating with the DOJ and the SEC regarding these matters. In 2007 the United States Department of Health and Human Services, Office of Inspector General (HHS) issued us a civil subpoena seeking to determine whether we violated various laws by paying consulting fees and providing other things of value to orthopedic surgeons and healthcare and educational institutions as inducements to use Stryker's orthopedic medical devices in procedures paid for in whole or in part by Medicare. We have produced numerous documents and other materials to HHS in response to the subpoena.

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